Steel Dynamics Inc. (STLD) PT Set at $33.00 by Cowen and Company
Steel Dynamics Inc. (NASDAQ:STLD) received a $33.00 price objective from equities researchers at Cowen and Company in a report released on Tuesday. The firm currently has a a “buy” rating on the stock. Cowen and Company’s price objective suggests a potential upside of 36.31% from the stock’s previous close.
STLD has been the subject of a number of other research reports. Jefferies Group restated a “buy” rating on shares of Steel Dynamics in a research report on Wednesday, August 3rd. Credit Suisse Group AG lifted their price target on Steel Dynamics from $27.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 8th. Citigroup Inc. started coverage on Steel Dynamics in a research note on Monday, August 22nd. They issued a “buy” rating and a $33.00 price target on the stock. Bank of America Corp. cut Steel Dynamics from a “buy” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research note on Wednesday, July 20th. Finally, Zacks Investment Research raised Steel Dynamics from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the stock. Steel Dynamics has an average rating of “Buy” and an average price target of $27.77.
Steel Dynamics (NASDAQ:STLD) traded up 1.36% during midday trading on Tuesday, reaching $24.54. 1,846,621 shares of the company traded hands. The firm has a market capitalization of $5.98 billion, a price-to-earnings ratio of 500.82 and a beta of 1.70. Steel Dynamics has a one year low of $15.32 and a one year high of $28.01. The firm has a 50-day moving average price of $25.00 and a 200-day moving average price of $24.55.
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Steel Dynamics (NASDAQ:STLD) last released its earnings results on Monday, July 18th. The company reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.02. The company earned $2.02 billion during the quarter, compared to the consensus estimate of $2.03 billion. Steel Dynamics had a return on equity of 10.79% and a net margin of 0.17%. During the same quarter in the previous year, the company posted $0.22 EPS. Equities analysts predict that Steel Dynamics will post $2.09 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Wednesday, September 28th. Steel Dynamics’s dividend payout ratio (DPR) is 1,120.00%.
In other Steel Dynamics news, Director Jurgen Dr Kolb sold 1,000 shares of the business’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $26.50, for a total value of $26,500.00. Following the sale, the director now directly owns 65,014 shares of the company’s stock, valued at $1,722,871. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith E. Busse sold 13,155 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $27.00, for a total value of $355,185.00. Following the completion of the sale, the director now directly owns 1,006,894 shares in the company, valued at $27,186,138. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in STLD. Fuller & Thaler Asset Management Inc. increased its position in shares of Steel Dynamics by 54.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,800 shares of the company’s stock worth $118,000 after buying an additional 1,700 shares during the last quarter. Acrospire Investment Management LLC increased its position in shares of Steel Dynamics by 137.5% in the second quarter. Acrospire Investment Management LLC now owns 5,699 shares of the company’s stock worth $140,000 after buying an additional 3,299 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Steel Dynamics by 1,676.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,843 shares of the company’s stock worth $143,000 after buying an additional 5,514 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of Steel Dynamics by 991.5% in the second quarter. Loomis Sayles & Co. L P now owns 7,029 shares of the company’s stock worth $172,000 after buying an additional 6,385 shares during the last quarter. Finally, North Point Portfolio Managers Corp OH acquired a new position in shares of Steel Dynamics during the second quarter worth about $203,000. 82.42% of the stock is currently owned by institutional investors and hedge funds.
Steel Dynamics Company Profile
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