Steel Dynamics (STLD) PT Set at $43.00 by Cowen

Cowen set a $43.00 price objective on Steel Dynamics (NASDAQ:STLD) in a research note released on Monday. The brokerage currently has a buy rating on the basic materials company’s stock.

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.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.66. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. Steel Dynamics’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS. equities research analysts predict that Steel Dynamics will post 2.65 earnings per share for the current fiscal year.

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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