Steel Dynamics Inc. (STLD) PT Set at $35.00 by Berenberg Bank
Steel Dynamics Inc. (NASDAQ:STLD) has been assigned a $35.00 price target by analysts at Berenberg Bank in a research report issued to clients and investors on Tuesday. The brokerage presently has a a “buy” rating on the stock. Berenberg Bank’s target price would suggest a potential upside of 44.57% from the stock’s current price.
STLD has been the subject of several other research reports. Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Thursday, July 7th. Bank of America Corp. cut Steel Dynamics from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a research note on Wednesday, July 20th. Credit Agricole SA decreased their price target on Steel Dynamics from $29.00 to $27.00 and set a “market perform” rating for the company in a research note on Wednesday. Citigroup Inc. started coverage on Steel Dynamics in a research report on Monday, August 22nd. They set a “buy” rating and a $33.00 price objective for the company. Finally, Jefferies Group reiterated a “buy” rating and set a $31.00 price objective on shares of Steel Dynamics in a research report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $27.77.
Shares of Steel Dynamics (NASDAQ:STLD) traded up 1.36% during mid-day trading on Tuesday, hitting $24.54. The stock had a trading volume of 1,846,621 shares. The stock’s 50-day moving average is $25.00 and its 200 day moving average is $24.55. The company has a market cap of $5.98 billion, a PE ratio of 500.82 and a beta of 1.70. Steel Dynamics has a 12 month low of $15.32 and a 12 month high of $28.01.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, July 18th. The company reported $0.58 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.02. Steel Dynamics had a return on equity of 10.79% and a net margin of 0.17%. The firm earned $2.02 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the business earned $0.22 earnings per share. On average, equities research analysts forecast that Steel Dynamics will post $2.09 earnings per share for the current fiscal year.
The company 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 dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Wednesday, September 28th. Steel Dynamics’s payout ratio is presently 1,120.00%.
In other news, Director Keith E. Busse sold 13,155 shares of the firm’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 sale, the director now directly owns 1,006,894 shares of the company’s stock, valued at approximately $27,186,138. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jurgen Dr Kolb sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $26.50, for a total value of $26,500.00. Following the completion of the sale, 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. Corporate insiders own 4.10% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Fuller & Thaler Asset Management Inc. raised its stake in Steel Dynamics by 54.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,800 shares of the company’s stock valued at $118,000 after buying an additional 1,700 shares during the last quarter. Acrospire Investment Management LLC raised its stake in Steel Dynamics by 137.5% in the second quarter. Acrospire Investment Management LLC now owns 5,699 shares of the company’s stock valued at $140,000 after buying an additional 3,299 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Steel Dynamics by 1,676.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,843 shares of the company’s stock valued at $143,000 after buying an additional 5,514 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in Steel Dynamics by 991.5% in the second quarter. Loomis Sayles & Co. L P now owns 7,029 shares of the company’s stock valued at $172,000 after buying an additional 6,385 shares during the last quarter. Finally, North Point Portfolio Managers Corp OH bought a new stake in Steel Dynamics during the second quarter valued at about $203,000. 82.42% of the stock is owned by institutional investors and hedge funds.
Steel Dynamics Company Profile
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