Jefferies Group LLC reiterated their buy rating on shares of Steel Dynamics, Inc. (NASDAQ:STLD) in a report issued on Friday, October 6th. They currently have a $43.00 price objective on the basic materials company’s stock.
A number of other analysts have also recently weighed in on STLD. Clarkson Capital reissued a neutral rating on shares of Steel Dynamics in a research report on Thursday, July 20th. Deutsche Bank AG reiterated a buy rating on shares of Steel Dynamics in a research note on Saturday, June 24th. BidaskClub lowered Steel Dynamics from a buy rating to a hold rating in a research note on Tuesday, August 1st. Zacks Investment Research upgraded Steel Dynamics from a sell rating to a hold rating in a report on Wednesday, July 26th. Finally, Longbow Research lowered Steel Dynamics from a buy rating to a neutral rating in a research report on Monday, October 2nd. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $40.63.
Steel Dynamics (STLD) opened at 36.44 on Friday. The firm’s 50-day moving average price is $34.63 and its 200 day moving average price is $34.96. Steel Dynamics has a 52 week low of $23.52 and a 52 week high of $40.17. The firm has a market cap of $8.74 billion, a P/E ratio of 16.74 and a beta of 1.29.
Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 18th. The basic materials company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The firm’s revenue was up 16.3% compared to the same quarter last year. During the same period last year, the business posted $0.64 EPS. Equities analysts forecast that Steel Dynamics will post $2.70 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Stockholders of record on Saturday, September 30th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend was Thursday, September 28th. Steel Dynamics’s dividend payout ratio (DPR) is presently 28.57%.
In other news, Director Keith E. Busse sold 4,965 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the completion of the sale, the director now directly owns 1,005,666 shares of the company’s stock, valued at approximately $38,637,687.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher A. Graham sold 5,021 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total transaction of $191,049.05. Following the completion of the sale, the insider now directly owns 26,778 shares of the company’s stock, valued at $1,018,902.90. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in STLD. BlackRock Inc. raised its holdings in shares of Steel Dynamics by 11,858.1% during the first quarter. BlackRock Inc. now owns 20,091,806 shares of the basic materials company’s stock valued at $698,391,000 after acquiring an additional 19,923,788 shares during the period. Steadfast Capital Management LP purchased a new position in Steel Dynamics during the first quarter valued at approximately $81,408,000. Boston Partners grew its position in Steel Dynamics by 11.9% during the second quarter. Boston Partners now owns 16,383,812 shares of the basic materials company’s stock valued at $586,703,000 after purchasing an additional 1,742,242 shares in the last quarter. State Street Corp grew its position in Steel Dynamics by 17.9% during the second quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock valued at $317,162,000 after purchasing an additional 1,346,487 shares in the last quarter. Finally, Prudential Financial Inc. grew its position in Steel Dynamics by 21.7% during the second quarter. Prudential Financial Inc. now owns 4,079,525 shares of the basic materials company’s stock valued at $146,088,000 after purchasing an additional 727,722 shares in the last quarter. Institutional investors and hedge funds own 82.58% of the company’s stock.
About Steel Dynamics
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
Receive News & Ratings for Steel Dynamics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics Inc. and related companies with our FREE daily email newsletter.