Steel Dynamics, Inc. (NASDAQ:STLD) Receives $182.00 Consensus Price Target from Brokerages

Steel Dynamics, Inc. (NASDAQ:STLD) has received a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $182.00.

STLD has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Steel Dynamics from $172.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, December 15th. The Goldman Sachs Group set a $172.00 target price on Steel Dynamics and gave the stock a “neutral” rating in a research report on Friday, October 31st. BMO Capital Markets boosted their price target on Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. KeyCorp restated an “overweight” rating and set a $190.00 price target on shares of Steel Dynamics in a research note on Wednesday, January 7th. Finally, Citigroup raised their price objective on Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th.

Steel Dynamics Stock Up 4.9%

STLD stock opened at $202.39 on Thursday. The company has a 50 day moving average price of $174.83 and a two-hundred day moving average price of $152.75. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06. The stock has a market capitalization of $29.56 billion, a P/E ratio of 25.27, a PEG ratio of 0.55 and a beta of 1.46. Steel Dynamics has a one year low of $103.17 and a one year high of $202.86.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.10. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.62 billion. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The business’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.36 earnings per share. As a group, sell-side analysts expect that Steel Dynamics will post 9.01 EPS for the current year.

Institutional Investors Weigh In On Steel Dynamics

Several institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC lifted its holdings in shares of Steel Dynamics by 307.5% during the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $102,000 after acquiring an additional 618 shares in the last quarter. Acadian Asset Management LLC lifted its stake in shares of Steel Dynamics by 82.7% during the first quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after purchasing an additional 1,578 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Steel Dynamics by 0.7% in the second quarter. Janney Montgomery Scott LLC now owns 23,906 shares of the basic materials company’s stock worth $3,060,000 after buying an additional 175 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Steel Dynamics by 4.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,313 shares of the basic materials company’s stock valued at $2,472,000 after buying an additional 743 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Steel Dynamics in the second quarter valued at about $60,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

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.