Steel Dynamics, Inc. (NASDAQ:STLD) Receives Average Recommendation of “Hold” from Analysts

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have earned a consensus recommendation of “Hold” from the eleven ratings firms that are currently covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $182.00.

Several research firms have recently commented on STLD. Weiss Ratings restated a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. KeyCorp reiterated an “overweight” rating and set a $190.00 price target on shares of Steel Dynamics in a research note on Wednesday, January 7th. Citigroup increased their price target on shares of Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. UBS Group set a $165.00 price objective on shares of Steel Dynamics in a report on Tuesday, November 4th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $194.00 target price (up from $173.00) on shares of Steel Dynamics in a report on Friday, January 9th.

Steel Dynamics Trading Up 3.1%

Shares of STLD stock opened at $198.88 on Thursday. Steel Dynamics has a 1-year low of $103.17 and a 1-year high of $199.10. The firm has a market cap of $29.04 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 0.52 and a beta of 1.46. The company has a 50-day moving average of $173.61 and a two-hundred day moving average of $151.85. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.72 by $0.10. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.62 billion. During the same period in the prior year, the business posted $1.36 EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, analysts predict that Steel Dynamics will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Wednesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is presently 24.97%.

Institutional Investors Weigh In On Steel Dynamics

Several large investors have recently bought and sold shares of STLD. NewEdge Advisors LLC grew its position in shares of Steel Dynamics by 307.5% during the first quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock worth $102,000 after buying an additional 618 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Steel Dynamics by 82.7% during the 1st quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after acquiring an additional 1,578 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Steel Dynamics by 0.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 23,906 shares of the basic materials company’s stock valued at $3,060,000 after purchasing an additional 175 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Steel Dynamics by 4.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,313 shares of the basic materials company’s stock valued at $2,472,000 after buying an additional 743 shares during the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in Steel Dynamics in the second quarter valued at $60,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.