Analysts Set Steel Dynamics, Inc. (NASDAQ:STLD) PT at $182.00

Steel Dynamics, Inc. (NASDAQ:STLD) has earned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $184.2222.

A number of analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Steel Dynamics from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. KeyCorp reaffirmed an “overweight” rating and set a $190.00 price objective on shares of Steel Dynamics in a research report on Wednesday, January 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. JPMorgan Chase & Co. increased their target price on Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Finally, Morgan Stanley restated an “equal weight” rating and set a $194.00 price target (up from $173.00) on shares of Steel Dynamics in a report on Friday, January 9th.

Steel Dynamics Stock Down 1.9%

Shares of Steel Dynamics stock opened at $178.20 on Monday. Steel Dynamics has a 1 year low of $103.17 and a 1 year high of $208.47. The firm has a market cap of $25.82 billion, a price-to-earnings ratio of 22.25, a PEG ratio of 0.49 and a beta of 1.43. The company has a 50-day moving average of $184.10 and a 200 day moving average of $162.58. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.72 by $0.10. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. Steel Dynamics’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.36 earnings per share. As a group, sell-side analysts anticipate that Steel Dynamics will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.53 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.2%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s dividend payout ratio is presently 24.97%.

Institutional Trading of Steel Dynamics

Several large investors have recently added to or reduced their stakes in STLD. Prosperity Bancshares Inc bought a new stake in shares of Steel Dynamics during the 4th quarter valued at $25,000. Cornerstone Planning Group LLC increased its stake in Steel Dynamics by 1,636.4% in 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 last quarter. MV Capital Management Inc. purchased a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $27,000. Sound Income Strategies LLC boosted its position in shares of Steel Dynamics by 1,500.0% during the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 150 shares during the last quarter. Finally, DV Equities LLC bought a new stake in Steel Dynamics in the fourth quarter worth $33,000. 82.41% of the stock is currently owned by institutional investors.

About Steel Dynamics

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.