Brokerages Set Steel Dynamics, Inc. (NASDAQ:STLD) PT at $144.29

Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report) has been assigned a consensus rating of "Hold" from the seven brokerages that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $144.29.

A number of research firms have weighed in on STLD. BMO Capital Markets lifted their target price on Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a report on Friday, October 18th. JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Morgan Stanley reduced their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 18th. UBS Group upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, Bank of America upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock traded down $3.28 during trading on Tuesday, reaching $144.52. The company's stock had a trading volume of 429,085 shares, compared to its average volume of 1,265,962. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $22.30 billion, a P/E ratio of 13.38 and a beta of 1.31. The stock has a 50-day moving average price of $126.70 and a two-hundred day moving average price of $126.83. 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 released its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.07. The company had revenue of $4.34 billion during the quarter, compared to analysts' expectations of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business's revenue was down 5.4% on a year-over-year basis. During the same period last year, the firm posted $3.47 earnings per share. As a group, sell-side analysts anticipate that Steel Dynamics will post 10.18 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.27%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics's dividend payout ratio (DPR) is currently 16.65%.

Insiders Place Their Bets

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the sale, the vice president now owns 17,100 shares of the company's stock, valued at approximately $2,306,106. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Glenn Pushis sold 17,941 shares of the firm's stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the transaction, the senior vice president now owns 146,693 shares of the company's stock, valued at $19,523,371.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the business's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the transaction, the vice president now owns 17,100 shares of the company's stock, valued at $2,306,106. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.00% of the company's stock.

Institutional Investors Weigh In On Steel Dynamics

A number of institutional investors have recently bought and sold shares of STLD. Kingsview Wealth Management LLC increased its position in Steel Dynamics by 7.6% during the 3rd quarter. Kingsview Wealth Management LLC now owns 70,225 shares of the basic materials company's stock valued at $8,854,000 after purchasing an additional 4,970 shares during the period. Cerity Partners LLC grew its position in shares of Steel Dynamics by 41.8% during the 3rd quarter. Cerity Partners LLC now owns 95,486 shares of the basic materials company's stock valued at $12,039,000 after acquiring an additional 28,131 shares during the period. Raymond James Trust N.A. purchased a new position in Steel Dynamics during the third quarter valued at $201,000. Eagle Asset Management Inc. raised its stake in Steel Dynamics by 3.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 39,065 shares of the basic materials company's stock valued at $4,925,000 after purchasing an additional 1,270 shares during the last quarter. Finally, Banco Santander S.A. purchased a new stake in shares of Steel Dynamics in the third quarter valued at approximately $242,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

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.