Steel Dynamics (NASDAQ:STLD) Price Target Raised to $255.00 at Citigroup

Steel Dynamics (NASDAQ:STLD) had its price objective boosted by Citigroup from $180.00 to $255.00 in a research report released on Wednesday,Benzinga reports. Citigroup currently has a buy rating on the basic materials company’s stock.

STLD has been the subject of several other research reports. JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Wall Street Zen upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Morgan Stanley restated an “underperform” rating and issued a $190.00 target price on shares of Steel Dynamics in a report on Tuesday, March 17th. BMO Capital Markets raised their target price on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Weiss Ratings restated 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 issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $210.33.

Steel Dynamics Price Performance

STLD stock opened at $227.46 on Wednesday. Steel Dynamics has a 52 week low of $119.50 and a 52 week high of $228.19. The company has a quick ratio of 1.29, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $186.64 and a two-hundred day simple moving average of $173.56. The firm has a market capitalization of $32.92 billion, a P/E ratio of 24.33, a price-to-earnings-growth ratio of 0.59 and a beta of 1.39.

Steel Dynamics (NASDAQ:STLD) last released its 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). The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.Steel Dynamics’s revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.44 EPS. Analysts anticipate 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. Investors of record on Tuesday, March 31st were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Tuesday, March 31st. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s dividend payout ratio (DPR) is 22.67%.

Institutional Investors Weigh In On Steel Dynamics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STLD. NewEdge Advisors LLC lifted its holdings in Steel Dynamics by 307.5% during the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $102,000 after buying an additional 618 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Steel Dynamics by 82.7% during the 1st quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock valued at $435,000 after buying an additional 1,578 shares in the last quarter. Jump Financial LLC bought a new stake in Steel Dynamics during the 2nd quarter valued at about $1,019,000. Qube Research & Technologies Ltd bought a new stake in Steel Dynamics during the 2nd quarter valued at about $48,746,000. Finally, Sei Investments Co. lifted its holdings in Steel Dynamics by 7.9% during the 2nd quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company’s stock valued at $13,447,000 after buying an additional 7,712 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Key Steel Dynamics News

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.