Steel Dynamics, Inc. (NASDAQ:STLD) Receives $144.25 Average PT from Analysts

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have been given a consensus rating of “Hold” by the nine analysts that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $144.25.

A number of equities analysts have issued reports on the company. BMO Capital Markets increased their target price on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. BNP Paribas upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday. Citigroup reduced their price target on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group started coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective on the stock.

Insider Buying and Selling

In other news, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This trade represents a 10.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Chad Bickford sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares in the company, valued at $2,306,106. The trade was a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,591 shares of company stock worth $3,885,938. Insiders own 6.00% of the company’s stock.

Institutional Trading of Steel Dynamics

A number of hedge funds have recently modified their holdings of the stock. Everence Capital Management Inc. bought a new position in Steel Dynamics in the 4th quarter valued at about $216,000. GAMMA Investing LLC grew its position in shares of Steel Dynamics by 24.3% in the fourth quarter. GAMMA Investing LLC now owns 2,420 shares of the basic materials company’s stock valued at $276,000 after purchasing an additional 473 shares during the last quarter. Lord Abbett & CO. LLC increased its stake in shares of Steel Dynamics by 116.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after purchasing an additional 548,086 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in Steel Dynamics during the 3rd quarter worth approximately $650,000. Finally, Tidal Investments LLC boosted its stake in Steel Dynamics by 6.4% in the 3rd quarter. Tidal Investments LLC now owns 26,413 shares of the basic materials company’s stock valued at $3,330,000 after purchasing an additional 1,585 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Up 1.1 %

Shares of Steel Dynamics stock opened at $113.15 on Wednesday. Steel Dynamics has a 1 year low of $104.60 and a 1 year high of $155.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The company has a market capitalization of $17.23 billion, a P/E ratio of 10.24 and a beta of 1.36. The business has a 50-day moving average of $132.68 and a two-hundred day moving average of $126.84.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the prior year, the company earned $3.47 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, equities analysts predict that Steel Dynamics will post 10.09 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.63%. Steel Dynamics’s dividend payout ratio is presently 16.65%.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.