Steel Dynamics Inc. (STLD) Given a $33.00 Price Target by Credit Suisse Group AG Analysts
Steel Dynamics Inc. (NASDAQ:STLD) received a $33.00 target price from equities researchers at Credit Suisse Group AG in a research report issued on Saturday. The brokerage presently has a a “buy” rating on the stock. Credit Suisse Group AG’s target price would suggest a potential upside of 36.31% from the stock’s current price.
A number of other research firms have also weighed in on STLD. BMO Capital Markets reiterated an “outperform” rating and issued a $30.00 price objective on shares of Steel Dynamics in a research report on Friday, July 22nd. Zacks Investment Research downgraded Steel Dynamics from a “buy” rating to a “hold” rating in a report on Friday, July 1st. Jefferies Group reissued a “buy” rating and issued a $31.00 target price (up previously from $28.00) on shares of Steel Dynamics in a report on Friday, June 10th. Barclays PLC reissued an “overweight” rating and issued a $30.00 target price on shares of Steel Dynamics in a report on Thursday, September 22nd. Finally, Cowen and Company raised their target price on Steel Dynamics from $30.00 to $33.00 and gave the company an “outperform” rating in a report on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. Steel Dynamics presently has an average rating of “Buy” and a consensus target price of $27.87.
Shares of Steel Dynamics (NASDAQ:STLD) traded down 0.08% during midday trading on Friday, hitting $24.21. 1,871,272 shares of the company were exchanged. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 494.08 and a beta of 1.57. Steel Dynamics has a 52-week low of $15.32 and a 52-week high of $28.01. The company has a 50-day moving average price of $24.54 and a 200-day moving average price of $24.83.
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Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Monday, July 18th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. Steel Dynamics had a net margin of 0.17% and a return on equity of 10.79%. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the firm posted $0.22 EPS. On average, analysts forecast that Steel Dynamics will post $2.06 EPS for the current year.
The firm also recently declared 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 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 Steel Dynamics stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $26.50, for a total value of $26,500.00. Following the completion of the sale, the director now owns 65,014 shares in the company, valued at approximately $1,722,871. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith E. Busse sold 13,155 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. Monarch Capital Management Inc. boosted its stake in shares of Steel Dynamics by 2.6% in the fourth quarter. Monarch Capital Management Inc. now owns 109,695 shares of the company’s stock worth $1,960,000 after buying an additional 2,750 shares during the last quarter. Nisa Investment Advisors boosted its stake in shares of Steel Dynamics by 11.9% in the fourth quarter. Nisa Investment Advisors now owns 37,720 shares of the company’s stock worth $674,000 after buying an additional 4,000 shares during the last quarter. Crow Point Partners boosted its stake in shares of Steel Dynamics by 2.2% in the third quarter. Crow Point Partners now owns 20,141 shares of the company’s stock worth $346,000 after buying an additional 435 shares during the last quarter. Deprince Race & Zollo Inc. boosted its stake in shares of Steel Dynamics by 4.5% in the fourth quarter. Deprince Race & Zollo Inc. now owns 2,033,359 shares of the company’s stock worth $36,336,000 after buying an additional 88,380 shares during the last quarter. Finally, Nikko Asset Management Americas boosted its stake in shares of Steel Dynamics by 26.5% in the fourth quarter. Nikko Asset Management Americas now owns 360,600 shares of the company’s stock worth $6,473,000 after buying an additional 75,500 shares during the last quarter. Institutional investors and hedge funds own 82.42% of the company’s stock.
Steel Dynamics Company Profile
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