Steel Dynamics, Inc. (NASDAQ:STLD) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) have received a consensus rating of "Moderate Buy" from the eleven analysts that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $148.56.

STLD has been the topic of a number of recent research reports. StockNews.com raised Steel Dynamics from a "sell" rating to a "hold" rating in a research report on Thursday, March 6th. Citigroup dropped their price target on Steel Dynamics from $160.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. BNP Paribas raised Steel Dynamics from a "neutral" rating to an "outperform" rating in a research report on Friday, January 3rd. Morgan Stanley raised Steel Dynamics from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $145.00 to $158.00 in a research report on Friday, March 7th. Finally, JPMorgan Chase & Co. increased their price target on Steel Dynamics from $132.00 to $140.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 11th.

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Steel Dynamics Trading Down 1.5 %

Steel Dynamics stock traded down $1.88 during mid-day trading on Monday, hitting $126.64. The company's stock had a trading volume of 1,744,971 shares, compared to its average volume of 1,368,633. The company has a 50 day moving average of $127.89 and a 200-day moving average of $127.99. The stock has a market cap of $19.02 billion, a PE ratio of 12.92, a P/E/G ratio of 1.05 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. Steel Dynamics has a one year low of $104.60 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same period in the prior year, the company posted $2.61 earnings per share. On average, research analysts anticipate that Steel Dynamics will post 9.01 EPS for the current year.

Steel Dynamics announced that its board has approved a share repurchase plan on Monday, February 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the basic materials company to purchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a boost from Steel Dynamics's previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a yield of 1.58%. Steel Dynamics's dividend payout ratio (DPR) is 20.41%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total value of $3,184,810.83. Following the completion of the sale, the senior vice president now directly owns 122,140 shares in the company, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Steel Dynamics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Commerce Bank raised its stake in Steel Dynamics by 1.2% in the third quarter. Commerce Bank now owns 5,981 shares of the basic materials company's stock valued at $754,000 after buying an additional 73 shares during the last quarter. Forum Financial Management LP raised its stake in shares of Steel Dynamics by 2.5% in the fourth quarter. Forum Financial Management LP now owns 3,113 shares of the basic materials company's stock worth $355,000 after purchasing an additional 75 shares during the last quarter. M&T Bank Corp raised its stake in shares of Steel Dynamics by 0.9% in the third quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company's stock worth $1,267,000 after purchasing an additional 88 shares during the last quarter. Atomi Financial Group Inc. raised its stake in shares of Steel Dynamics by 5.0% in the fourth quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company's stock worth $220,000 after purchasing an additional 91 shares during the last quarter. Finally, Resonant Capital Advisors LLC grew its holdings in Steel Dynamics by 3.3% during the fourth quarter. Resonant Capital Advisors LLC now owns 3,200 shares of the basic materials company's stock worth $366,000 after acquiring an additional 101 shares during the period. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

About Steel Dynamics

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.