Steel Dynamics, Inc. (NASDAQ:STLD) Receives $214.30 Consensus Price Target from Analysts

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have received an average recommendation of “Hold” from the eleven brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $214.30.

STLD has been the topic of several recent analyst reports. Morgan Stanley reaffirmed an “underperform” rating and issued a $190.00 price target on shares of Steel Dynamics in a research note on Tuesday, March 17th. JPMorgan Chase & Co. upped their price target on Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Wall Street Zen raised Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Finally, Citigroup upped their price target on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd.

Insider Activity at Steel Dynamics

In related news, Director Kenneth W. Cornew sold 5,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total value of $1,124,350.00. Following the sale, the director owned 31,299 shares in the company, valued at approximately $7,038,206.13. The trade was a 13.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the transaction, the senior vice president directly owned 28,618 shares in the company, valued at approximately $6,699,759.98. The trade was a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 12,125 shares of company stock worth $2,751,227. 6.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Steel Dynamics

Several hedge funds have recently bought and sold shares of the company. Capital Research Global Investors lifted its stake in Steel Dynamics by 0.3% during the 4th quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company’s stock worth $613,926,000 after acquiring an additional 9,959 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new position in Steel Dynamics during the 4th quarter worth about $586,702,000. Norges Bank acquired a new position in Steel Dynamics during the 4th quarter worth about $564,590,000. Robeco Institutional Asset Management B.V. lifted its stake in Steel Dynamics by 3.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock worth $340,289,000 after acquiring an additional 72,122 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Steel Dynamics by 6.3% during the 4th quarter. Invesco Ltd. now owns 1,965,092 shares of the basic materials company’s stock worth $332,985,000 after acquiring an additional 116,379 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Up 2.2%

Shares of NASDAQ:STLD opened at $228.30 on Friday. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $200.47 and a two-hundred day moving average of $184.06. The stock has a market cap of $33.04 billion, a P/E ratio of 24.42, a PEG ratio of 0.48 and a beta of 1.48. Steel Dynamics has a 52-week low of $119.89 and a 52-week high of $243.73.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the company earned $1.44 EPS. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. On average, research analysts expect that Steel Dynamics will post 14.77 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is 22.67%.

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.