Brokerages Set Steel Dynamics, Inc. (NASDAQ:STLD) PT at $236.36

Steel Dynamics, Inc. (NASDAQ:STLD) has earned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $236.3636.

STLD has been the subject of several recent research reports. Wall Street Zen raised Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. BMO Capital Markets upped their price objective on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Barclays began coverage on shares of Steel Dynamics in a research report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price target on the stock. Finally, Bank of America cut their price objective on shares of Steel Dynamics from $285.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, June 18th.

Insider Buying and Selling

In related news, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the sale, the senior vice president directly owned 28,618 shares in the company, valued at approximately $6,699,759.98. The trade was a 7.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total value of $1,088,423.50. Following the sale, the senior vice president directly owned 122,257 shares in the company, valued at $27,578,734.06. This trade represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 22,125 shares of company stock valued at $5,438,226. 6.60% of the stock is owned by company insiders.

Institutional Trading of Steel Dynamics

Several institutional investors and hedge funds have recently bought and sold shares of STLD. Prosperity Bancshares Inc purchased a new position in shares of Steel Dynamics during the 4th quarter valued at $25,000. MV Capital Management Inc. purchased a new stake in shares of Steel Dynamics in the fourth quarter worth $27,000. Sound Income Strategies LLC boosted its stake in Steel Dynamics by 1,500.0% during the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after buying an additional 150 shares during the period. Cedar Mountain Advisors LLC purchased a new position in Steel Dynamics during the first quarter worth about $31,000. Finally, DV Equities LLC purchased a new position in Steel Dynamics during the fourth quarter worth about $33,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Trading Up 1.1%

NASDAQ:STLD opened at $229.62 on Friday. Steel Dynamics has a 12 month low of $119.89 and a 12 month high of $288.74. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. The firm’s 50 day moving average is $245.94 and its 200 day moving average is $205.87. The stock has a market capitalization of $33.23 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 0.44 and a beta of 1.53.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The business’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.44 earnings per share. Sell-side analysts expect that Steel Dynamics will post 16.78 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 22.67%.

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.