Steel Dynamics (NASDAQ:STLD) Given New $241.00 Price Target at KeyCorp

Steel Dynamics (NASDAQ:STLD) had its target price raised by KeyCorp from $190.00 to $241.00 in a research note released on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the basic materials company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Morgan Stanley restated an “underperform” rating and issued a $190.00 price objective on shares of Steel Dynamics in a research report on Tuesday, March 17th. Wells Fargo & Company raised their price objective on shares of Steel Dynamics from $196.00 to $207.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Wall Street Zen upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics has an average rating of “Hold” and an average target price of $210.33.

Steel Dynamics Trading Up 3.3%

Shares of STLD stock opened at $227.46 on Wednesday. Steel Dynamics has a 12-month low of $119.50 and a 12-month high of $228.19. The company has a market capitalization of $32.92 billion, a P/E ratio of 24.33, a P/E/G ratio of 0.59 and a beta of 1.39. The firm has a 50-day moving average price of $186.64 and a 200 day moving average price of $173.56. The company has a quick ratio of 1.29, a current ratio of 3.13 and a debt-to-equity ratio of 0.46.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, April 22nd. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the prior year, the business earned $1.44 earnings per share. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. Research analysts forecast that Steel Dynamics will post 14.04 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.53 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s dividend payout ratio is presently 22.67%.

Institutional Investors Weigh In On Steel Dynamics

Several institutional investors have recently modified their holdings of the business. Jacobi Capital Management LLC grew its position in shares of Steel Dynamics by 1.6% during the 4th quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock worth $599,000 after buying an additional 55 shares during the period. Optas LLC grew its position in shares of Steel Dynamics by 3.0% during the 4th quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock worth $335,000 after buying an additional 58 shares during the period. Hohimer Wealth Management LLC grew its position in shares of Steel Dynamics by 1.1% during the 4th quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock worth $967,000 after buying an additional 61 shares during the period. Versant Capital Management Inc grew its position in shares of Steel Dynamics by 13.2% during the 3rd quarter. Versant Capital Management Inc now owns 548 shares of the basic materials company’s stock worth $76,000 after buying an additional 64 shares during the period. Finally, Wright Investors Service Inc. grew its position in shares of Steel Dynamics by 1.2% during the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock worth $941,000 after buying an additional 64 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics News Roundup

Here are the key news stories impacting Steel Dynamics this week:

• Positive Sentiment: Multiple brokerages raised price targets and ratings on STLD this morning — Citi raised its target to $255 and kept a Buy rating. Benzinga
• Positive Sentiment: BMO Capital Markets bumped its target to $240 and upgraded to Outperform, and KeyCorp raised its target to $241 (Overweight), reflecting confidence in demand/pricing. Benzinga
• Positive Sentiment: Wells Fargo lifted its target to $235 and maintained an Overweight view — analyst upgrades are the primary near-term catalyst supporting the stock. Benzinga
• Positive Sentiment: News and analyst commentary highlight stronger steel prices and robust demand; Reuters notes quarterly profit rose on higher prices and strong demand, supporting margin outlook. Reuters: Quarterly profit rises
• Neutral Sentiment: Full Q1 earnings call transcript and presentation are available for details on segment performance and management commentary (useful for digging into drivers). Earnings call transcript
• Neutral Sentiment: Seeking Alpha posted the full earnings call transcript and the company’s investor presentation for Q1 results. Seeking Alpha transcript
• Negative Sentiment: Q1 EPS missed consensus by a penny and some reports flagged revenue/earnings nuances and a weaker cash position — small near-term downside risk as investors parse margins and cash flow. Zacks: Q1 earnings miss
• Negative Sentiment: Analysts and coverage noted an operational drag from aluminum and some segment-level issues called out on the call, which could cap upside until trends normalize. TipRanks: Earnings call highlights

Steel Dynamics Company Profile

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.