Steel Dynamics (NASDAQ:STLD) Price Target Cut to $125.00 by Analysts at Jefferies Financial Group

Steel Dynamics (NASDAQ:STLD) had its price target reduced by Jefferies Financial Group from $145.00 to $125.00 in a research report sent to investors on Monday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the basic materials company’s stock.

A number of other analysts have also recently issued reports on the stock. UBS Group reiterated a “neutral” rating and issued a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Citigroup reduced their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. BMO Capital Markets increased their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Morgan Stanley reduced their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Finally, BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $141.13.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $116.48 on Monday. The firm has a market cap of $17.73 billion, a price-to-earnings ratio of 10.54 and a beta of 1.36. Steel Dynamics has a 1 year low of $104.60 and a 1 year high of $155.56. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $131.70 and a 200 day simple moving average of $126.66.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the business earned $3.47 EPS. As a group, sell-side analysts predict that Steel Dynamics will post 10.09 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.58%. Steel Dynamics’s payout ratio is 16.65%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the sale, the senior vice president now directly owns 21,101 shares of the company’s stock, valued at $2,927,763.75. This represents a 8.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the transaction, the senior vice president now owns 116,949 shares in the company, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,591 shares of company stock valued at $3,885,938 in the last 90 days. 6.00% of the stock is currently owned by insiders.

Institutional Trading of Steel Dynamics

A number of hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Steel Dynamics during the third quarter valued at approximately $25,000. Private Trust Co. NA boosted its stake in Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after buying an additional 245 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in Steel Dynamics by 33.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after buying an additional 100 shares during the period. HHM Wealth Advisors LLC acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at $52,000. Finally, Brooklyn Investment Group bought a new position in shares of Steel Dynamics during the 3rd quarter worth about $61,000. Institutional investors own 82.41% of the company’s stock.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.