Steel Dynamics, Inc. (NASDAQ:STLD) Receives $143.38 Average Target Price from Analysts

Steel Dynamics, Inc. (NASDAQ:STLD) has received a consensus rating of “Hold” from the nine research firms that are covering the stock, Marketbeat reports. Five analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $143.38.

A number of research analysts have issued reports on the stock. UBS Group restated a “neutral” rating and issued a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Citigroup cut their price objective on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. StockNews.com cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Finally, BNP Paribas upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics 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 owns 21,101 shares of the company’s stock, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the sale, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Steel Dynamics

A number of institutional investors have recently modified their holdings of the company. Holocene Advisors LP grew its position in Steel Dynamics by 85.8% in the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after purchasing an additional 1,060,007 shares during the last quarter. Lord Abbett & CO. LLC boosted its position in Steel Dynamics by 116.5% in 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 buying an additional 548,086 shares during the last quarter. Nordea Investment Management AB increased its position in Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after purchasing an additional 253,802 shares during the period. AEGON ASSET MANAGEMENT UK Plc raised its stake in shares of Steel Dynamics by 192.4% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 250,621 shares of the basic materials company’s stock worth $28,577,000 after buying an additional 164,895 shares during the last quarter. Finally, World Investment Advisors LLC acquired a new position in shares of Steel Dynamics in the 3rd quarter valued at $15,880,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $130.71 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The firm’s fifty day moving average price is $126.04 and its 200 day moving average price is $126.36. The firm has a market cap of $19.90 billion, a price-to-earnings ratio of 13.34 and a beta of 1.36. Steel Dynamics has a 1-year low of $104.60 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.25%. During the same quarter last year, the firm earned $2.61 earnings per share. On average, sell-side analysts expect that Steel Dynamics will post 8.93 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is currently 18.78%.

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.