Several other research analysts also recently commented on the company. BidaskClub raised Steel Dynamics from a hold rating to a buy rating in a report on Tuesday, December 12th. ValuEngine downgraded Steel Dynamics from a buy rating to a hold rating in a research note on Wednesday, November 29th. KeyCorp reaffirmed a buy rating and set a $44.00 price target on shares of Steel Dynamics in a research note on Friday, November 24th. Morgan Stanley set a $36.00 price objective on Steel Dynamics and gave the stock a hold rating in a report on Tuesday, October 24th. Finally, Bank of America upped their target price on Steel Dynamics from $44.00 to $45.00 and gave the company a buy rating in a report on Friday, October 20th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $41.70.
Steel Dynamics (NASDAQ STLD) traded up $0.15 during trading hours on Monday, reaching $43.46. The company had a trading volume of 2,227,800 shares, compared to its average volume of 3,078,386. The firm has a market cap of $10,262.38, a PE ratio of 17.05, a P/E/G ratio of 1.36 and a beta of 1.40. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.95 and a current ratio of 3.35. Steel Dynamics has a 1-year low of $32.15 and a 1-year high of $43.70.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Sunday, December 31st will be paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Thursday, December 28th. Steel Dynamics’s dividend payout ratio (DPR) is 28.57%.
Hedge funds have recently made changes to their positions in the business. IHT Wealth Management LLC lifted its stake in Steel Dynamics by 0.7% in the 2nd quarter. IHT Wealth Management LLC now owns 407 shares of the basic materials company’s stock worth $198,000 after purchasing an additional 3 shares in the last quarter. Toronto Dominion Bank purchased a new stake in Steel Dynamics in the 2nd quarter worth $107,000. Steward Partners Investment Advisory LLC purchased a new stake in Steel Dynamics in the 3rd quarter worth $112,000. Hefty Wealth Partners lifted its stake in Steel Dynamics by 76.1% in the 3rd quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 1,477 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in Steel Dynamics by 80.8% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 1,589 shares in the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.
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About Steel Dynamics
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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