Steel Dynamics, Inc. (NASDAQ:STLD)‘s stock had its “neutral” rating reiterated by equities research analysts at Macquarie in a report released on Monday.
Other equities research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $31.00 to $41.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 30th. Zacks Investment Research upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, December 27th. Deutsche Bank AG set a $42.00 price target on shares of Steel Dynamics and gave the stock a “buy” rating in a research report on Monday, December 5th. Jefferies Group LLC restated a “buy” rating and issued a $45.00 price target (up previously from $32.00) on shares of Steel Dynamics in a research report on Tuesday, December 13th. Finally, Barclays PLC set a $40.00 price target on shares of Steel Dynamics and gave the stock a “buy” rating in a research report on Sunday, January 29th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.75.
Shares of Steel Dynamics (NASDAQ:STLD) traded up 0.19% during midday trading on Monday, reaching $36.41. 1,684,107 shares of the company’s stock traded hands. The company has a 50-day moving average of $35.64 and a 200-day moving average of $31.96. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of 23.34 and a beta of 1.35. Steel Dynamics has a one year low of $21.57 and a one year high of $40.17.
Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, January 24th. The company reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. Steel Dynamics had a net margin of 4.91% and a return on equity of 17.30%. The company had revenue of $1.91 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the business posted $0.09 earnings per share. Steel Dynamics’s quarterly revenue was up 20.1% on a year-over-year basis. Equities research analysts anticipate that Steel Dynamics will post $2.60 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, April 10th. Stockholders of record on Friday, March 31st will be paid a dividend of $0.155 per share. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.14. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Wednesday, March 29th. Steel Dynamics’s payout ratio is currently 35.90%.
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In other news, Director Richard P. Teets, Jr. sold 140,295 shares of the business’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $35.64, for a total transaction of $5,000,113.80. Following the completion of the sale, the director now directly owns 5,042,939 shares of the company’s stock, valued at $179,730,345.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of STLD. Vident Investment Advisory LLC raised its stake in shares of Steel Dynamics by 3.6% in the fourth quarter. Vident Investment Advisory LLC now owns 90,677 shares of the company’s stock worth $3,226,000 after buying an additional 3,126 shares in the last quarter. Norges Bank bought a new stake in shares of Steel Dynamics during the fourth quarter worth about $213,607,000. Putnam Investments LLC raised its stake in shares of Steel Dynamics by 0.3% in the fourth quarter. Putnam Investments LLC now owns 170,601 shares of the company’s stock worth $6,070,000 after buying an additional 435 shares in the last quarter. Sandler Capital Management bought a new stake in shares of Steel Dynamics during the fourth quarter worth about $11,805,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main bought a new stake in shares of Steel Dynamics during the fourth quarter worth about $1,779,000. 79.46% of the stock is owned by hedge funds and other institutional investors.
Steel Dynamics Company Profile
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