Steel Dynamics (STLD) Raised to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Steel Dynamics (NASDAQ:STLD) from a buy rating to a strong-buy rating in a report issued on Saturday.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Steel Dynamics from a hold rating to a sell rating in a report on Tuesday, December 26th. Longbow Research upgraded Steel Dynamics from a neutral rating to a buy rating in a report on Wednesday, December 20th. Cowen set a $43.00 target price on Steel Dynamics and gave the stock a buy rating in a report on Monday, December 18th. ValuEngine lowered Steel Dynamics from a buy rating to a hold rating in a report on Wednesday, November 29th. Finally, KeyCorp restated a buy rating and issued a $44.00 target price on shares of Steel Dynamics in a report on Friday, November 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Steel Dynamics presently has an average rating of Buy and a consensus price target of $42.64.

Shares of Steel Dynamics (STLD) opened at $45.97 on Friday. Steel Dynamics has a 1-year low of $32.15 and a 1-year high of $46.32. The company has a quick ratio of 1.95, a current ratio of 3.35 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $10,890.00, a P/E ratio of 21.18, a P/E/G ratio of 1.26 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same period in the previous year, the company earned $0.64 EPS. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. analysts predict that Steel Dynamics will post 2.64 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Sunday, December 31st will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.35%. Steel Dynamics’s dividend payout ratio (DPR) is presently 28.57%.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Steel Dynamics by 2.6% during the second quarter. Vanguard Group Inc. now owns 24,405,049 shares of the basic materials company’s stock worth $873,945,000 after buying an additional 611,096 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Steel Dynamics by 9.2% during the second quarter. BlackRock Inc. now owns 21,932,609 shares of the basic materials company’s stock worth $785,405,000 after buying an additional 1,840,803 shares during the last quarter. Boston Partners lifted its holdings in shares of Steel Dynamics by 3.6% during the third quarter. Boston Partners now owns 16,977,310 shares of the basic materials company’s stock worth $585,208,000 after buying an additional 593,498 shares during the last quarter. State Street Corp lifted its holdings in shares of Steel Dynamics by 17.9% during the second quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock worth $317,162,000 after buying an additional 1,346,487 shares during the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of Steel Dynamics by 13.2% during the third quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock worth $159,217,000 after buying an additional 539,480 shares during the last quarter. Institutional investors own 83.38% of the company’s stock.

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Steel Dynamics Company Profile

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.

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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