Posted by admin on Jun 22nd, 2022
Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) has been assigned a consensus rating of “Hold” from the ten analysts that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $87.00.
A number of research analysts have recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Steel Dynamics from $95.00 to $104.00 in a research report on Friday, April 22nd. StockNews.com assumed coverage on shares of Steel Dynamics in a research report on Thursday, March 31st. They set a “buy” rating on the stock. JPMorgan Chase & Co. dropped their target price on shares of Steel Dynamics from $129.00 to $110.00 in a research report on Tuesday, June 14th. UBS Group set a $95.00 target price on shares of Steel Dynamics in a research report on Monday. Finally, The Goldman Sachs Group downgraded shares of Steel Dynamics from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $114.00 to $92.00 in a research report on Tuesday, May 31st.
NASDAQ:STLD opened at $70.73 on Wednesday. Steel Dynamics has a one year low of $50.54 and a one year high of $100.37. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.74 and a current ratio of 3.42. The firm has a market cap of $13.35 billion, a P/E ratio of 3.65 and a beta of 1.30. The firm has a 50-day simple moving average of $81.48 and a 200-day simple moving average of $72.46.
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 $5.58 by $0.44. Steel Dynamics had a net margin of 19.02% and a return on equity of 69.88%. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the firm earned $2.10 EPS. The company’s quarterly revenue was up 57.1% compared to the same quarter last year. On average, research analysts predict that Steel Dynamics will post 19.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Wednesday, June 29th. Steel Dynamics’s dividend payout ratio is currently 7.02%.
Steel Dynamics declared that its board has initiated a stock repurchase plan on Monday, February 28th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the basic materials company to repurchase up to 8.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other Steel Dynamics news, Director Keith E. Busse sold 5,040 shares of the company’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $83.51, for a total transaction of $420,890.40. Following the completion of the transaction, the director now directly owns 724,034 shares in the company, valued at $60,464,079.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.40% of the company’s stock.
A number of large investors have recently bought and sold shares of STLD. Norges Bank acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at about $199,835,000. First Trust Advisors LP raised its position in shares of Steel Dynamics by 183.6% in the first quarter. First Trust Advisors LP now owns 1,380,388 shares of the basic materials company’s stock valued at $115,166,000 after buying an additional 893,705 shares during the last quarter. BlackRock Inc. raised its position in shares of Steel Dynamics by 3.2% in the first quarter. BlackRock Inc. now owns 25,820,456 shares of the basic materials company’s stock valued at $2,154,201,000 after buying an additional 801,335 shares during the last quarter. State Street Corp raised its position in shares of Steel Dynamics by 9.5% in the first quarter. State Street Corp now owns 9,207,455 shares of the basic materials company’s stock valued at $771,198,000 after buying an additional 800,656 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at about $43,651,000. Institutional investors own 83.19% 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.
Receive News & Ratings for Steel Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.
Fidelity Metaverse ETF (NYSEARCA:FMET) Trading 2.1% Higher
HOYA (OTCMKTS:HOCPY) Stock Passes Below Fifty Day Moving Average of $99.74