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Steel Dynamics, Inc. (NASDAQ:STLD - Get Rating) has been given an average recommendation of "Hold" by the ten analysts that are presently 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 1 year price target among brokerages that have issued a report on the stock in the last year is $87.00.
STLD has been the subject of several recent analyst reports. StockNews.com initiated coverage on shares of Steel Dynamics in a research note on Thursday, March 31st. They set a "buy" rating for the company. JPMorgan Chase & Co. lowered their price objective on shares of Steel Dynamics from $129.00 to $110.00 in a research note on Tuesday, June 14th. BMO Capital Markets upped their price objective on shares of Steel Dynamics from $95.00 to $104.00 in a research note on Friday, April 22nd. UBS Group set a $95.00 price objective on shares of Steel Dynamics in a research note on Monday. Finally, The Goldman Sachs Group downgraded shares of Steel Dynamics from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $114.00 to $92.00 in a research note on Tuesday, May 31st.
Steel Dynamics stock opened at $70.73 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 3.42 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $13.35 billion, a PE ratio of 3.65 and a beta of 1.30. The firm has a fifty day simple moving average of $81.48 and a two-hundred day simple moving average of $72.46. Steel Dynamics has a twelve month low of $50.54 and a twelve month high of $100.37.
Steel Dynamics (NASDAQ:STLD - Get Rating) last posted its quarterly earnings results on Wednesday, April 20th. The basic materials company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.58 by $0.44. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.35 billion. Steel Dynamics had a net margin of 19.02% and a return on equity of 69.88%. The firm's revenue for the quarter was up 57.1% on a year-over-year basis. During the same period in the previous year, the firm posted $2.10 earnings per share. As a group, equities analysts expect that Steel Dynamics will post 19.84 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Wednesday, June 29th. Steel Dynamics's dividend payout ratio (DPR) is presently 7.02%.
Steel Dynamics announced that its Board of Directors has authorized a share buyback program on Monday, February 28th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 8.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its shares are undervalued.
In other Steel Dynamics news, Director Keith E. Busse sold 5,040 shares of the company's stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $83.51, for a total value of $420,890.40. Following the sale, the director now owns 724,034 shares in the company, valued at $60,464,079.34. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.40% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the company. Venture Visionary Partners LLC grew its holdings in shares of Steel Dynamics by 1.1% during the first quarter. Venture Visionary Partners LLC now owns 11,840 shares of the basic materials company's stock valued at $987,000 after buying an additional 132 shares during the last quarter. Paragon Capital Management Ltd grew its holdings in shares of Steel Dynamics by 3.6% during the first quarter. Paragon Capital Management Ltd now owns 3,932 shares of the basic materials company's stock valued at $328,000 after buying an additional 138 shares during the last quarter. First National Bank of South Miami lifted its position in Steel Dynamics by 5.1% during the fourth quarter. First National Bank of South Miami now owns 3,459 shares of the basic materials company's stock valued at $215,000 after purchasing an additional 168 shares during the period. Wetherby Asset Management Inc. lifted its position in Steel Dynamics by 4.3% during the first quarter. Wetherby Asset Management Inc. now owns 4,204 shares of the basic materials company's stock valued at $351,000 after purchasing an additional 174 shares during the period. Finally, Eagle Asset Management Inc. lifted its position in Steel Dynamics by 0.5% during the fourth quarter. Eagle Asset Management Inc. now owns 37,183 shares of the basic materials company's stock valued at $2,300,000 after purchasing an additional 175 shares during the period. Hedge funds and other institutional investors own 83.19% of the company's stock.
About Steel Dynamics (Get Rating)
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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