Steel Dynamics, Inc. (STLD) Lifted to Buy at Longbow Research
Steel Dynamics, Inc. (NASDAQ:STLD) was upgraded by equities researchers at Longbow Research from a “neutral” rating to a “buy” rating in a report issued on Monday, MarketBeat.com reports.
STLD has been the subject of a number of other reports. Berenberg Bank reaffirmed a “buy” rating and set a $44.00 price target on shares of Steel Dynamics in a research report on Thursday, March 16th. Jefferies Group LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of Steel Dynamics in a research report on Thursday, March 16th. Zacks Investment Research lowered Steel Dynamics from a “buy” rating to a “hold” rating in a report on Wednesday, March 8th. Deutsche Bank AG increased their price objective on Steel Dynamics from $42.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, March 21st. Finally, Macquarie raised Steel Dynamics from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $38.00 to $44.00 in a report on Monday, April 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. Steel Dynamics has a consensus rating of “Buy” and an average target price of $37.91.
Steel Dynamics (NASDAQ:STLD) traded up 0.54% on Monday, reaching $33.36. The company’s stock had a trading volume of 2,273,619 shares. Steel Dynamics has a 52-week low of $22.79 and a 52-week high of $40.17. The company has a market cap of $8.07 billion, a P/E ratio of 15.75 and a beta of 1.29. The firm’s 50-day moving average price is $34.81 and its 200 day moving average price is $35.53.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data 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 firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.19 billion. Steel Dynamics had a return on equity of 21.77% and a net margin of 6.19%. The company’s quarterly revenue was up 36.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.26 earnings per share. Equities analysts anticipate that Steel Dynamics will post $2.96 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 30th will be given a $0.155 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.87%. Steel Dynamics’s dividend payout ratio (DPR) is presently 29.25%.
Large investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new stake in shares of Steel Dynamics during the fourth quarter worth about $8,191,000. Commerzbank Aktiengesellschaft FI acquired a new stake in shares of Steel Dynamics during the fourth quarter worth about $218,000. State Board of Administration of Florida Retirement System increased its stake in shares of Steel Dynamics by 3.2% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 344,467 shares of the basic materials company’s stock worth $12,256,000 after buying an additional 10,770 shares during the period. FMR LLC increased its stake in shares of Steel Dynamics by 213.7% in the fourth quarter. FMR LLC now owns 5,798,084 shares of the basic materials company’s stock worth $206,295,000 after buying an additional 3,949,708 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its stake in shares of Steel Dynamics by 1.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 10,270 shares of the basic materials company’s stock worth $365,000 after buying an additional 189 shares during the period. Institutional investors own 83.62% of the company’s stock.
About Steel Dynamics
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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