Jefferies Group Analysts Give Steel Dynamics Inc. (STLD) a $28.00 Price Target
Other equities analysts have also recently issued reports about the company. Citigroup Inc. began coverage on Steel Dynamics in a research note on Monday, August 22nd. They set a buy rating and a $33.00 price objective on the stock. Morgan Stanley restated a buy rating and set a $27.00 price objective on shares of Steel Dynamics in a research note on Tuesday, August 16th. Zacks Investment Research cut Steel Dynamics from a buy rating to a hold rating in a research note on Saturday, August 13th. Berenberg Bank restated a buy rating and set a $35.00 price objective on shares of Steel Dynamics in a research note on Tuesday, August 2nd. Finally, Cowen and Company set a $33.00 price objective on Steel Dynamics and gave the stock a buy rating in a research note on Monday, August 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $27.86.
Steel Dynamics (NASDAQ:STLD) opened at 24.30 on Thursday. The stock’s 50 day moving average is $25.06 and its 200-day moving average is $24.52. The firm has a market capitalization of $5.92 billion, a PE ratio of 495.92 and a beta of 1.70. Steel Dynamics has a 1-year low of $15.32 and a 1-year high of $28.01.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Monday, July 18th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Steel Dynamics had a net margin of 0.17% and a return on equity of 10.79%. The business earned $2.02 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter last year, the company earned $0.22 earnings per share. Equities research analysts forecast that Steel Dynamics will post $2.08 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.30%. Steel Dynamics’s dividend payout ratio is currently 1,120.00%.
In related news, Director Jurgen Dr Kolb sold 1,000 shares of Steel Dynamics stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $26.50, for a total value of $26,500.00. Following the transaction, the director now owns 65,014 shares of the company’s stock, valued at approximately $1,722,871. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith E. Busse sold 13,155 shares of Steel Dynamics stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $27.00, for a total value of $355,185.00. Following the completion of the transaction, the director now directly owns 1,006,894 shares in the company, valued at approximately $27,186,138. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Steel Dynamics by 23.7% in the second quarter. Vanguard Group Inc. now owns 20,810,938 shares of the company’s stock worth $509,869,000 after buying an additional 3,982,588 shares in the last quarter. Boston Partners boosted its position in shares of Steel Dynamics by 124.9% in the second quarter. Boston Partners now owns 11,042,580 shares of the company’s stock worth $270,544,000 after buying an additional 6,132,303 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Steel Dynamics by 6.2% in the second quarter. BlackRock Fund Advisors now owns 8,542,872 shares of the company’s stock worth $209,300,000 after buying an additional 496,570 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Steel Dynamics by 6.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 8,266,562 shares of the company’s stock worth $202,531,000 after buying an additional 508,330 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Steel Dynamics by 3.7% in the second quarter. State Street Corp now owns 7,602,249 shares of the company’s stock worth $186,255,000 after buying an additional 272,753 shares in the last quarter. 82.54% of the stock is currently owned by hedge funds and other institutional investors.
About Steel Dynamics
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