Brokerages Set Steel Dynamics, Inc. (NASDAQ:STLD) Price Target at $182.00

Steel Dynamics, Inc. (NASDAQ:STLD) has earned an average rating of “Hold” from the eleven ratings firms that are covering the stock, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $182.00.

Several analysts have weighed in on the company. UBS Group set a $165.00 price target on Steel Dynamics in a research note on Tuesday, November 4th. BMO Capital Markets upped their target price on Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. The Goldman Sachs Group set a $172.00 price target on shares of Steel Dynamics and gave the stock a “neutral” rating in a research report on Friday, October 31st. KeyCorp reaffirmed an “overweight” rating and issued a $190.00 price objective on shares of Steel Dynamics in a report on Wednesday, January 7th. Finally, Wells Fargo & Company boosted their target price on shares of Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, December 15th.

Steel Dynamics Stock Down 0.9%

STLD stock traded down $1.53 on Friday, hitting $173.58. 1,022,038 shares of the company’s stock were exchanged, compared to its average volume of 1,109,933. The firm has a 50 day moving average price of $167.46 and a two-hundred day moving average price of $147.52. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.47 and a current ratio of 3.11. Steel Dynamics has a 12-month low of $103.17 and a 12-month high of $178.36. The stock has a market cap of $25.35 billion, a P/E ratio of 22.99, a price-to-earnings-growth ratio of 0.72 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The company’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 earnings per share. As a group, equities research analysts expect that Steel Dynamics will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Steel Dynamics’s payout ratio is 26.49%.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the transaction, the senior vice president owned 117,068 shares in the company, valued at approximately $19,057,499.72. This represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On Steel Dynamics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ninety One UK Ltd grew its position in shares of Steel Dynamics by 33.5% during the third quarter. Ninety One UK Ltd now owns 119,863 shares of the basic materials company’s stock worth $16,712,000 after acquiring an additional 30,102 shares during the last quarter. Allworth Financial LP boosted its stake in Steel Dynamics by 119.3% during the 2nd quarter. Allworth Financial LP now owns 11,012 shares of the basic materials company’s stock worth $1,410,000 after purchasing an additional 5,991 shares during the period. Generali Asset Management SPA SGR purchased a new position in Steel Dynamics during the 3rd quarter worth $1,315,000. Nomura Asset Management Co. Ltd. increased its stake in Steel Dynamics by 21.9% in the second quarter. Nomura Asset Management Co. Ltd. now owns 88,558 shares of the basic materials company’s stock valued at $11,336,000 after purchasing an additional 15,931 shares during the period. Finally, VCI Wealth Management LLC purchased a new stake in shares of Steel Dynamics in the third quarter valued at about $957,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

About Steel Dynamics

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.