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Steel Dynamics (NASDAQ:STLD - Get Rating) has been given a $95.00 price target by stock analysts at UBS Group in a research note issued on Monday, Stock Target Advisor reports. UBS Group's price target indicates a potential upside of 32.20% from the stock's previous close.
A number of other research firms have also recently weighed in on STLD. The Goldman Sachs Group cut shares of Steel Dynamics from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $114.00 to $92.00 in a research report on Tuesday, May 31st. JPMorgan Chase & Co. lowered their price objective on shares of Steel Dynamics from $129.00 to $110.00 in a research report on Tuesday, June 14th. StockNews.com initiated coverage on shares of Steel Dynamics in a research report on Thursday, March 31st. They issued a "buy" rating for the company. Finally, BMO Capital Markets raised their price target on shares of Steel Dynamics from $95.00 to $104.00 in a research report on Friday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $87.00.
STLD stock traded up $1.99 during mid-day trading on Monday, reaching $71.86. The company's stock had a trading volume of 214,248 shares, compared to its average volume of 2,402,690. The stock has a market cap of $13.56 billion, a PE ratio of 3.71 and a beta of 1.30. The company has a current ratio of 3.42, a quick ratio of 1.74 and a debt-to-equity ratio of 0.45. Steel Dynamics has a fifty-two week low of $50.54 and a fifty-two week high of $100.37. The company's 50 day moving average is $81.99 and its two-hundred day moving average is $72.38.
Steel Dynamics (NASDAQ:STLD - Get Rating) last announced its quarterly earnings results on Wednesday, April 20th. The basic materials company reported $6.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business's revenue was up 57.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.10 EPS. On average, analysts forecast that Steel Dynamics will post 19.84 earnings per share for the current fiscal year.
Steel Dynamics announced that its Board of Directors has approved a stock buyback program on Monday, February 28th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 8.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
In related news, Director Keith E. Busse sold 5,040 shares of Steel Dynamics stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $83.51, for a total transaction of $420,890.40. Following the sale, the director now directly owns 724,034 shares in the company, valued at approximately $60,464,079.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 5.40% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in 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 purchasing an additional 801,335 shares during the period. State Street Corp increased its stake in Steel Dynamics by 9.5% in the first quarter. State Street Corp now owns 9,207,455 shares of the basic materials company's stock valued at $771,198,000 after purchasing an additional 800,656 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Steel Dynamics by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,579,529 shares of the basic materials company's stock valued at $548,937,000 after acquiring an additional 131,147 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Steel Dynamics by 2.4% in the first quarter. Victory Capital Management Inc. now owns 4,719,986 shares of the basic materials company's stock valued at $394,294,000 after acquiring an additional 111,469 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Steel Dynamics by 52.4% in the third quarter. Wellington Management Group LLP now owns 3,383,492 shares of the basic materials company's stock valued at $197,866,000 after acquiring an additional 1,163,597 shares in the last quarter. Institutional investors own 83.19% of the company's stock.
Steel Dynamics Company Profile (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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