Steel Dynamics Inc. (STLD) Earns “Overweight” Rating from Barclays PLC
Steel Dynamics Inc. (NASDAQ:STLD)‘s stock had its “overweight” rating restated by stock analysts at Barclays PLC in a research report issued on Thursday. They presently have a $30.00 target price on the stock. Barclays PLC’s target price suggests a potential upside of 21.36% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. Jefferies Group reissued a “buy” rating and issued a $31.00 price objective (up from $28.00) on shares of Steel Dynamics in a research note on Friday, June 10th. Cowen and Company set a $33.00 price objective on Steel Dynamics and gave the stock a “buy” rating in a research note on Tuesday. Rosenblatt Securities began coverage on Steel Dynamics in a research note on Wednesday, June 1st. They issued a “buy” rating and a $21.00 price objective for the company. Berenberg Bank reissued a “buy” rating and issued a $35.00 price objective on shares of Steel Dynamics in a research note on Tuesday, August 2nd. Finally, Zacks Investment Research raised Steel Dynamics from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Thursday, July 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $27.87.
Steel Dynamics (NASDAQ:STLD) traded up 0.708% during trading on Thursday, hitting $24.895. The stock had a trading volume of 1,729,748 shares. Steel Dynamics has a 52 week low of $15.32 and a 52 week high of $28.01. The firm has a market cap of $6.07 billion, a PE ratio of 508.061 and a beta of 1.70. The company’s 50-day moving average is $24.90 and its 200 day moving average is $24.56.
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Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Monday, July 18th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. The firm 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 period in the prior year, the business earned $0.22 EPS. Equities analysts expect that Steel Dynamics will post $2.07 EPS for the current fiscal year.
The firm 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 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Wednesday, September 28th. Steel Dynamics’s dividend payout ratio (DPR) is currently 1,120.00%.
In other Steel Dynamics news, Director Keith E. Busse sold 13,155 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 1,006,894 shares of the company’s stock, valued at approximately $27,186,138. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jurgen Dr Kolb sold 17,900 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $27.20, for a total value of $486,880.00. Following the completion of the sale, the director now directly owns 65,014 shares in the company, valued at approximately $1,768,380.80. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in STLD. Anchor Bolt Capital LP raised its stake in shares of Steel Dynamics by 151.7% in the first quarter. Anchor Bolt Capital LP now owns 1,644,019 shares of the company’s stock valued at $37,007,000 after buying an additional 990,895 shares during the last quarter. State Street Corp raised its stake in shares of Steel Dynamics by 7.0% in the first quarter. State Street Corp now owns 7,329,496 shares of the company’s stock valued at $164,995,000 after buying an additional 480,693 shares during the last quarter. Panagora Asset Management Inc. raised its stake in shares of Steel Dynamics by 99.3% in the first quarter. Panagora Asset Management Inc. now owns 1,319,918 shares of the company’s stock valued at $29,711,000 after buying an additional 657,640 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Steel Dynamics by 32.7% in the first quarter. TIAA CREF Investment Management LLC now owns 2,368,036 shares of the company’s stock valued at $53,304,000 after buying an additional 584,195 shares during the last quarter. Finally, Raymond James Trust N.A. purchased a new stake in shares of Steel Dynamics during the second quarter valued at $286,000. 82.42% of the stock is currently owned by hedge funds and other institutional investors.
Steel Dynamics Company Profile
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