Steel Dynamics (STLD) Receives Average Recommendation of “Buy” from Brokerages

Shares of Steel Dynamics (NASDAQ:STLD) have earned a consensus recommendation of “Buy” from the nineteen ratings firms that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $49.54.

A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. BidaskClub raised shares of Steel Dynamics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, April 4th. Credit Suisse Group raised their price target on shares of Steel Dynamics from $43.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Cowen set a $60.00 price target on shares of Steel Dynamics and gave the company a “buy” rating in a research report on Monday, February 5th. Finally, Deutsche Bank raised their price target on shares of Steel Dynamics from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, March 29th.

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Steel Dynamics stock opened at $47.30 on Thursday. Steel Dynamics has a 1-year low of $32.20 and a 1-year high of $50.70. The firm has a market capitalization of $10,628.05, a price-to-earnings ratio of 17.85, a price-to-earnings-growth ratio of 0.87 and a beta of 1.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.29 and a current ratio of 4.04.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Monday, January 22nd. The basic materials company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.05. Steel Dynamics had a net margin of 8.52% and a return on equity of 21.48%. The firm had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.17 billion. equities research analysts predict that Steel Dynamics will post 4.31 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Saturday, March 31st were given a $0.1875 dividend. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Wednesday, March 28th. This represents a $0.75 annualized dividend and a yield of 1.59%. Steel Dynamics’s payout ratio is currently 28.30%.

Hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC bought a new stake in Steel Dynamics in the third quarter worth about $112,000. Cubist Systematic Strategies LLC raised its position in Steel Dynamics by 80.8% in the third quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock worth $123,000 after acquiring an additional 1,589 shares during the period. Cerebellum GP LLC bought a new stake in Steel Dynamics in the fourth quarter worth about $132,000. Amica Retiree Medical Trust bought a new stake in Steel Dynamics in the fourth quarter worth about $143,000. Finally, CoreCommodity Management LLC bought a new stake in Steel Dynamics in the fourth quarter worth about $146,000. 85.44% of the stock is currently owned by institutional investors and hedge funds.

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Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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