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

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have been given a consensus rating of “Hold” by the seven analysts that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $141.86.

Several brokerages recently weighed in on STLD. Morgan Stanley lifted their price objective on Steel Dynamics from $134.00 to $138.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a research report on Tuesday, July 16th. Jefferies Financial Group assumed coverage on shares of Steel Dynamics in a report on Monday, May 20th. They issued a “hold” rating and a $150.00 price objective for the company. Bank of America reduced their price objective on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Finally, BMO Capital Markets dropped their target price on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 18th.

Steel Dynamics Stock Down 0.7 %

STLD opened at $113.12 on Thursday. The company’s 50-day moving average price is $123.55 and its two-hundred day moving average price is $130.33. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. Steel Dynamics has a twelve month low of $95.53 and a twelve month high of $151.34. The stock has a market cap of $17.45 billion, a price-to-earnings ratio of 7.77 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.05. The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. Steel Dynamics’s revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.81 earnings per share. As a group, equities analysts expect that Steel Dynamics will post 10.74 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.63%. The ex-dividend date is Monday, September 30th. Steel Dynamics’s payout ratio is 12.64%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Atomi Financial Group Inc. boosted its stake in Steel Dynamics by 3.1% during the first quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock valued at $395,000 after buying an additional 79 shares during the period. Csenge Advisory Group raised its holdings in shares of Steel Dynamics by 2.8% in the 2nd quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock valued at $381,000 after acquiring an additional 81 shares in the last quarter. Greenfield Savings Bank boosted its position in shares of Steel Dynamics by 0.7% during the 1st quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock valued at $1,731,000 after acquiring an additional 85 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Steel Dynamics by 9.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock valued at $126,000 after acquiring an additional 88 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Steel Dynamics by 19.2% during the first quarter. Global Retirement Partners LLC now owns 570 shares of the basic materials company’s stock worth $84,000 after purchasing an additional 92 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.