Brokerages Set Steel Dynamics, Inc. (NASDAQ:STLD) PT at $182.00

Steel Dynamics, Inc. (NASDAQ:STLD) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $184.2222.

Several equities analysts have issued reports on STLD shares. Jefferies Financial Group boosted their target price on Steel Dynamics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. KeyCorp reissued an “overweight” rating and issued a $190.00 price target on shares of Steel Dynamics in a report on Wednesday, January 7th. Wall Street Zen downgraded Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th.

Hedge Funds Weigh In On Steel Dynamics

Several hedge funds have recently bought and sold shares of STLD. Jacobi Capital Management LLC grew its stake in Steel Dynamics by 1.6% in the 4th quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock worth $599,000 after acquiring an additional 55 shares during the period. Optas LLC boosted its holdings in shares of Steel Dynamics by 3.0% during the fourth quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock worth $335,000 after purchasing an additional 58 shares during the last quarter. Hohimer Wealth Management LLC boosted its holdings in shares of Steel Dynamics by 1.1% during the fourth quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock worth $967,000 after purchasing an additional 61 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Steel Dynamics by 13.2% in the third quarter. Versant Capital Management Inc now owns 548 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 64 shares during the period. Finally, Wright Investors Service Inc. grew its position in shares of Steel Dynamics by 1.2% in the fourth quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock valued at $941,000 after purchasing an additional 64 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Down 4.4%

NASDAQ:STLD opened at $181.61 on Monday. Steel Dynamics has a 1 year low of $103.17 and a 1 year high of $208.47. The stock has a market cap of $26.31 billion, a P/E ratio of 22.67, a P/E/G ratio of 0.51 and a beta of 1.43. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06. The stock has a 50-day simple moving average of $184.10 and a 200-day simple moving average of $162.09.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.10. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same period in the previous year, the business earned $1.36 EPS. The business’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, analysts anticipate that Steel Dynamics will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 31st. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s dividend payout ratio (DPR) is 24.97%.

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.