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

Steel Dynamics, Inc. (NASDAQ:STLD) has been given a consensus rating of “Hold” by the seven brokerages that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $125.29.

A number of analysts recently issued reports on the company. Citigroup boosted their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Jefferies Financial Group assumed coverage on Steel Dynamics in a report on Monday, May 20th. They issued a “hold” rating and a $150.00 price target for the company. BMO Capital Markets boosted their price target on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Monday, March 18th. Finally, JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th.

Insider Transactions at Steel Dynamics

In other news, SVP Christopher A. Graham sold 21,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the transaction, the senior vice president now directly owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Steel Dynamics

Large investors have recently made changes to their positions in the business. Larson Financial Group LLC acquired a new position in shares of Steel Dynamics in the 1st quarter valued at $25,000. LifeSteps Financial Inc. acquired a new position in shares of Steel Dynamics in the 1st quarter valued at $26,000. CVA Family Office LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $29,000. Finally, Lindbrook Capital LLC increased its position in shares of Steel Dynamics by 117.5% in the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 134 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Down 0.2 %

Shares of NASDAQ:STLD opened at $133.34 on Tuesday. Steel Dynamics has a 1 year low of $90.55 and a 1 year high of $151.34. The business has a 50 day simple moving average of $138.76 and a two-hundred day simple moving average of $126.30. The firm has a market capitalization of $20.95 billion, a PE ratio of 9.16 and a beta of 1.47. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.54 by $0.13. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. Steel Dynamics’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.01 earnings per share. On average, equities analysts predict that Steel Dynamics will post 12.44 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, June 28th. This represents a $1.84 dividend on an annualized basis and a yield of 1.38%. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.