Steel Dynamics, Inc. (NASDAQ:STLD) Receives $214.30 Average Target Price from Analysts

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have received an average rating of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $214.30.

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Citigroup lifted their target price on Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. BMO Capital Markets lifted their target price on Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. KeyCorp lifted their target price on Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Finally, Wells Fargo & Company lifted their target price on Steel Dynamics from $207.00 to $235.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 4,825 shares of Steel Dynamics stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total value of $1,088,423.50. Following the sale, the senior vice president owned 122,257 shares of the company’s stock, valued at $27,578,734.06. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of Steel Dynamics stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the sale, the senior vice president directly owned 28,618 shares in the company, valued at $6,699,759.98. This represents a 7.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 12,125 shares of company stock worth $2,751,227. Corporate insiders own 6.60% of the company’s stock.

Institutional Trading of Steel Dynamics

Several hedge funds and other institutional investors have recently modified their holdings of STLD. Prosperity Bancshares Inc acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at about $25,000. Cornerstone Planning Group LLC raised its stake in shares of Steel Dynamics by 1,636.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 180 shares during the period. MV Capital Management Inc. acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at about $27,000. Sound Income Strategies LLC raised its stake in shares of Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 150 shares during the period. Finally, Cedar Mountain Advisors LLC acquired a new stake in shares of Steel Dynamics in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

STLD stock opened at $228.58 on Friday. The business’s fifty day moving average is $198.72 and its 200-day moving average is $183.14. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. The company has a market cap of $33.08 billion, a P/E ratio of 24.45, a price-to-earnings-growth ratio of 0.49 and a beta of 1.48. Steel Dynamics has a twelve month low of $119.89 and a twelve month high of $243.73.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The business’s revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.44 earnings per share. Equities research analysts forecast that Steel Dynamics will post 14.77 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.53 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.9%. Steel Dynamics’s payout ratio is currently 22.67%.

Steel Dynamics Company Profile

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.