Brokerages Set Steel Dynamics, Inc. (NASDAQ:STLD) Target Price at $125.29

Steel Dynamics, Inc. (NASDAQ:STLD) has been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $125.29.

Several analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Citigroup upped their price objective on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. BMO Capital Markets upped their price target on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Monday, March 18th. Finally, Jefferies Financial Group initiated coverage on Steel Dynamics in a research report on Monday. They issued a “hold” rating and a $150.00 price target for the company.

Steel Dynamics Trading Up 0.6 %

Shares of Steel Dynamics stock opened at $133.57 on Tuesday. The firm has a market cap of $20.99 billion, a PE ratio of 9.17 and a beta of 1.47. Steel Dynamics has a fifty-two week low of $90.55 and a fifty-two week high of $151.34. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. The business’s fifty day moving average is $138.85 and its two-hundred day moving average is $126.04.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the company earned $4.01 EPS. The firm’s revenue was down 4.1% on a year-over-year basis. Analysts anticipate that Steel Dynamics will post 12.44 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend is Friday, June 28th. Steel Dynamics’s dividend payout ratio is 12.64%.

Insider Buying and Selling

In other news, SVP Christopher A. Graham sold 21,000 shares of Steel Dynamics stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the transaction, the senior vice president now owns 60,415 shares in the company, valued at approximately $8,265,376.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Steel Dynamics

A number of hedge funds have recently added to or reduced their stakes in the company. Atria Investments Inc grew its position in Steel Dynamics by 9.3% during the first quarter. Atria Investments Inc now owns 14,130 shares of the basic materials company’s stock worth $2,095,000 after buying an additional 1,205 shares in the last quarter. Swedbank AB purchased a new stake in Steel Dynamics in the first quarter worth about $32,178,000. Wahed Invest LLC boosted its stake in Steel Dynamics by 9.4% in the 1st quarter. Wahed Invest LLC now owns 2,908 shares of the basic materials company’s stock worth $431,000 after purchasing an additional 249 shares in the last quarter. National Wealth Management Group LLC purchased a new stake in Steel Dynamics during the 1st quarter valued at $536,000. Finally, LBP AM SA raised its holdings in shares of Steel Dynamics by 26.5% during the first quarter. LBP AM SA now owns 21,966 shares of the basic materials company’s stock valued at $3,256,000 after purchasing an additional 4,599 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.