Steel Dynamics, Inc. (NASDAQ:STLD) Given Average Rating of “Hold” by Brokerages

Steel Dynamics, Inc. (NASDAQ:STLD) has been assigned an average recommendation of “Hold” from the eleven analysts that are presently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $182.00.

Several equities analysts have issued reports on STLD shares. Morgan Stanley restated an “equal weight” rating and issued a $194.00 price objective (up previously from $173.00) on shares of Steel Dynamics in a research note on Friday, January 9th. Citigroup upped their target price on Steel Dynamics from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. The Goldman Sachs Group set a $172.00 price objective on Steel Dynamics and gave the company a “neutral” rating in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 29th. Finally, Wells Fargo & Company lifted their target price on shares of Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, December 15th.

Hedge Funds Weigh In On Steel Dynamics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Planning Group LLC lifted its position in Steel Dynamics by 1,636.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 180 shares during the period. Sound Income Strategies LLC raised its stake in shares of Steel Dynamics by 1,500.0% during the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 150 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of Steel Dynamics during the second quarter worth $30,000. Rosenberg Matthew Hamilton grew its position in Steel Dynamics by 306.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock valued at $34,000 after buying an additional 199 shares during the last quarter. Finally, Torren Management LLC acquired a new position in Steel Dynamics in the 4th quarter valued at $34,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD opened at $198.88 on Thursday. The company has a market capitalization of $29.04 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 0.52 and a beta of 1.46. Steel Dynamics has a 52-week low of $103.17 and a 52-week high of $199.10. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average price of $173.61 and a 200 day moving average price of $151.85.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.10. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same quarter in the previous year, the firm earned $1.36 EPS. The company’s revenue was up 14.0% compared to the same quarter last year. Research analysts predict that Steel Dynamics will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st were paid a $0.50 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.0%. Steel Dynamics’s payout ratio is currently 24.97%.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.