Posted by admin on Apr 22nd, 2022
Steel Dynamics (NASDAQ:STLD – Get Rating) had its target price lifted by analysts at The Goldman Sachs Group from $100.00 to $114.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 19.69% from the company’s current price.
Several other equities analysts also recently weighed in on the company. BMO Capital Markets lifted their target price on Steel Dynamics from $95.00 to $104.00 in a research report on Friday. StockNews.com initiated coverage on Steel Dynamics in a research report on Thursday, March 31st. They issued a “buy” rating for the company. Wolfe Research downgraded Steel Dynamics from a “peer perform” rating to an “underperform” rating and set a $60.00 target price for the company. in a research report on Tuesday, January 11th. Zacks Investment Research raised Steel Dynamics from a “hold” rating to a “strong-buy” rating and set a $98.00 target price for the company in a research report on Monday, April 4th. Finally, JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $95.00 to $117.00 and gave the company an “overweight” rating in a research report on Thursday, March 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $91.00.
Shares of NASDAQ:STLD traded up $2.01 during midday trading on Friday, reaching $95.25. 28,086 shares of the company’s stock were exchanged, compared to its average volume of 2,395,916. The firm’s 50 day simple moving average is $77.54 and its two-hundred day simple moving average is $67.17. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.10 and a quick ratio of 1.51. The stock has a market cap of $18.05 billion, a price-to-earnings ratio of 6.07 and a beta of 1.40. Steel Dynamics has a fifty-two week low of $49.56 and a fifty-two week high of $100.37.
Steel Dynamics (NASDAQ:STLD – Get Rating) last issued its quarterly earnings data on Wednesday, April 20th. The basic materials company reported $6.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.59 by $0.43. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.35 billion. Steel Dynamics had a return on equity of 63.43% and a net margin of 17.46%. The company’s quarterly revenue was up 57.1% on a year-over-year basis. During the same period last year, the company earned $2.10 EPS. Equities research analysts predict that Steel Dynamics will post 15.11 earnings per share for the current fiscal year.
Steel Dynamics announced that its board has authorized a stock repurchase program on Monday, February 28th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the basic materials company to reacquire up to 8.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In related news, SVP Christopher A. Graham sold 4,425 shares of the business’s stock in a transaction that occurred on Thursday, March 3rd. The stock was sold at an average price of $76.51, for a total transaction of $338,556.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.40% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Paragon Capital Management Ltd lifted its stake in Steel Dynamics by 3.6% in the first quarter. Paragon Capital Management Ltd now owns 3,932 shares of the basic materials company’s stock valued at $328,000 after buying an additional 138 shares during the last quarter. First National Bank of South Miami increased its holdings in shares of Steel Dynamics by 5.1% in the fourth quarter. First National Bank of South Miami now owns 3,459 shares of the basic materials company’s stock valued at $215,000 after purchasing an additional 168 shares during the period. Meitav Dash Investments Ltd. increased its holdings in shares of Steel Dynamics by 1.5% in the third quarter. Meitav Dash Investments Ltd. now owns 11,500 shares of the basic materials company’s stock valued at $684,000 after purchasing an additional 170 shares during the period. Greenleaf Trust increased its holdings in shares of Steel Dynamics by 1.7% in the third quarter. Greenleaf Trust now owns 10,314 shares of the basic materials company’s stock valued at $603,000 after purchasing an additional 171 shares during the period. Finally, Eagle Asset Management Inc. increased its holdings in shares of Steel Dynamics by 0.5% in the fourth quarter. Eagle Asset Management Inc. now owns 37,183 shares of the basic materials company’s stock valued at $2,300,000 after purchasing an additional 175 shares during the period. Institutional investors own 79.32% of the company’s stock.
Steel Dynamics Company Profile (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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