Steel Dynamics, Inc. (NASDAQ:STLD) Given Average Rating of “Moderate Buy” by Brokerages

Steel Dynamics, Inc. (NASDAQ:STLD) has earned a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $176.8889.

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. upped their price target on Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Morgan Stanley upped their target price on shares of Steel Dynamics from $145.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. The Goldman Sachs Group set a $172.00 price target on shares of Steel Dynamics and gave the stock a “neutral” rating in a research note on Friday, October 31st. KeyCorp boosted their price objective on shares of Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Finally, BMO Capital Markets boosted their target price on shares of Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the sale, the senior vice president directly owned 117,068 shares of the company’s stock, valued at $19,057,499.72. This trade represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.30% of the company’s stock.

Institutional Trading of Steel Dynamics

Several institutional investors have recently made changes to their positions in the business. Allworth Financial LP lifted its position in Steel Dynamics by 119.3% in the second quarter. Allworth Financial LP now owns 11,012 shares of the basic materials company’s stock worth $1,410,000 after buying an additional 5,991 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in Steel Dynamics by 21.9% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 88,558 shares of the basic materials company’s stock valued at $11,336,000 after acquiring an additional 15,931 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in shares of Steel Dynamics by 477.1% during the 2nd quarter. Edgestream Partners L.P. now owns 32,427 shares of the basic materials company’s stock valued at $4,151,000 after purchasing an additional 26,808 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Steel Dynamics by 1.2% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 163,399 shares of the basic materials company’s stock worth $20,917,000 after purchasing an additional 1,954 shares in the last quarter. Finally, Korea Investment CORP grew its stake in Steel Dynamics by 17.7% during the 2nd quarter. Korea Investment CORP now owns 133,975 shares of the basic materials company’s stock worth $17,150,000 after buying an additional 20,135 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

STLD stock opened at $169.13 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.47 and a current ratio of 3.11. The firm has a 50 day moving average price of $157.55 and a 200-day moving average price of $140.95. Steel Dynamics has a 52-week low of $103.17 and a 52-week high of $174.31. The firm has a market capitalization of $24.70 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 1.23 and a beta of 1.47.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. The company had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the company earned $2.05 EPS. Equities research analysts forecast that Steel Dynamics will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 annualized dividend and a yield of 1.2%. Steel Dynamics’s dividend payout ratio is currently 26.49%.

About Steel Dynamics

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.