Steel Dynamics, Inc. (NASDAQ:STLD) Receives $236.36 Consensus Price Target from Analysts

Steel Dynamics, Inc. (NASDAQ:STLD) has received an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $234.5455.

STLD has been the subject of several recent research reports. KeyCorp boosted their target price on shares of Steel Dynamics from $241.00 to $262.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Morgan Stanley boosted their price objective on shares of Steel Dynamics from $227.00 to $270.00 and gave the company an “equal weight” rating in a research report on Monday, June 22nd. JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Weiss Ratings raised Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Finally, BMO Capital Markets lifted their target price on Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd.

Insider Activity

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the sale, the senior vice president directly owned 102,837 shares of the company’s stock, valued at $27,632,301.90. This trade represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $1,124,350.00. Following the completion of 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 SEC filing for this sale provides additional information. Insiders have sold 22,125 shares of company stock valued at $5,438,226 over the last 90 days. Company insiders own 6.60% of the company’s stock.

Institutional Investors Weigh In On Steel Dynamics

A number of institutional investors and hedge funds have recently modified their holdings of the business. Prosperity Bancshares Inc bought a new position in shares of Steel Dynamics in the 4th quarter worth $25,000. MV Capital Management Inc. purchased a new stake in shares of Steel Dynamics during the fourth quarter valued at $27,000. Sound Income Strategies LLC boosted its position in Steel Dynamics by 1,500.0% in the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after buying an additional 150 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new stake in shares of Steel Dynamics in the first quarter worth $31,000. Finally, DV Equities LLC purchased a new position in shares of Steel Dynamics during the 4th quarter valued at about $33,000. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Trading Up 2.9%

NASDAQ STLD traded up $6.36 during trading on Friday, hitting $228.42. 1,143,815 shares of the company’s stock traded hands, compared to its average volume of 1,304,821. Steel Dynamics has a 12-month low of $119.89 and a 12-month high of $288.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. The stock has a fifty day moving average of $246.00 and a two-hundred day moving average of $206.74. The firm has a market cap of $33.06 billion, a P/E ratio of 24.43, a PEG ratio of 0.44 and a beta of 1.53.

Steel Dynamics (NASDAQ:STLD) last issued its 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 return on equity of 15.54% and a net margin of 7.22%.The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the previous year, the firm earned $1.44 earnings per share. The firm’s quarterly revenue was up 19.1% compared to the same quarter last year. As a group, sell-side analysts expect that Steel Dynamics will post 16.73 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.53 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. Steel Dynamics’s dividend payout ratio (DPR) is presently 22.67%.

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.