Steel Dynamics, Inc. (NASDAQ:STLD) Given Consensus Recommendation of “Hold” by Analysts

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Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have been given a consensus rating of “Hold” by the fourteen brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $33.78.

Several research analysts have recently issued reports on the company. BidaskClub lowered Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Saturday. Bank of America reduced their price objective on Steel Dynamics from $34.00 to $30.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. JPMorgan Chase & Co. set a $35.00 price objective on Steel Dynamics and gave the company a “buy” rating in a research report on Monday, September 23rd. Macquarie set a $31.00 price objective on Steel Dynamics and gave the company a “hold” rating in a research report on Wednesday, September 18th. Finally, BMO Capital Markets lowered Steel Dynamics to a “hold” rating and set a $30.00 price objective for the company. in a research report on Friday, September 13th.

In related news, SVP Miguel Alvarez acquired 8,920 shares of Steel Dynamics stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $27.72 per share, with a total value of $247,262.40. Following the transaction, the senior vice president now directly owns 700 shares in the company, valued at $19,404. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.90% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Prudential Financial Inc. boosted its stake in Steel Dynamics by 3.7% during the 2nd quarter. Prudential Financial Inc. now owns 3,645,364 shares of the basic materials company’s stock valued at $110,090,000 after purchasing an additional 130,146 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in Steel Dynamics by 12.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 2,756,651 shares of the basic materials company’s stock valued at $83,251,000 after purchasing an additional 298,494 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Steel Dynamics by 5.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,460,819 shares of the basic materials company’s stock valued at $74,317,000 after purchasing an additional 126,880 shares during the last quarter. Eaton Vance Management boosted its stake in Steel Dynamics by 466.8% during the 2nd quarter. Eaton Vance Management now owns 1,940,465 shares of the basic materials company’s stock valued at $58,602,000 after purchasing an additional 1,598,122 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Steel Dynamics by 463.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,891,700 shares of the basic materials company’s stock valued at $57,129,000 after purchasing an additional 1,555,900 shares during the last quarter. Institutional investors and hedge funds own 80.04% of the company’s stock.

Shares of NASDAQ:STLD opened at $28.71 on Monday. Steel Dynamics has a 52-week low of $25.02 and a 52-week high of $42.00. The firm has a market capitalization of $6.31 billion, a P/E ratio of 5.23, a P/E/G ratio of 0.78 and a beta of 1.66. The stock has a 50 day moving average price of $29.20 and a 200-day moving average price of $29.91. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.40 and a current ratio of 4.00.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 16th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.01). Steel Dynamics had a return on equity of 22.08% and a net margin of 7.44%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.62 billion. During the same period in the prior year, the company posted $1.69 EPS. On average, equities analysts forecast that Steel Dynamics will post 3.05 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Friday, September 27th. Steel Dynamics’s dividend payout ratio (DPR) is presently 17.49%.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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