Posted by admin on May 3rd, 2022
Shares of Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) have been assigned a consensus recommendation of “Buy” from the ten research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $91.00.
A number of brokerages recently commented on STLD. The Goldman Sachs Group raised their price target on Steel Dynamics from $100.00 to $114.00 and gave the stock a “buy” rating in a research note on Friday, April 22nd. Zacks Investment Research raised Steel Dynamics from a “hold” rating to a “strong-buy” rating and set a $98.00 price objective for the company in a research report on Monday, April 4th. BMO Capital Markets raised their price objective on Steel Dynamics from $95.00 to $104.00 in a research report on Friday, April 22nd. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $95.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, March 24th. Finally, Wolfe Research lowered Steel Dynamics from a “peer perform” rating to an “underperform” rating and set a $60.00 price objective for the company. in a research report on Tuesday, January 11th.
In related news, SVP Christopher A. Graham sold 4,425 shares of Steel Dynamics stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $76.51, for a total value of $338,556.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.40% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC grew its stake in shares of Steel Dynamics by 2.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 192,260 shares of the basic materials company’s stock valued at $16,040,000 after purchasing an additional 3,899 shares during the period. Signaturefd LLC grew its stake in shares of Steel Dynamics by 56.0% during the 1st quarter. Signaturefd LLC now owns 1,618 shares of the basic materials company’s stock valued at $135,000 after purchasing an additional 581 shares during the period. All Season Financial Advisors Inc. purchased a new position in shares of Steel Dynamics during the 1st quarter valued at about $252,000. TriaGen Wealth Management LLC purchased a new position in shares of Steel Dynamics during the 1st quarter valued at about $779,000. Finally, Navellier & Associates Inc. lifted its position in shares of Steel Dynamics by 4.2% during the 1st quarter. Navellier & Associates Inc. now owns 34,612 shares of the basic materials company’s stock valued at $2,888,000 after buying an additional 1,408 shares in the last quarter. Institutional investors and hedge funds own 83.19% of the company’s stock.
Shares of STLD stock opened at $83.63 on Tuesday. The stock has a fifty day moving average of $81.59 and a 200 day moving average of $68.86. Steel Dynamics has a 52 week low of $50.54 and a 52 week high of $100.37. The firm has a market capitalization of $15.85 billion, a price-to-earnings ratio of 4.32 and a beta of 1.40. The company has a quick ratio of 1.74, a current ratio of 3.42 and a debt-to-equity ratio of 0.45.
Steel Dynamics (NASDAQ:STLD – Get Rating) last announced its quarterly earnings results on Wednesday, April 20th. The basic materials company reported $6.02 EPS for the quarter, topping analysts’ consensus estimates of $5.59 by $0.43. Steel Dynamics had a return on equity of 69.88% and a net margin of 19.02%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same quarter last year, the firm posted $2.10 earnings per share. The firm’s revenue was up 57.1% on a year-over-year basis. Equities research analysts anticipate that Steel Dynamics will post 19.07 earnings per share for the current year.
Steel Dynamics announced that its board has approved a stock repurchase program on Monday, February 28th that allows the company to repurchase $1.25 billion in shares. This repurchase authorization allows the basic materials company to purchase up to 8.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Thursday, March 31st were issued a dividend of $0.34 per share. The ex-dividend date was Wednesday, March 30th. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.26. This represents a $1.36 annualized dividend and a dividend yield of 1.63%. Steel Dynamics’s dividend payout ratio (DPR) is presently 7.02%.
About Steel Dynamics (Get Rating)
Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. 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; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.
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