Steel Dynamics Inc. (NASDAQ:STLD) Receives $27.69 Consensus PT from Analysts
Shares of Steel Dynamics Inc. (NASDAQ:STLD) have been given a consensus recommendation of “Buy” by the twenty-two ratings firms that are currently covering the firm. One analyst has rated the stock with a sell recommendation, three have given a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $27.69.
STLD has been the topic of a number of research analyst reports. Credit Suisse Group AG increased their price target on Steel Dynamics from $27.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, June 8th. BMO Capital Markets reiterated an “outperform” rating and issued a $30.00 target price on shares of Steel Dynamics in a report on Friday, July 22nd. Zacks Investment Research cut Steel Dynamics from a “buy” rating to a “hold” rating in a report on Friday, July 1st. Jefferies Group reiterated a “buy” rating and issued a $31.00 target price (up from $28.00) on shares of Steel Dynamics in a report on Friday, June 10th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $30.00 target price on shares of Steel Dynamics in a report on Thursday, September 22nd.
Steel Dynamics (NASDAQ:STLD) opened at 25.40 on Friday. The firm has a market capitalization of $6.19 billion, a P/E ratio of 518.37 and a beta of 1.70. Steel Dynamics has a one year low of $15.32 and a one year high of $28.01. The company’s 50-day moving average is $24.79 and its 200-day moving average is $24.70.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, July 18th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Steel Dynamics had a return on equity of 10.79% and a net margin of 0.17%. During the same period in the prior year, the business earned $0.22 EPS. Equities analysts forecast that Steel Dynamics will post $2.08 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.56 annualized dividend and a yield of 2.21%. Steel Dynamics’s dividend payout ratio is currently 1,120.00%.
In other Steel Dynamics news, Director Jurgen Dr Kolb sold 1,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $26.50, for a total value of $26,500.00. Following the completion of the transaction, the director now owns 65,014 shares in the company, valued at approximately $1,722,871. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Keith E. Busse sold 13,155 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $27.00, for a total value of $355,185.00. Following the completion of the transaction, the director now owns 1,006,894 shares of the company’s stock, valued at approximately $27,186,138. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. increased its position in shares of Steel Dynamics by 54.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,800 shares of the company’s stock valued at $118,000 after buying an additional 1,700 shares in the last quarter. Acrospire Investment Management LLC increased its stake in shares of Steel Dynamics by 137.5% in the second quarter. Acrospire Investment Management LLC now owns 5,699 shares of the company’s stock worth $140,000 after buying an additional 3,299 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of Steel Dynamics by 1,676.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,843 shares of the company’s stock worth $143,000 after buying an additional 5,514 shares during the period. Loomis Sayles & Co. L P increased its stake in shares of Steel Dynamics by 991.5% in the second quarter. Loomis Sayles & Co. L P now owns 7,029 shares of the company’s stock worth $172,000 after buying an additional 6,385 shares during the period. Finally, North Point Portfolio Managers Corp OH acquired a new stake in shares of Steel Dynamics during the second quarter worth about $203,000. Institutional investors and hedge funds own 82.42% of the company’s stock.
Steel Dynamics Company Profile
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