Steel Dynamics, Inc. (NASDAQ:STLD) Receives $182.44 Average Price Target from Analysts

Steel Dynamics, Inc. (NASDAQ:STLD) has earned a consensus rating of “Hold” from the ten research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $182.4444.

Several brokerages have recently issued reports on STLD. Morgan Stanley reaffirmed an “underperform” rating and issued a $190.00 target price on shares of Steel Dynamics in a report on Tuesday, March 17th. Wells Fargo & Company cut their price target on Steel Dynamics from $210.00 to $196.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Wall Street Zen downgraded Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. JPMorgan Chase & Co. decreased their price objective on Steel Dynamics from $194.00 to $192.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $170.97 on Friday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06. The company has a market cap of $24.77 billion, a P/E ratio of 21.34, a P/E/G ratio of 0.47 and a beta of 1.43. The firm’s fifty day moving average is $184.61 and its two-hundred day moving average is $166.99. Steel Dynamics has a 52-week low of $103.17 and a 52-week high of $208.47.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.72 by $0.10. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.62 billion. During the same quarter in the previous year, the company earned $1.36 EPS. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. As a group, analysts anticipate that Steel Dynamics will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a yield of 1.2%. Steel Dynamics’s payout ratio is currently 24.97%.

Hedge Funds Weigh In On Steel Dynamics

Institutional investors and hedge funds have recently made changes to their positions in the business. Prosperity Bancshares Inc purchased a new stake in shares of Steel Dynamics during the 4th quarter valued at about $25,000. Cornerstone Planning Group LLC grew its position in Steel Dynamics by 1,636.4% in the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 180 shares in the last quarter. MV Capital Management Inc. purchased a new position in Steel Dynamics in the fourth quarter worth about $27,000. Sound Income Strategies LLC increased its stake in Steel Dynamics by 1,500.0% during the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 150 shares during the last quarter. Finally, DV Equities LLC bought a new stake in Steel Dynamics during the fourth quarter worth approximately $33,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

About Steel Dynamics

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.