Steel Dynamics, Inc. (NASDAQ:STLD) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have been given a consensus rating of “Moderate Buy” by the twelve research firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $249.00.

Several brokerages have recently weighed in on STLD. Citigroup raised their target price on Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. The Goldman Sachs Group initiated coverage on Steel Dynamics in a report on Wednesday, July 29th. They issued a “buy” rating and a $300.00 price target for the company. Barclays raised their price objective on shares of Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Wells Fargo & Company reduced their price objective on shares of Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Finally, BMO Capital Markets increased their target price on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd.

Insider Buying and Selling at Steel Dynamics

In other news, SVP James Stanley Anderson sold 10,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the sale, the senior vice president directly owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Richard A. Poinsatte sold 2,300 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the sale, the senior vice president directly owned 28,618 shares of the company’s stock, valued at approximately $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 6.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Prosperity Bancshares Inc purchased a new position in shares of Steel Dynamics during the fourth quarter worth approximately $25,000. MV Capital Management Inc. acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $27,000. Sound Income Strategies LLC raised its position in Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 150 shares during the last quarter. Cedar Mountain Advisors LLC purchased a new stake in Steel Dynamics in the 1st quarter valued at $31,000. Finally, DV Equities LLC acquired a new stake in Steel Dynamics during the 4th quarter worth $33,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $258.38 on Thursday. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45. The company has a fifty day simple moving average of $249.01 and a 200-day simple moving average of $214.94. The stock has a market cap of $37.03 billion, a P/E ratio of 23.43, a price-to-earnings-growth ratio of 0.47 and a beta of 1.52. Steel Dynamics has a 12-month low of $119.89 and a 12-month high of $288.74.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.63 by $0.06. The firm had revenue of $6.09 billion for the quarter, compared to analyst estimates of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.Steel Dynamics’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.01 earnings per share. Equities analysts expect that Steel Dynamics will post 17.16 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were given a $0.53 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.8%. Steel Dynamics’s payout ratio is 19.22%.

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.