Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have been assigned a consensus recommendation of “Buy” from the nineteen analysts that are covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $41.58.

A number of equities research analysts have recently weighed in on STLD shares. Bank of America reiterated a “buy” rating and issued a $44.00 price target (up from $42.00) on shares of Steel Dynamics in a research report on Tuesday, September 5th. Jefferies Group reiterated a “buy” rating and issued a $43.00 price target on shares of Steel Dynamics in a research report on Thursday, August 31st. Macquarie started coverage on shares of Steel Dynamics in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $36.00 price target for the company. Morgan Stanley set a $36.00 price target on shares of Steel Dynamics and gave the company a “hold” rating in a research report on Tuesday, October 24th. Finally, KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 price target for the company in a research report on Friday, October 20th.

Shares of Steel Dynamics (NASDAQ STLD) opened at $39.84 on Friday. The company has a current ratio of 3.35, a quick ratio of 1.95 and a debt-to-equity ratio of 0.80. The stock has a market cap of $9,840.00, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 1.27 and a beta of 1.39. Steel Dynamics has a 1 year low of $32.15 and a 1 year high of $41.66.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the business posted $0.64 earnings per share. sell-side analysts anticipate that Steel Dynamics will post 2.67 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Sunday, December 31st will be paid a $0.155 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.62 dividend on an annualized basis and a yield of 1.56%. Steel Dynamics’s dividend payout ratio (DPR) is 28.57%.

A number of large investors have recently made changes to their positions in the stock. IHT Wealth Management LLC increased its stake in Steel Dynamics by 0.7% in the second quarter. IHT Wealth Management LLC now owns 407 shares of the basic materials company’s stock valued at $198,000 after acquiring an additional 3 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its stake in shares of Steel Dynamics by 0.3% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 6,408 shares of the basic materials company’s stock worth $229,000 after buying an additional 20 shares during the last quarter. Advisory Services Network LLC grew its stake in shares of Steel Dynamics by 2.3% during the second quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock worth $158,000 after buying an additional 101 shares during the last quarter. First Allied Advisory Services Inc. grew its stake in shares of Steel Dynamics by 2.8% during the second quarter. First Allied Advisory Services Inc. now owns 8,296 shares of the basic materials company’s stock worth $297,000 after buying an additional 223 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Steel Dynamics by 1.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 14,717 shares of the basic materials company’s stock worth $527,000 after buying an additional 259 shares during the last quarter. 83.45% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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