Steel Dynamics (NASDAQ:STLD) Price Target Raised to $240.00 at BMO Capital Markets

Steel Dynamics (NASDAQ:STLD) had its price objective raised by BMO Capital Markets from $195.00 to $240.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have an outperform rating on the basic materials company’s stock.

A number of other equities analysts also recently weighed in on STLD. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. KeyCorp boosted their target price on shares of Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a report on Wednesday. Morgan Stanley restated an “underperform” rating and set a $190.00 target price on shares of Steel Dynamics in a report on Tuesday, March 17th. Wall Street Zen upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $210.33.

Steel Dynamics Price Performance

Shares of STLD opened at $227.46 on Wednesday. The company has a market cap of $32.92 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 0.59 and a beta of 1.39. Steel Dynamics has a 1-year low of $119.50 and a 1-year high of $228.19. The company’s fifty day simple moving average is $186.64 and its 200 day simple moving average is $173.56. The company has a current ratio of 3.13, a quick ratio of 1.29 and a debt-to-equity ratio of 0.46.

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

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st were issued a $0.53 dividend. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, March 31st. Steel Dynamics’s dividend payout ratio is presently 22.67%.

Hedge Funds Weigh In On Steel Dynamics

Several institutional investors and hedge funds have recently modified their holdings of STLD. Life Cycle Investment Partners Ltd acquired a new position in shares of Steel Dynamics in the fourth quarter valued at $586,702,000. Norges Bank acquired a new position in shares of Steel Dynamics in the fourth quarter valued at $564,590,000. Boston Partners grew its stake in shares of Steel Dynamics by 147.9% in the fourth quarter. Boston Partners now owns 1,793,630 shares of the basic materials company’s stock valued at $303,970,000 after acquiring an additional 1,070,042 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of Steel Dynamics by 92.4% in the fourth quarter. Hsbc Holdings PLC now owns 1,030,448 shares of the basic materials company’s stock valued at $174,609,000 after acquiring an additional 494,828 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Steel Dynamics in the second quarter valued at about $48,746,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Steel Dynamics

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.