BNP Paribas upgraded shares of Steel Dynamics (NASDAQ:STLD - Free Report) from a neutral rating to an outperform rating in a research note released on Friday, Marketbeat.com reports.
Several other equities research analysts have also issued reports on STLD. Bank of America upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. BMO Capital Markets boosted their price target on Steel Dynamics from $130.00 to $135.00 and gave the stock a "market perform" rating in a research report on Friday, October 18th. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a report on Friday, October 18th. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They issued a "neutral" rating and a $155.00 target price for the company. Finally, Morgan Stanley lowered their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 18th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $144.25.
View Our Latest Stock Report on STLD
Steel Dynamics Stock Up 1.1 %
STLD traded up $1.22 during trading on Friday, reaching $113.15. The company had a trading volume of 2,229,398 shares, compared to its average volume of 1,711,699. The business's fifty day moving average price is $132.68 and its 200 day moving average price is $126.82. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. Steel Dynamics has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a market cap of $17.23 billion, a P/E ratio of 10.24 and a beta of 1.36.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company's revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the business posted $3.47 EPS. Equities analysts anticipate that Steel Dynamics will post 10.09 EPS for the current year.
Steel Dynamics Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.63%. Steel Dynamics's dividend payout ratio (DPR) is currently 16.65%.
Insider Buying and Selling
In other news, SVP Miguel Alvarez sold 6,650 shares of the company's stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the sale, the senior vice president now directly owns 116,949 shares in the company, valued at approximately $16,723,707. This represents a 5.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of the firm's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the transaction, the senior vice president now owns 21,101 shares in the company, valued at $2,927,763.75. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,591 shares of company stock valued at $3,885,938. Insiders own 6.00% of the company's stock.
Institutional Investors Weigh In On Steel Dynamics
Several institutional investors and hedge funds have recently bought and sold shares of STLD. Holocene Advisors LP increased its stake in Steel Dynamics by 85.8% in the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company's stock valued at $289,400,000 after acquiring an additional 1,060,007 shares during the last quarter. Pacer Advisors Inc. increased its stake in shares of Steel Dynamics by 7.0% in the 2nd quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company's stock valued at $276,891,000 after purchasing an additional 140,042 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Steel Dynamics by 1.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company's stock worth $228,999,000 after buying an additional 22,390 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Steel Dynamics by 6.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company's stock worth $194,933,000 after buying an additional 96,122 shares during the last quarter. Finally, LSV Asset Management grew its holdings in shares of Steel Dynamics by 3.9% during the 2nd quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company's stock valued at $182,604,000 after purchasing an additional 53,532 shares during the last quarter. Institutional investors own 82.41% of the company's stock.
About Steel Dynamics
(
Get Free Report)
Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.
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