Steel Dynamics, Inc. (NASDAQ:STLD) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have been assigned a consensus rating of “Hold” from the seven analysts that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $141.29.

A number of analysts have issued reports on the company. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Bank of America decreased their target price 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. Morgan Stanley dropped their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. upgraded shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $120.00 to $131.00 in a report on Monday, September 9th. Finally, BMO Capital Markets lowered their price objective on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a research note on Tuesday, September 17th.

Steel Dynamics Stock Performance

Shares of STLD opened at $125.98 on Monday. Steel Dynamics has a 1 year low of $98.25 and a 1 year high of $151.34. The company’s 50 day simple moving average is $119.47 and its 200 day simple moving average is $128.73. The company has a market capitalization of $19.80 billion, a price-to-earnings ratio of 8.65 and a beta of 1.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly 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 company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.81 EPS. On average, sell-side analysts predict that Steel Dynamics will post 10.32 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.46 per share. The ex-dividend date is Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.46%. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Hedge Funds Weigh In On Steel Dynamics

A number of hedge funds have recently made changes to their positions in STLD. Atomi Financial Group Inc. increased its holdings in Steel Dynamics by 3.1% in the 1st quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock valued at $395,000 after purchasing an additional 79 shares in the last quarter. Csenge Advisory Group raised its holdings in shares of Steel Dynamics by 2.8% during the 2nd quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock valued at $381,000 after buying an additional 81 shares during the period. Greenfield Savings Bank lifted its position in Steel Dynamics by 0.7% during the 1st quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock worth $1,731,000 after acquiring an additional 85 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Steel Dynamics by 9.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock worth $126,000 after acquiring an additional 88 shares during the period. Finally, Dorsey Wright & Associates grew its position in Steel Dynamics by 0.4% in the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock valued at $3,050,000 after acquiring an additional 96 shares in the last quarter. Hedge funds and other institutional investors 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.