Analysts Set Steel Dynamics, Inc. (NASDAQ:STLD) PT at $224.64

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $224.6364.

Several equities research analysts recently commented on the stock. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. BMO Capital Markets upped their price target 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. Wells Fargo & Company upped their price target on shares of Steel Dynamics from $235.00 to $293.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Morgan Stanley restated an “underperform” rating and issued a $190.00 price target on shares of Steel Dynamics in a research report on Tuesday, March 17th. Finally, Weiss Ratings upgraded shares of Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, April 29th.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $282.76 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The company has a market cap of $40.92 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 0.56 and a beta of 1.50. Steel Dynamics has a 52 week low of $119.89 and a 52 week high of $285.88. The firm has a 50 day simple moving average of $230.74 and a 200 day simple moving average of $196.94.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 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 analysts’ expectations of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The firm’s revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.44 EPS. As a group, research analysts expect that Steel Dynamics will post 15.85 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be given a $0.53 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.7%. Steel Dynamics’s dividend payout ratio is presently 22.67%.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were 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 owned 102,837 shares in the company, valued at $27,632,301.90. This represents a 8.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president owned 28,618 shares of the company’s stock, valued at approximately $6,699,759.98. The trade was a 7.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 22,125 shares of company stock worth $5,438,227 in the last quarter. 6.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Steel Dynamics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital Research Global Investors lifted its position in Steel Dynamics by 0.3% in the 4th quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company’s stock worth $613,926,000 after buying an additional 9,959 shares in the last quarter. Life Cycle Investment Partners Ltd purchased a new stake in Steel Dynamics in the 4th quarter worth approximately $586,702,000. Norges Bank purchased a new stake in Steel Dynamics in the 4th quarter worth approximately $564,590,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Steel Dynamics by 3.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock valued at $340,289,000 after purchasing an additional 72,122 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Steel Dynamics by 6.3% during the 4th quarter. Invesco Ltd. now owns 1,965,092 shares of the basic materials company’s stock valued at $332,985,000 after purchasing an additional 116,379 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

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.