Steel Dynamics Inc. (STLD) Given a $35.00 Price Target at Berenberg Bank
Several other research firms also recently weighed in on STLD. Barclays PLC restated an overweight rating and issued a $28.00 price objective (up from $27.00) on shares of Steel Dynamics in a report on Tuesday, July 12th. Bank of America Corp. downgraded shares of Steel Dynamics from a buy rating to a neutral rating and set a $28.00 target price for the company. in a report on Wednesday, July 20th. Cowen and Company boosted their target price on shares of Steel Dynamics from $30.00 to $33.00 and gave the stock an outperform rating in a report on Wednesday, July 20th. Jefferies Group reiterated a buy rating and issued a $31.00 target price on shares of Steel Dynamics in a report on Wednesday, July 20th. Finally, Clarkson Capital reiterated a neutral rating and issued a $24.00 target price on shares of Steel Dynamics in a report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $27.77.
Shares of Steel Dynamics (NASDAQ:STLD) traded up 1.49% during trading on Tuesday, hitting $24.57. 1,878,053 shares of the stock traded hands. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 501.43 and a beta of 1.70. The stock has a 50 day moving average of $25.00 and a 200 day moving average of $24.55. Steel Dynamics has a 52-week low of $15.32 and a 52-week high of $28.01.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Monday, July 18th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.02. The firm earned $2.02 billion during the quarter, compared to the consensus estimate of $2.03 billion. Steel Dynamics had a return on equity of 10.79% and a net margin of 0.17%. During the same period in the previous year, the company posted $0.22 earnings per share. Analysts expect that Steel Dynamics will post $2.09 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Wednesday, September 28th. Steel Dynamics’s payout ratio is presently 1,120.00%.
In other Steel Dynamics news, Director Keith E. Busse sold 13,155 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $27,186,138. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jurgen Dr Kolb sold 1,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 65,014 shares of the company’s stock, valued at $1,722,871. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. acquired a new position in shares of Steel Dynamics during the second quarter valued at $1,923,000. KAMES CAPITAL plc acquired a new position in shares of Steel Dynamics during the second quarter valued at $14,849,000. Mason Street Advisors LLC acquired a new position in shares of Steel Dynamics during the second quarter valued at $2,721,000. Royal Bank of Canada increased its position in shares of Steel Dynamics by 12.0% in the second quarter. Royal Bank of Canada now owns 1,589,888 shares of the company’s stock valued at $38,952,000 after buying an additional 169,904 shares during the last quarter. Finally, Cohen & Steers Inc. acquired a new position in shares of Steel Dynamics during the second quarter valued at $6,725,000. 82.42% of the stock is owned by institutional investors and hedge funds.
Steel Dynamics Company Profile
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