ValuEngine upgraded shares of Steel Dynamics (NASDAQ:STLD) from a strong sell rating to a sell rating in a research note released on Thursday.
A number of other analysts have also recently issued reports on the company. BMO Capital Markets dropped their price objective on Steel Dynamics from $60.00 to $53.00 and set a buy rating on the stock in a report on Friday, October 19th. Citigroup dropped their price objective on Steel Dynamics from $56.00 to $47.00 and set a buy rating on the stock in a report on Friday, October 19th. Deutsche Bank cut Steel Dynamics to a buy rating in a report on Tuesday, October 2nd. Zacks Investment Research raised Steel Dynamics from a hold rating to a buy rating and set a $52.00 price objective on the stock in a report on Wednesday, September 12th. Finally, Seaport Global Securities began coverage on Steel Dynamics in a report on Thursday, October 11th. They set a buy rating and a $55.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. Steel Dynamics presently has an average rating of Buy and an average price target of $50.42.
Shares of STLD stock traded up $0.09 on Thursday, hitting $33.49. 120,035 shares of the stock were exchanged, compared to its average volume of 2,663,253. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.17 and a current ratio of 3.94. The company has a market capitalization of $7.60 billion, a price-to-earnings ratio of 12.64, a PEG ratio of 0.60 and a beta of 1.36. Steel Dynamics has a one year low of $28.91 and a one year high of $52.10.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 17th. The basic materials company reported $1.69 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.04. The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.14 billion. Steel Dynamics had a return on equity of 31.96% and a net margin of 11.49%. The firm’s quarterly revenue was up 31.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.66 EPS. Equities analysts predict that Steel Dynamics will post 5.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 11th. Shareholders of record on Monday, December 31st will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Friday, December 28th. This represents a $0.75 annualized dividend and a dividend yield of 2.24%. Steel Dynamics’s payout ratio is currently 28.30%.
In other Steel Dynamics news, Director Richard P. Teets, Jr. purchased 20,000 shares of the stock in a transaction on Wednesday, November 28th. The shares were purchased at an average price of $33.85 per share, with a total value of $677,000.00. Following the acquisition, the director now directly owns 5,022,779 shares in the company, valued at approximately $170,021,069.15. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.40% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. grew its position in shares of Steel Dynamics by 7.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 17,472 shares of the basic materials company’s stock worth $803,000 after buying an additional 1,226 shares during the last quarter. William Blair Investment Management LLC grew its position in shares of Steel Dynamics by 6.8% in the 3rd quarter. William Blair Investment Management LLC now owns 20,237 shares of the basic materials company’s stock worth $915,000 after buying an additional 1,281 shares during the last quarter. Comerica Securities Inc. grew its position in shares of Steel Dynamics by 6.0% in the 3rd quarter. Comerica Securities Inc. now owns 23,019 shares of the basic materials company’s stock worth $1,040,000 after buying an additional 1,313 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Steel Dynamics by 2.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 49,729 shares of the basic materials company’s stock worth $2,245,000 after buying an additional 1,341 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its position in shares of Steel Dynamics by 1.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 99,721 shares of the basic materials company’s stock worth $4,506,000 after buying an additional 1,361 shares during the last quarter. 83.84% of the stock is currently owned by hedge funds and other institutional investors.
Steel Dynamics Company Profile
Steel Dynamics, Inc is a diversified carbon-steel steel producer and metals recycler in the U.S. It produces a wide array of steel – beams, bars, steel sheet, and more. It operates through the following segments: Steel Operations, Metals Recycling Operations, Steel Fabrication Operations, and Others.
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