Berenberg Bank Reaffirms “Buy” Rating for Steel Dynamics, Inc. (STLD)
Steel Dynamics, Inc. (NASDAQ:STLD)‘s stock had its “buy” rating reissued by stock analysts at Berenberg Bank in a research report issued to clients and investors on Monday. They presently have a $46.00 price objective on the basic materials company’s stock. Berenberg Bank’s price objective indicates a potential upside of 38.64% from the stock’s previous close.
Several other equities analysts have also commented on STLD. Zacks Investment Research lowered shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Wednesday, March 8th. Jefferies Group LLC restated a “buy” rating and set a $45.00 price target on shares of Steel Dynamics in a research report on Thursday, March 16th. Macquarie restated a “neutral” rating on shares of Steel Dynamics in a research report on Monday, March 20th. Deutsche Bank AG upped their price target on shares of Steel Dynamics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, March 21st. Finally, J P Morgan Chase & Co upped their price objective on shares of Steel Dynamics from $41.00 to $44.00 and gave the stock an “overweight” rating in a report on Wednesday, March 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $38.03.
Steel Dynamics (NASDAQ STLD) traded up 0.527% during mid-day trading on Monday, hitting $33.355. 2,623,066 shares of the stock traded hands. The firm has a market cap of $8.06 billion, a price-to-earnings ratio of 15.748 and a beta of 1.29. Steel Dynamics has a 1-year low of $22.79 and a 1-year high of $40.17. The stock has a 50-day moving average of $34.81 and a 200 day moving average of $35.53.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, April 19th. The basic materials company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.79 by $0.03. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.19 billion. Steel Dynamics had a net margin of 6.19% and a return on equity of 21.77%. The company’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 earnings per share. On average, equities analysts expect that Steel Dynamics will post $2.96 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 7th. Shareholders of record on Friday, June 30th will be issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Wednesday, June 28th. Steel Dynamics’s payout ratio is 29.25%.
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Large investors have recently modified their holdings of the stock. Advantage Investment Management LLC increased its stake in shares of Steel Dynamics by 39.6% in the first quarter. Advantage Investment Management LLC now owns 3,350 shares of the basic materials company’s stock worth $116,000 after buying an additional 950 shares during the last quarter. Seven Eight Capital LP purchased a new stake in Steel Dynamics during the fourth quarter worth approximately $141,000. James Investment Research Inc. purchased a new stake in Steel Dynamics during the first quarter worth approximately $145,000. Ancora Advisors LLC purchased a new stake in Steel Dynamics during the fourth quarter worth approximately $146,000. Finally, Advisory Services Network LLC purchased a new stake in Steel Dynamics during the first quarter worth approximately $150,000. 83.62% of the stock is owned by institutional investors.
Steel Dynamics Company Profile
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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