BidaskClub upgraded shares of Steel Dynamics (NASDAQ:STLD) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.
A number of other brokerages have also weighed in on STLD. Zacks Investment Research lowered shares of Steel Dynamics from a strong-buy rating to a hold rating in a research note on Wednesday, May 16th. Citigroup upped their target price on shares of Steel Dynamics from $54.00 to $55.00 and gave the stock a buy rating in a research note on Tuesday, April 24th. ValuEngine raised shares of Steel Dynamics from a hold rating to a buy rating in a research note on Wednesday, May 9th. UBS Group initiated coverage on shares of Steel Dynamics in a research report on Tuesday, April 17th. They set a neutral rating and a $47.00 price target on the stock. Finally, Morgan Stanley boosted their price target on shares of Steel Dynamics from $46.00 to $50.00 and gave the stock an equal weight rating in a research report on Tuesday, April 17th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $51.00.
Shares of NASDAQ STLD opened at $46.39 on Tuesday. The firm has a market capitalization of $10.67 billion, a P/E ratio of 17.51, a P/E/G ratio of 0.76 and a beta of 1.33. The company has a debt-to-equity ratio of 0.71, a current ratio of 4.24 and a quick ratio of 2.38. Steel Dynamics has a 1-year low of $32.20 and a 1-year high of $52.10.
Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, April 18th. The basic materials company reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.05. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.59 billion. Steel Dynamics had a net margin of 8.59% and a return on equity of 21.60%. The company’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.83 EPS. sell-side analysts expect that Steel Dynamics will post 4.93 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Shareholders of record on Saturday, June 30th will be given a dividend of $0.1875 per share. The ex-dividend date is Thursday, June 28th. This represents a $0.75 annualized dividend and a yield of 1.62%. Steel Dynamics’s dividend payout ratio (DPR) is presently 28.30%.
In other news, Director Jurgen Dr Kolb sold 4,512 shares of the company’s stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $51.02, for a total value of $230,202.24. Following the sale, the director now directly owns 51,693 shares of the company’s stock, valued at approximately $2,637,376.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Theresa E. Wagler sold 17,196 shares of the company’s stock in a transaction dated Thursday, May 31st. The shares were sold at an average price of $49.78, for a total transaction of $856,016.88. Following the completion of the sale, the insider now directly owns 331,381 shares in the company, valued at $16,496,146.18. The disclosure for this sale can be found here. Insiders have sold a total of 25,298 shares of company stock worth $1,266,868 over the last three months. Insiders own 4.40% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Steel Dynamics by 0.8% in the 1st quarter. BlackRock Inc. now owns 21,910,457 shares of the basic materials company’s stock valued at $968,881,000 after purchasing an additional 169,890 shares during the period. Thrivent Financial for Lutherans raised its holdings in shares of Steel Dynamics by 1.5% in the 1st quarter. Thrivent Financial for Lutherans now owns 3,545,475 shares of the basic materials company’s stock valued at $156,781,000 after purchasing an additional 52,369 shares during the period. Northern Trust Corp raised its holdings in shares of Steel Dynamics by 1.1% in the 1st quarter. Northern Trust Corp now owns 2,615,769 shares of the basic materials company’s stock valued at $115,670,000 after purchasing an additional 29,445 shares during the period. Millennium Management LLC raised its holdings in shares of Steel Dynamics by 163.0% in the 4th quarter. Millennium Management LLC now owns 1,935,141 shares of the basic materials company’s stock valued at $83,463,000 after purchasing an additional 1,199,224 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of Steel Dynamics by 5.1% in the 1st quarter. Wells Fargo & Company MN now owns 1,700,582 shares of the basic materials company’s stock valued at $75,199,000 after purchasing an additional 81,896 shares during the period. 82.78% of the stock is currently owned by institutional investors.
About Steel Dynamics
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.
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