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

Steel Dynamics, Inc. (NASDAQ:STLD) has earned an average recommendation of “Moderate Buy” from the twelve research firms that are currently covering the firm, Marketbeat Ratings 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 target price among brokers that have updated their coverage on the stock in the last year is $257.45.

Several analysts recently commented on STLD shares. KeyCorp restated an “overweight” rating on shares of Steel Dynamics in a research report on Wednesday, July 22nd. Weiss Ratings cut shares of Steel Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a research report on Wednesday, July 29th. They issued a “buy” rating and a $300.00 price objective for the company. Wall Street Zen downgraded shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 20th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Steel Dynamics from $272.00 to $260.00 and set a “neutral” rating on the stock in a research note on Friday, October 9th.

Institutional Investors Weigh In On Steel Dynamics

Hedge funds and other institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC raised its holdings in shares of Steel Dynamics by 11.4% in the third quarter. V Square Quantitative Management LLC now owns 4,661 shares of the basic materials company’s stock valued at $1,033,000 after buying an additional 478 shares during the last quarter. Wealth Enhancement Trust Services Inc. grew its holdings in shares of Steel Dynamics by 1,200.0% during the third quarter. Wealth Enhancement Trust Services Inc. now owns 117 shares of the basic materials company’s stock worth $26,000 after buying an additional 108 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Steel Dynamics by 24.5% during the second quarter. QRG Capital Management Inc. now owns 8,421 shares of the basic materials company’s stock worth $1,932,000 after buying an additional 1,659 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Steel Dynamics by 0.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 267,193 shares of the basic materials company’s stock valued at $61,310,000 after acquiring an additional 2,095 shares during the period. Finally, Tidal Investments LLC raised its stake in Steel Dynamics by 15.6% during the 2nd quarter. Tidal Investments LLC now owns 27,467 shares of the basic materials company’s stock valued at $6,303,000 after acquiring an additional 3,709 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Stock Down 0.1%

Steel Dynamics stock opened at $240.54 on Tuesday. Steel Dynamics has a 52 week low of $141.45 and a 52 week high of $288.74. The firm has a market cap of $34.48 billion, a price-to-earnings ratio of 21.81, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48. The business’s 50-day moving average price is $238.98 and its 200 day moving average price is $236.19. 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 (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, topping the consensus estimate of $3.63 by $0.06. The business had revenue of $6.09 billion for the quarter, compared to analyst estimates of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.01 EPS. As a group, sell-side analysts anticipate that Steel Dynamics will post 18.13 earnings per share for the current year.

Steel Dynamics Dividend Announcement

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

About Steel Dynamics

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.