Steel Dynamics, Inc. (NASDAQ:STLD) Receives $133.86 Consensus PT from Brokerages

Steel Dynamics, Inc. (NASDAQ:STLD) has been given an average recommendation of “Hold” by the seven brokerages that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $133.86.

A number of research analysts have recently issued reports on STLD shares. Bank of America dropped their price objective on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. BMO Capital Markets lowered their price objective on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research note on Tuesday, June 18th. Jefferies Financial Group initiated coverage on shares of Steel Dynamics in a report on Monday, May 20th. They set a “hold” rating and a $150.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Tuesday, July 16th.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total value of $2,873,010.00. Following the completion of the transaction, the senior vice president now owns 60,415 shares of the company’s stock, valued at approximately $8,265,376.15. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Steel Dynamics

Several institutional investors and hedge funds have recently made changes to their positions in the business. Larson Financial Group LLC bought a new stake in shares of Steel Dynamics in the 1st quarter worth approximately $25,000. LifeSteps Financial Inc. purchased a new stake in Steel Dynamics during the 1st quarter valued at $26,000. Turtle Creek Wealth Advisors LLC bought a new stake in Steel Dynamics in the 4th quarter worth about $29,000. Lindbrook Capital LLC lifted its holdings in shares of Steel Dynamics by 117.5% during the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after buying an additional 134 shares during the period. Finally, Security National Bank purchased a new stake in shares of Steel Dynamics during the 4th quarter valued at about $30,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD opened at $119.43 on Friday. The firm has a market cap of $18.77 billion, a PE ratio of 8.20 and a beta of 1.35. The company’s 50 day moving average price is $126.21 and its two-hundred day moving average price is $130.70. Steel Dynamics has a 12-month low of $95.53 and a 12-month high of $151.34. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.05. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The firm’s revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.81 EPS. Equities research analysts predict that Steel Dynamics will post 11.35 earnings per share for the current year.

Steel Dynamics Company Profile

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.