Steel Dynamics (NASDAQ:STLD) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Steel Dynamics (NASDAQ:STLD – Get Rating) in a report released on Tuesday morning, The Fly reports. The brokerage issued an underweight rating and a $82.00 target price on the basic materials company’s stock.

A number of other equities analysts also recently commented on the company. UBS Group decreased their target price on Steel Dynamics from $110.00 to $100.00 in a report on Friday, May 5th. StockNews.com assumed coverage on Steel Dynamics in a report on Thursday, May 18th. They issued a hold rating for the company. BMO Capital Markets increased their price objective on Steel Dynamics from $109.00 to $120.00 and gave the stock a market perform rating in a report on Friday, January 27th. Credit Suisse Group increased their price objective on Steel Dynamics from $106.00 to $115.00 and gave the stock an outperform rating in a report on Friday, April 21st. Finally, The Goldman Sachs Group downgraded Steel Dynamics from a buy rating to a neutral rating and increased their price objective for the stock from $114.00 to $118.00 in a report on Friday, January 27th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $107.63.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $95.84 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.51 and a current ratio of 4.15. The firm has a market cap of $16.20 billion, a PE ratio of 5.10 and a beta of 1.48. The business has a 50 day moving average price of $103.98 and a 200-day moving average price of $108.78. Steel Dynamics has a fifty-two week low of $62.44 and a fifty-two week high of $136.46.

Steel Dynamics (NASDAQ:STLD – Get Rating) last announced its earnings results on Wednesday, April 19th. The basic materials company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.81 by $0.20. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.95 billion. Steel Dynamics had a return on equity of 47.68% and a net margin of 15.73%. The firm’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.02 earnings per share. Equities research analysts predict that Steel Dynamics will post 16.47 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Friday, June 30th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.77%. Steel Dynamics’s dividend payout ratio is currently 9.05%.

Institutional Investors Weigh In On Steel Dynamics

A number of institutional investors have recently modified their holdings of STLD. CENTRAL TRUST Co boosted its position in shares of Steel Dynamics by 569.7% during the first quarter. CENTRAL TRUST Co now owns 221 shares of the basic materials company’s stock valued at $25,000 after buying an additional 188 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in shares of Steel Dynamics by 82.0% during the first quarter. Massmutual Trust Co. FSB ADV now owns 233 shares of the basic materials company’s stock valued at $26,000 after buying an additional 105 shares during the last quarter. Hanseatic Management Services Inc. purchased a new stake in shares of Steel Dynamics during the first quarter valued at $27,000. Wellington Shields & Co. LLC boosted its position in shares of Steel Dynamics by 50.0% during the fourth quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock valued at $29,000 after buying an additional 100 shares during the last quarter. Finally, Financial Management Professionals Inc. boosted its position in shares of Steel Dynamics by 1,953.8% during the first quarter. Financial Management Professionals Inc. now owns 267 shares of the basic materials company’s stock valued at $30,000 after buying an additional 254 shares during the last quarter. 79.54% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Company Profile

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Steel Dynamics, Inc engages in the manufacture of steel products and metal recycling. It operates through the following segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment consists of sheet products including hot roll, cold roll, and coated steel, long products including structural steel beams, pilings, and standard and premium grade rail, and steel finishing services such as turning, polishing, straightening, chamfering, threading, and precision saw-cutting.