Steel Dynamics, Inc. (STLD) Receives Consensus Rating of “Buy” from Analysts
Steel Dynamics, Inc. (NASDAQ:STLD) has received a consensus recommendation of “Buy” from the nineteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $40.89.
STLD has been the subject of a number of recent research reports. Cowen and Company reiterated a “buy” rating and issued a $44.00 price objective on shares of Steel Dynamics in a report on Wednesday, July 19th. BidaskClub upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Clarkson Capital reiterated a “neutral” rating on shares of Steel Dynamics in a report on Thursday, July 20th. Jefferies Group LLC reiterated a “buy” rating and issued a $43.00 price objective (up previously from $42.00) on shares of Steel Dynamics in a report on Saturday, July 22nd. Finally, Bank of America Corporation increased their price objective on shares of Steel Dynamics from $40.00 to $42.00 and gave the company a “buy” rating in a report on Friday, July 21st.
Shares of Steel Dynamics (STLD) opened at 38.73 on Thursday. The stock has a 50 day moving average price of $35.21 and a 200 day moving average price of $35.10. The company has a market capitalization of $9.29 billion, a PE ratio of 17.79 and a beta of 1.29. Steel Dynamics has a one year low of $26.29 and a one year high of $40.17.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.66. The firm had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. Steel Dynamics’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS. On average, equities research analysts predict that Steel Dynamics will post $2.68 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Saturday, September 30th were issued a dividend of $0.155 per share. The ex-dividend date was Thursday, September 28th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.60%. Steel Dynamics’s dividend payout ratio is currently 28.57%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Toronto Dominion Bank acquired a new stake in shares of Steel Dynamics during the 2nd quarter worth approximately $107,000. Hefty Wealth Partners increased its holdings in shares of Steel Dynamics by 76.1% during the 3rd quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock worth $118,000 after buying an additional 1,477 shares during the last quarter. Washington Trust Bank increased its holdings in shares of Steel Dynamics by 48.8% during the 2nd quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock worth $122,000 after buying an additional 1,113 shares during the last quarter. Advisory Services Network LLC increased its holdings in Steel Dynamics by 2.3% in the 2nd quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock valued at $158,000 after purchasing an additional 101 shares during the last quarter. Finally, Creative Planning increased its holdings in Steel Dynamics by 36.3% in the 2nd quarter. Creative Planning now owns 4,718 shares of the basic materials company’s stock valued at $169,000 after purchasing an additional 1,256 shares during the last quarter. Institutional investors and hedge funds own 82.78% of the company’s stock.
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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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