UBS Group Analysts Give Steel Dynamics (NASDAQ:STLD) a $95.00 Price Target

UBS Group set a $95.00 price target on Steel Dynamics (NASDAQ:STLDGet Rating) in a research note issued to investors on Monday morning, Stock Target Advisor reports.

Other equities analysts have also recently issued reports about the company. BMO Capital Markets lifted their price target on Steel Dynamics from $95.00 to $104.00 in a research report on Friday, April 22nd. JPMorgan Chase & Co. reduced their price target on Steel Dynamics from $129.00 to $110.00 in a research report on Tuesday, June 14th. StockNews.com started coverage on Steel Dynamics in a research report on Thursday, March 31st. They set a buy rating for the company. Finally, The Goldman Sachs Group cut Steel Dynamics from a buy rating to a neutral rating and reduced their target price for the stock from $114.00 to $92.00 in a research report on Tuesday, May 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $87.00.

Shares of Steel Dynamics stock opened at $67.40 on Monday. The business’s fifty day simple moving average is $81.08 and its 200 day simple moving average is $72.42. The firm has a market capitalization of $12.72 billion, a P/E ratio of 3.48 and a beta of 1.30. Steel Dynamics has a 12 month low of $50.54 and a 12 month high of $100.37. The company has a current ratio of 3.42, a quick ratio of 1.74 and a debt-to-equity ratio of 0.45.

Steel Dynamics (NASDAQ:STLDGet Rating) last issued its quarterly earnings results on Wednesday, April 20th. The basic materials company reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $5.58 by $0.44. Steel Dynamics had a return on equity of 69.88% and a net margin of 19.02%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the company posted $2.10 earnings per share. Steel Dynamics’s quarterly revenue was up 57.1% compared to the same quarter last year. Analysts predict that Steel Dynamics will post 19.84 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, June 29th. This represents a $1.36 annualized dividend and a yield of 2.02%. Steel Dynamics’s dividend payout ratio (DPR) is presently 7.02%.

Steel Dynamics announced that its board has approved a share buyback plan on Monday, February 28th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 8.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

In other news, Director Keith E. Busse sold 5,040 shares of Steel Dynamics stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $83.51, for a total value of $420,890.40. Following the sale, the director now directly owns 724,034 shares of the company’s stock, valued at $60,464,079.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.40% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of STLD. Rational Advisors LLC bought a new stake in Steel Dynamics during the fourth quarter worth approximately $25,000. Citizens National Bank Trust Department purchased a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $25,000. Allegheny Financial Group LTD purchased a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $27,000. UMB Bank N A MO purchased a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $27,000. Finally, Riverview Trust Co purchased a new position in shares of Steel Dynamics during the first quarter valued at approximately $28,000. 83.19% of the stock is currently owned by institutional investors.

Steel Dynamics Company Profile (Get Rating)

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.

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Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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