Posted by admin on Jul 17th, 2022

Shares of Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) have been assigned an average rating of “Hold” from the ten brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $89.00.

A number of equities research analysts have commented on the company. BMO Capital Markets raised their price target on Steel Dynamics from $95.00 to $104.00 in a report on Friday, April 22nd. Morgan Stanley reduced their target price on Steel Dynamics from $94.00 to $78.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 6th. JPMorgan Chase & Co. reduced their target price on Steel Dynamics from $129.00 to $110.00 in a report on Tuesday, June 14th. StockNews.com initiated coverage on Steel Dynamics in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group cut Steel Dynamics from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $114.00 to $92.00 in a research note on Tuesday, May 31st.

NASDAQ:STLD opened at $67.06 on Friday. The company has a quick ratio of 1.74, a current ratio of 3.42 and a debt-to-equity ratio of 0.45. The business’s 50-day simple moving average is $73.80 and its two-hundred day simple moving average is $73.13. The stock has a market cap of $12.65 billion, a PE ratio of 3.46 and a beta of 1.38. Steel Dynamics has a 52 week low of $50.54 and a 52 week high of $100.37.

Steel Dynamics (NASDAQ:STLD – Get Rating) last posted its quarterly earnings results on Wednesday, April 20th. The basic materials company reported $6.02 EPS for the quarter, beating analysts’ consensus estimates of $5.58 by $0.44. The business had revenue of $5.57 billion for the quarter, compared to analysts’ expectations of $5.35 billion. Steel Dynamics had a return on equity of 69.88% and a net margin of 19.02%. The business’s quarterly revenue was up 57.1% on a year-over-year basis. During the same period last year, the firm earned $2.10 earnings per share. As a group, analysts forecast that Steel Dynamics will post 19.22 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Thursday, June 30th were given a dividend of $0.34 per share. The ex-dividend date was Wednesday, June 29th. This represents a $1.36 annualized dividend and a dividend yield of 2.03%. Steel Dynamics’s dividend payout ratio (DPR) is presently 7.02%.

In related news, Director Keith E. Busse sold 5,040 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $83.51, for a total value of $420,890.40. Following the completion of the sale, the director now owns 724,034 shares in the company, valued at $60,464,079.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 5.40% of the company’s stock.

Large investors have recently modified their holdings of the company. AdvisorNet Financial Inc raised its stake in Steel Dynamics by 12.8% in the fourth quarter. AdvisorNet Financial Inc now owns 4,393 shares of the basic materials company’s stock worth $273,000 after buying an additional 500 shares in the last quarter. AE Wealth Management LLC raised its stake in Steel Dynamics by 16.4% in the fourth quarter. AE Wealth Management LLC now owns 24,775 shares of the basic materials company’s stock worth $1,538,000 after buying an additional 3,495 shares in the last quarter. Kestra Advisory Services LLC raised its stake in Steel Dynamics by 5.1% in the fourth quarter. Kestra Advisory Services LLC now owns 4,925 shares of the basic materials company’s stock worth $306,000 after buying an additional 238 shares in the last quarter. Carnegie Capital Asset Management LLC bought a new position in Steel Dynamics in the fourth quarter worth approximately $208,000. Finally, International Assets Investment Management LLC raised its stake in Steel Dynamics by 6.0% in the fourth quarter. International Assets Investment Management LLC now owns 15,938 shares of the basic materials company’s stock worth $74,000 after buying an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.

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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