Steel Dynamics, Inc. (NASDAQ:STLD) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $259.0909.

STLD has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $256.00 to $260.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company decreased their price target on shares of Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a research note on Wednesday, July 29th. They issued a “buy” rating and a $300.00 price target for the company. Weiss Ratings raised shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Finally, UBS Group increased their price objective on shares of Steel Dynamics from $165.00 to $276.00 and gave the company a “neutral” rating in a research note on Monday, August 10th.

Insider Activity at Steel Dynamics

In other news, SVP James Stanley Anderson sold 10,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the transaction, the senior vice president owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. This trade represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.60% of the company’s stock.

Institutional Trading of Steel Dynamics

Several institutional investors and hedge funds have recently bought and sold shares of STLD. BlackRock Inc. bought a new position in Steel Dynamics during the 2nd quarter worth approximately $2,844,501,000. Capital Research Global Investors grew its position in shares of Steel Dynamics by 0.3% in the 4th quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company’s stock worth $613,926,000 after acquiring an additional 9,959 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new stake in shares of Steel Dynamics in the 4th quarter valued at approximately $586,702,000. Norges Bank bought a new stake in shares of Steel Dynamics in the 4th quarter valued at approximately $564,590,000. Finally, Invesco Ltd. raised its position in shares of Steel Dynamics by 6.3% during the 4th quarter. Invesco Ltd. now owns 1,965,092 shares of the basic materials company’s stock valued at $332,985,000 after acquiring an additional 116,379 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $228.68 on Monday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18. Steel Dynamics has a 1 year low of $126.23 and a 1 year high of $288.74. The stock’s 50-day simple moving average is $245.06 and its 200-day simple moving average is $222.52. The firm has a market cap of $32.78 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 0.43 and a beta of 1.52.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter in the prior year, the business posted $2.01 earnings per share. Steel Dynamics’s revenue for the quarter was up 33.4% on a year-over-year basis. As a group, equities analysts anticipate that Steel Dynamics will post 17.16 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Wednesday, September 30th. Steel Dynamics’s dividend payout ratio is 19.22%.

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.