Steel Dynamics, Inc. (NASDAQ:STLD) Stock Has Consensus Target Price of $257.45

Steel Dynamics, Inc. (NASDAQ:STLD) has been given a consensus rating of “Moderate Buy” by the twelve ratings firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $257.45.

Several research analysts have recently commented on the stock. Weiss Ratings lowered shares of Steel Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Barclays raised their target price on Steel Dynamics from $270.00 to $272.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Wall Street Zen lowered shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Sunday, September 20th. UBS Group lifted their price target on Steel Dynamics from $165.00 to $276.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Finally, The Goldman Sachs Group initiated coverage on Steel Dynamics in a research report on Wednesday, July 29th. They issued a “buy” rating and a $300.00 target price on the stock.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $240.76 on Tuesday. The firm has a market capitalization of $34.51 billion, a P/E ratio of 21.83, a P/E/G ratio of 0.35 and a beta of 1.48. The company has a quick ratio of 1.45, a current ratio of 3.18 and a debt-to-equity ratio of 0.45. Steel Dynamics has a 52 week low of $140.87 and a 52 week high of $288.74. The firm’s 50 day moving average is $239.42 and its two-hundred day moving average is $236.16.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%. The firm had revenue of $6.09 billion for the quarter, compared to analyst estimates of $5.56 billion. During the same quarter last year, the company posted $2.01 earnings per share. The business’s revenue was up 33.4% on a year-over-year basis. Research analysts forecast that Steel Dynamics will post 18.13 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Wednesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 19.22%.

Institutional Trading of Steel Dynamics

A number of institutional investors have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in Steel Dynamics during the second quarter valued at approximately $26,000. Wealth Enhancement Trust Services Inc. lifted its position in shares of Steel Dynamics by 1,200.0% during the 3rd quarter. Wealth Enhancement Trust Services Inc. now owns 117 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 108 shares during the last quarter. MV Capital Management Inc. acquired a new stake in shares of Steel Dynamics in the fourth quarter worth $27,000. Cedar Mountain Advisors LLC acquired a new position in shares of Steel Dynamics during the first quarter valued at about $31,000. Finally, NBH Bank bought a new position in Steel Dynamics during the second quarter valued at about $31,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a steel producer and metals recycler headquartered in Fort Wayne, Indiana. Founded in 1993, the company operates electric arc furnace steel mills that use recycled ferrous scrap and other raw materials to manufacture steel products for customers in construction, automotive, manufacturing, energy and other industrial markets.

Its steel operations produce flat-roll steel, long products, structural steel and rail products, along with specialized steel products such as galvanized, painted and other value-added coated materials.