Posted by admin on Aug 11th, 2022

Shares of Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) have received an average recommendation of “Hold” from the ten ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $89.00.

A number of equities research analysts have recently commented on the stock. The Goldman Sachs Group cut shares of Steel Dynamics from a “buy” rating to a “neutral” rating and reduced their target price for the company from $114.00 to $92.00 in a research report on Tuesday, May 31st. UBS Group set a $95.00 target price on shares of Steel Dynamics in a research note on Monday, June 20th. BMO Capital Markets upped their price target on Steel Dynamics from $95.00 to $104.00 in a research report on Friday, April 22nd. JPMorgan Chase & Co. reduced their price objective on Steel Dynamics from $129.00 to $110.00 in a research report on Tuesday, June 14th. Finally, Morgan Stanley dropped their target price on Steel Dynamics from $94.00 to $78.00 and set an “equal weight” rating for the company in a report on Wednesday, July 6th.

STLD opened at $83.01 on Thursday. The company has a market cap of $15.16 billion, a PE ratio of 3.69 and a beta of 1.41. Steel Dynamics has a twelve month low of $50.54 and a twelve month high of $100.37. The company has a 50-day moving average price of $71.98 and a 200 day moving average price of $74.65. The company has a quick ratio of 1.87, a current ratio of 3.52 and a debt-to-equity ratio of 0.41.

Steel Dynamics (NASDAQ:STLD – Get Rating) last released its earnings results on Wednesday, July 20th. The basic materials company reported $6.73 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.39. Steel Dynamics had a return on equity of 71.50% and a net margin of 19.81%. The business had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same quarter last year, the business posted $3.40 earnings per share. The business’s quarterly revenue was up 39.1% compared to the same quarter last year. Sell-side analysts expect that Steel Dynamics will post 21.07 earnings per share for the current fiscal year.

In related news, Director Keith E. Busse sold 5,040 shares of the firm’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $83.51, for a total transaction of $420,890.40. Following the completion of the sale, the director now directly owns 724,034 shares of the company’s stock, valued at approximately $60,464,079.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.40% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Steel Dynamics by 3.2% in the first quarter. BlackRock Inc. now owns 25,820,456 shares of the basic materials company’s stock valued at $2,154,201,000 after buying an additional 801,335 shares in the last quarter. State Street Corp grew its position in Steel Dynamics by 9.5% in the 1st quarter. State Street Corp now owns 9,207,455 shares of the basic materials company’s stock valued at $771,198,000 after acquiring an additional 800,656 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Steel Dynamics by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 6,579,529 shares of the basic materials company’s stock worth $548,937,000 after purchasing an additional 131,147 shares during the period. Victory Capital Management Inc. lifted its position in shares of Steel Dynamics by 2.4% during the first quarter. Victory Capital Management Inc. now owns 4,719,986 shares of the basic materials company’s stock worth $394,294,000 after purchasing an additional 111,469 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $199,835,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. 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; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.

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