Steel Dynamics, Inc. (NASDAQ:STLD) had its target price increased by research analysts at JPMorgan Chase & Co. from $41.00 to $44.00 in a research note issued on Wednesday. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 29.83% from the stock’s previous close.
Several other brokerages have also commented on STLD. Macquarie lowered Steel Dynamics from an “outperform” rating to a “neutral” rating and set a $35.00 price objective for the company. in a report on Tuesday, November 29th. Deutsche Bank AG boosted their price objective on Steel Dynamics from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, March 21st. Citigroup Inc reissued a “buy” rating and set a $43.00 price objective (up previously from $30.00) on shares of Steel Dynamics in a report on Friday, January 20th. Credit Suisse Group AG lowered Steel Dynamics from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $33.00 to $36.00 in a report on Thursday, January 12th. Finally, Vetr lowered Steel Dynamics from a “hold” rating to a “sell” rating and set a $33.61 price objective for the company. in a report on Tuesday, November 22nd. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $36.74.
Steel Dynamics (NASDAQ:STLD) traded down 0.47% on Wednesday, reaching $33.73. 2,528,166 shares of the company’s stock traded hands. Steel Dynamics has a 12 month low of $21.57 and a 12 month high of $40.17. The firm’s 50-day moving average is $35.67 and its 200 day moving average is $32.27. The firm has a market cap of $8.17 billion, a PE ratio of 21.62 and a beta of 1.35.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, January 24th. The company reported $0.43 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.43. Steel Dynamics had a return on equity of 17.30% and a net margin of 4.91%. The company earned $1.91 billion during the quarter, compared to analyst estimates of $1.88 billion. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Steel Dynamics’s revenue was up 20.1% on a year-over-year basis. Equities analysts predict that Steel Dynamics will post $2.67 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 10th. Shareholders of record on Friday, March 31st will be paid a $0.155 dividend. The ex-dividend date is Wednesday, March 29th. This represents a $0.62 annualized dividend and a yield of 1.83%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.14. Steel Dynamics’s dividend payout ratio is currently 35.90%.
In other Steel Dynamics news, Director Richard P. Teets, Jr. sold 140,295 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $35.64, for a total value of $5,000,113.80. Following the completion of the sale, the director now 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 SEC, which can be accessed through this link. 4.10% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of STLD. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in shares of Steel Dynamics by 3,458.0% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 99,624 shares of the company’s stock valued at $100,000 after buying an additional 96,824 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Steel Dynamics by 181.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,496 shares of the company’s stock valued at $113,000 after buying an additional 2,896 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Steel Dynamics during the fourth quarter valued at $141,000. Ancora Advisors LLC bought a new stake in shares of Steel Dynamics during the fourth quarter valued at $146,000. Finally, Acrospire Investment Management LLC increased its stake in shares of Steel Dynamics by 33.3% in the third quarter. Acrospire Investment Management LLC now owns 7,599 shares of the company’s stock valued at $190,000 after buying an additional 1,900 shares during the last quarter. 79.46% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Steel Dynamics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.