Steel Dynamics, Inc. (NASDAQ:STLD) Given Consensus Recommendation of “Hold” by Analysts

Steel Dynamics, Inc. (NASDAQ:STLD) has received a consensus rating of “Hold” from the fourteen research firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $39.50.

Several research analysts recently weighed in on STLD shares. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $35.50 to $47.00 in a research note on Wednesday, May 8th. ValuEngine cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Citigroup set a $34.00 price target on shares of Steel Dynamics and gave the stock a “buy” rating in a research note on Tuesday, June 11th. BidaskClub cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Credit Suisse Group cut shares of Steel Dynamics from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $38.00 to $29.00 in a research note on Thursday, May 23rd.

In other Steel Dynamics news, Director Gabriel Shaheen bought 5,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were purchased at an average cost of $27.03 per share, for a total transaction of $135,150.00. Following the transaction, the director now owns 58,635 shares of the company’s stock, valued at $1,584,904.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Russell B. Rinn bought 2,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The shares were acquired at an average price of $25.58 per share, for a total transaction of $51,160.00. Following the completion of the transaction, the insider now directly owns 220,459 shares in the company, valued at approximately $5,639,341.22. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 12,740 shares of company stock worth $336,296. Corporate insiders own 4.90% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Empirical Finance LLC grew its holdings in Steel Dynamics by 1.1% during the 2nd quarter. Empirical Finance LLC now owns 32,950 shares of the basic materials company’s stock valued at $995,000 after purchasing an additional 363 shares during the last quarter. Magnus Financial Group LLC lifted its position in Steel Dynamics by 4.5% during the first quarter. Magnus Financial Group LLC now owns 9,299 shares of the basic materials company’s stock valued at $328,000 after acquiring an additional 400 shares during the last quarter. Raymond James Trust N.A. lifted its position in Steel Dynamics by 5.9% during the first quarter. Raymond James Trust N.A. now owns 8,046 shares of the basic materials company’s stock valued at $284,000 after acquiring an additional 449 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in Steel Dynamics by 2.0% during the first quarter. Wedge Capital Management L L P NC now owns 24,062 shares of the basic materials company’s stock valued at $849,000 after acquiring an additional 461 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Steel Dynamics by 4.3% during the first quarter. Assenagon Asset Management S.A. now owns 12,200 shares of the basic materials company’s stock valued at $430,000 after acquiring an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 80.91% of the company’s stock.

Shares of STLD stock traded down $1.13 during mid-day trading on Wednesday, reaching $26.75. 1,900,362 shares of the company’s stock traded hands, compared to its average volume of 2,441,918. Steel Dynamics has a 12 month low of $25.02 and a 12 month high of $48.17. The firm’s 50 day moving average price is $30.29. The company has a quick ratio of 2.40, a current ratio of 4.35 and a debt-to-equity ratio of 0.60. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 4.87, a PEG ratio of 0.74 and a beta of 1.62.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Monday, July 22nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02). The business had revenue of $2.77 billion for the quarter, compared to the consensus estimate of $2.78 billion. Steel Dynamics had a net margin of 9.11% and a return on equity of 28.50%. The company’s revenue was down 10.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.53 EPS. On average, research analysts anticipate that Steel Dynamics will post 3.19 earnings per share for the current year.

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. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

See Also: Cost of Goods Sold (COGS)

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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