Steel Dynamics, Inc. (NASDAQ:STLD) Receives Average Rating of “Hold” from Analysts

Steel Dynamics, Inc. (NASDAQ:STLD) has been assigned an average rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat reports. Six equities research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $144.25.

Several research analysts recently weighed in on STLD shares. The Goldman Sachs Group began coverage on Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target on the stock. BMO Capital Markets increased their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. UBS Group reaffirmed a “neutral” rating and set a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Citigroup decreased their target price on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th.

Insider Transactions at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $138.75, for a total transaction of $277,500.00. Following the completion of the sale, the senior vice president now directly owns 21,101 shares of the company’s stock, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction on Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the transaction, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. This trade represents a 10.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,591 shares of company stock worth $3,885,938. 6.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Lord Abbett & CO. LLC raised its stake in Steel Dynamics by 116.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock valued at $128,434,000 after purchasing an additional 548,086 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of Steel Dynamics during the 3rd quarter worth about $650,000. Tidal Investments LLC raised its position in shares of Steel Dynamics by 6.4% during the third quarter. Tidal Investments LLC now owns 26,413 shares of the basic materials company’s stock valued at $3,330,000 after buying an additional 1,585 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Steel Dynamics in the third quarter valued at about $25,000. Finally, World Investment Advisors LLC acquired a new stake in Steel Dynamics during the third quarter worth about $15,880,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

Shares of STLD opened at $114.07 on Wednesday. The company has a 50-day moving average of $134.02 and a two-hundred day moving average of $127.15. The stock has a market cap of $17.37 billion, a price-to-earnings ratio of 10.32 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. Steel Dynamics has a one year low of $104.60 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the business posted $3.47 EPS. The company’s revenue was down 5.4% on a year-over-year basis. On average, equities research analysts expect that Steel Dynamics will post 10.09 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.61%. Steel Dynamics’s dividend payout ratio (DPR) is currently 16.65%.

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.