Steel Dynamics (NASDAQ:STLD) Price Target Increased to $130.00 by Analysts at BMO Capital Markets

Steel Dynamics (NASDAQ:STLD) had its target price lifted by BMO Capital Markets from $127.00 to $130.00 in a report released on Thursday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the basic materials company’s stock.

Other equities analysts have also recently issued reports about the stock. UBS Group raised shares of Steel Dynamics from a neutral rating to a buy rating and raised their target price for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Morgan Stanley reduced their target price on Steel Dynamics from $138.00 to $131.00 and set an equal weight rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. dropped their price target on Steel Dynamics from $131.00 to $129.00 and set a neutral rating for the company in a research note on Wednesday, October 9th. Finally, Bank of America raised Steel Dynamics from a neutral rating to a buy rating and lifted their price objective for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Steel Dynamics currently has a consensus rating of Hold and an average price target of $142.86.

Steel Dynamics Trading Up 1.1 %

Shares of STLD stock opened at $129.86 on Thursday. The stock has a fifty day simple moving average of $119.64 and a two-hundred day simple moving average of $127.80. Steel Dynamics has a 52-week low of $98.25 and a 52-week high of $151.34. The firm has a market capitalization of $20.04 billion, a PE ratio of 10.41 and a beta of 1.31. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the previous year, the firm earned $4.81 EPS. The firm’s revenue was down 8.8% compared to the same quarter last year. On average, analysts predict that Steel Dynamics will post 10.15 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Monday, September 30th. Steel Dynamics’s dividend payout ratio is currently 14.76%.

Institutional Trading of Steel Dynamics

A number of institutional investors have recently bought and sold shares of STLD. National Bank of Canada FI increased its position in Steel Dynamics by 481.2% during the second quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock valued at $42,461,000 after acquiring an additional 272,226 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Steel Dynamics by 65.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock worth $74,064,000 after purchasing an additional 225,832 shares during the last quarter. Swedbank AB purchased a new position in Steel Dynamics in the 1st quarter worth about $32,178,000. Acadian Asset Management LLC lifted its holdings in Steel Dynamics by 21.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock valued at $168,550,000 after buying an additional 202,312 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Steel Dynamics in the 2nd quarter valued at about $24,670,000. 82.41% of the stock is currently owned by institutional investors.

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.