Steel Dynamics (NASDAQ:STLD) PT Set at $95.00 by UBS Group

UBS Group set a $95.00 price objective on Steel Dynamics (NASDAQ:STLD – Get Rating) in a report released on Monday morning, Stock Target Advisor reports.

Several other research firms have also recently issued reports on STLD. StockNews.com began coverage on shares of Steel Dynamics in a research note on Thursday, March 31st. They set a buy rating on the stock. JPMorgan Chase & Co. decreased their price target on shares of Steel Dynamics from $129.00 to $110.00 in a research note on Tuesday, June 14th. The Goldman Sachs Group lowered shares of Steel Dynamics from a buy rating to a neutral rating and cut their price objective for the stock from $114.00 to $92.00 in a report on Tuesday, May 31st. Finally, BMO Capital Markets increased their price objective on shares of Steel Dynamics from $95.00 to $104.00 in a report on Friday, April 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and an average target price of $87.00.

Steel Dynamics stock opened at $65.98 on Monday. Steel Dynamics has a 52 week low of $50.54 and a 52 week high of $100.37. The company has a quick ratio of 1.74, a current ratio of 3.42 and a debt-to-equity ratio of 0.45. The firm’s 50-day simple moving average is $80.63 and its 200 day simple moving average is $72.46. The firm has a market capitalization of $12.45 billion, a PE ratio of 3.41 and a beta of 1.30.

Steel Dynamics (NASDAQ:STLD – Get Rating) last released its earnings results on Wednesday, April 20th. The basic materials company reported $6.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.58 by $0.44. Steel Dynamics had a net margin of 19.02% and a return on equity of 69.88%. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the prior year, the firm earned $2.10 EPS. The firm’s quarterly revenue was up 57.1% on a year-over-year basis. On average, research analysts expect that Steel Dynamics will post 19.84 EPS for the current fiscal year.

Steel Dynamics announced that its Board of Directors has authorized a share repurchase plan on Monday, February 28th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 8.9% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, June 29th. Steel Dynamics’s dividend payout ratio is presently 7.02%.

In related news, Director Keith E. Busse sold 5,040 shares of Steel Dynamics stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $83.51, for a total transaction of $420,890.40. Following the sale, the director now directly owns 724,034 shares in the company, valued at $60,464,079.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.40% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in shares of Steel Dynamics by 3.2% in the 1st quarter. BlackRock Inc. now owns 25,820,456 shares of the basic materials company’s stock valued at $2,154,201,000 after buying an additional 801,335 shares in the last quarter. State Street Corp grew its stake in shares of Steel Dynamics by 9.5% in the 1st quarter. State Street Corp now owns 9,207,455 shares of the basic materials company’s stock valued at $771,198,000 after buying an additional 800,656 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Steel Dynamics by 2.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,579,529 shares of the basic materials company’s stock worth $548,937,000 after purchasing an additional 131,147 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Steel Dynamics by 2.4% during the first quarter. Victory Capital Management Inc. now owns 4,719,986 shares of the basic materials company’s stock worth $394,294,000 after buying an additional 111,469 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in shares of Steel Dynamics by 52.4% during the third quarter. Wellington Management Group LLP now owns 3,383,492 shares of the basic materials company’s stock worth $197,866,000 after buying an additional 1,163,597 shares during the last quarter. 83.19% of the stock is currently owned by institutional investors.

Steel Dynamics Company Profile (Get Rating)

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.

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