Steel Dynamics (NASDAQ:STLD) PT Lowered to $127.00 at BMO Capital Markets

Steel Dynamics (NASDAQ:STLD) had its target price lowered by BMO Capital Markets from $135.00 to $127.00 in a research report sent to investors on Tuesday morning, Marketbeat.com reports. The brokerage currently has a market perform rating on the basic materials company’s stock.

Other research analysts also recently issued reports about the company. Morgan Stanley lifted their price target on Steel Dynamics from $134.00 to $138.00 and gave the stock an equal weight rating in a research report on Thursday, August 15th. UBS Group raised shares of Steel Dynamics from a neutral rating to a buy rating and boosted their target price for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Bank of America decreased their price target on shares of Steel Dynamics from $150.00 to $145.00 and set a neutral rating on the stock in a research report on Wednesday, June 26th. Jefferies Financial Group initiated coverage on shares of Steel Dynamics in a research report on Monday, May 20th. They set a hold rating and a $150.00 price objective for the company. Finally, JPMorgan Chase & Co. upgraded Steel Dynamics from an underweight rating to a neutral rating and boosted their price target for the company from $120.00 to $131.00 in a research note on Monday, September 9th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of Hold and an average target price of $141.29.

Steel Dynamics Trading Up 4.3 %

NASDAQ:STLD opened at $120.09 on Tuesday. The company’s 50 day moving average is $120.49 and its 200-day moving average is $129.15. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. Steel Dynamics has a 12 month low of $98.25 and a 12 month high of $151.34. The firm has a market cap of $18.53 billion, a price-to-earnings ratio of 8.25 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The business’s revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.81 EPS. Equities analysts anticipate that Steel Dynamics will post 10.57 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a $0.46 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.53%. Steel Dynamics’s payout ratio is presently 12.64%.

Institutional Trading of Steel Dynamics

Institutional investors have recently bought and sold shares of the stock. Sanctuary Advisors LLC bought a new stake in shares of Steel Dynamics in the 2nd quarter worth about $2,049,000. New Century Financial Group LLC bought a new position in Steel Dynamics in the 2nd quarter valued at $246,000. Ariadne Wealth Management LP acquired a new position in Steel Dynamics in the second quarter worth $267,000. Truist Financial Corp grew its holdings in shares of Steel Dynamics by 3.1% during the second quarter. Truist Financial Corp now owns 72,834 shares of the basic materials company’s stock worth $9,432,000 after purchasing an additional 2,190 shares during the last quarter. Finally, Creative Planning increased its stake in shares of Steel Dynamics by 2.6% in the second quarter. Creative Planning now owns 27,138 shares of the basic materials company’s stock valued at $3,514,000 after buying an additional 684 shares in 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.