Steel Dynamics (NASDAQ:STLD) Earns Underweight Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Steel Dynamics (NASDAQ:STLD – Get Rating) in a research report sent to investors on Tuesday morning, The Fly reports. The firm issued an underweight rating and a $82.00 target price on the basic materials company’s stock.

A number of other research firms have also recently issued reports on STLD. UBS Group dropped their price objective on Steel Dynamics from $110.00 to $100.00 in a report on Friday, May 5th. StockNews.com began coverage on Steel Dynamics in a report on Thursday, May 18th. They set a hold rating for the company. Credit Suisse Group lifted their target price on Steel Dynamics from $106.00 to $115.00 and gave the company an outperform rating in a research report on Friday, April 21st. Bank of America lowered Steel Dynamics from a buy rating to a neutral rating and decreased their target price for the company from $140.00 to $123.00 in a research report on Wednesday, April 5th. Finally, BMO Capital Markets lifted their target price on Steel Dynamics from $109.00 to $120.00 and gave the company a market perform rating in a research report on Friday, January 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $107.63.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $94.73 on Tuesday. The stock has a market cap of $16.01 billion, a price-to-earnings ratio of 5.04 and a beta of 1.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.51 and a current ratio of 4.15. The stock has a 50 day moving average price of $103.58 and a 200-day moving average price of $108.57. Steel Dynamics has a one year low of $62.44 and a one year high of $136.46.

Steel Dynamics (NASDAQ:STLD – Get Rating) last posted its quarterly earnings data on Wednesday, April 19th. The basic materials company reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.81 by $0.20. Steel Dynamics had a return on equity of 47.68% and a net margin of 15.73%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.95 billion. During the same quarter in the previous year, the business earned $6.02 EPS. Steel Dynamics’s revenue was down 12.1% compared to the same quarter last year. Equities analysts expect that Steel Dynamics will post 16.34 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a dividend yield of 1.79%. The ex-dividend date of this dividend is Thursday, June 29th. Steel Dynamics’s payout ratio is 9.05%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. 3Chopt Investment Partners LLC acquired a new position in Steel Dynamics during the 1st quarter valued at about $1,277,000. B. Riley Wealth Advisors Inc. acquired a new position in Steel Dynamics during the 1st quarter valued at about $385,000. Providence Capital Advisors LLC increased its position in Steel Dynamics by 11,205.0% during the 1st quarter. Providence Capital Advisors LLC now owns 4,522 shares of the basic materials company’s stock valued at $40,000 after buying an additional 4,482 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its position in Steel Dynamics by 1.1% during the 1st quarter. Chevy Chase Trust Holdings LLC now owns 96,926 shares of the basic materials company’s stock valued at $10,958,000 after buying an additional 1,029 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Steel Dynamics by 0.3% during the 1st quarter. Thrivent Financial for Lutherans now owns 1,762,666 shares of the basic materials company’s stock valued at $199,287,000 after buying an additional 4,834 shares in the last quarter. 79.54% of the stock is owned by institutional investors.

Steel Dynamics Company Profile

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Steel Dynamics, Inc engages in the manufacture of steel products and metal recycling. It operates through the following segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment consists of sheet products including hot roll, cold roll, and coated steel, long products including structural steel beams, pilings, and standard and premium grade rail, and steel finishing services such as turning, polishing, straightening, chamfering, threading, and precision saw-cutting.