Steel Dynamics, Inc. (NASDAQ:STLD) Receives Consensus Rating of “Moderate Buy” from Analysts

Steel Dynamics, Inc. (NASDAQ:STLD) has received an average rating of “Moderate Buy” from the twelve brokerages that are covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $257.2727.

Several equities analysts recently weighed in on the stock. Barclays raised their price objective on shares of Steel Dynamics from $270.00 to $272.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Bank of America reduced their price objective on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a research report on Wednesday, July 29th. They set a “buy” rating and a $300.00 target price on the stock. UBS Group boosted their price target on Steel Dynamics from $165.00 to $276.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, Wells Fargo & Company lowered their price objective on Steel Dynamics from $275.00 to $255.00 and set an “overweight” rating on the stock in a report on Monday, August 24th.

Insider Buying and Selling at Steel Dynamics

In other news, SVP James Stanley Anderson sold 10,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the sale, the senior vice president directly owned 102,837 shares in the company, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of STLD. Prosperity Bancshares Inc bought a new position in shares of Steel Dynamics in the fourth quarter worth about $25,000. Meeder Asset Management Inc. bought a new stake in Steel Dynamics during the 2nd quarter valued at approximately $26,000. MV Capital Management Inc. acquired a new stake in Steel Dynamics in the 4th quarter valued at approximately $27,000. Cedar Mountain Advisors LLC bought a new position in Steel Dynamics in the 1st quarter worth approximately $31,000. Finally, NBH Bank bought a new position in Steel Dynamics in the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $234.66 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45. Steel Dynamics has a one year low of $126.88 and a one year high of $288.74. The business’s 50-day moving average price is $242.07 and its two-hundred day moving average price is $223.77. The company has a market capitalization of $33.63 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 0.44 and a beta of 1.52.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates of $3.63 by $0.06. The company had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The business’s quarterly revenue was up 33.4% on a year-over-year basis. During the same period last year, the business earned $2.01 EPS. Analysts anticipate that Steel Dynamics will post 17.16 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. Steel Dynamics’s dividend payout ratio (DPR) is currently 19.22%.

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.