Steel Dynamics (NASDAQ:STLD) Upgraded at UBS Group

UBS Group upgraded shares of Steel Dynamics (NASDAQ:STLD) from a neutral rating to a buy rating in a research report report published on Tuesday, Marketbeat reports. They currently have $145.00 price target on the basic materials company’s stock, up from their prior price target of $129.00.

Several other equities research analysts also recently weighed in on the company. Morgan Stanley upped their price target on Steel Dynamics from $134.00 to $138.00 and gave the stock an equal weight rating in a report on Thursday, August 15th. Jefferies Financial Group started coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They issued a hold rating and a $150.00 price target for the company. Bank of America decreased their price target on shares of Steel Dynamics from $150.00 to $145.00 and set a neutral rating for the company in a research note on Wednesday, June 26th. BMO Capital Markets decreased their price target on shares of Steel Dynamics from $140.00 to $135.00 and set a market perform rating for the company in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $118.00 to $120.00 and gave the stock an underweight rating in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Steel Dynamics presently has an average rating of Hold and a consensus price target of $141.86.

Steel Dynamics Trading Down 0.3 %

NASDAQ STLD opened at $111.00 on Tuesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The firm has a market cap of $17.13 billion, a price-to-earnings ratio of 7.62 and a beta of 1.32. The firm has a 50 day simple moving average of $122.90 and a 200-day simple moving average of $130.12. Steel Dynamics has a one year low of $95.53 and a one year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.67 by $0.05. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter last year, the company posted $4.81 EPS. The firm’s revenue was down 8.8% compared to the same quarter last year. Equities research analysts anticipate that Steel Dynamics will post 10.74 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.46 per share. The ex-dividend date is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.66%. Steel Dynamics’s payout ratio is currently 12.64%.

Institutional Trading of Steel Dynamics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in STLD. Kestra Private Wealth Services LLC raised its holdings in Steel Dynamics by 30.4% during the fourth quarter. Kestra Private Wealth Services LLC now owns 3,397 shares of the basic materials company’s stock worth $401,000 after purchasing an additional 792 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in shares of Steel Dynamics by 18.0% in the 4th quarter. First Trust Direct Indexing L.P. now owns 3,593 shares of the basic materials company’s stock valued at $424,000 after acquiring an additional 548 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Steel Dynamics by 3.5% in the 4th quarter. Fisher Asset Management LLC now owns 59,338 shares of the basic materials company’s stock valued at $7,008,000 after acquiring an additional 1,999 shares during the period. Natixis Advisors L.P. increased its holdings in shares of Steel Dynamics by 33.9% in the 4th quarter. Natixis Advisors L.P. now owns 36,999 shares of the basic materials company’s stock valued at $4,369,000 after acquiring an additional 9,367 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $497,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

About Steel Dynamics

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.