Steel Dynamics (NASDAQ:STLD) had its target price boosted by Deutsche Bank from $27.00 to $31.00 in a report published on Wednesday morning, The Fly reports. They currently have a buy rating on the basic materials company’s stock.
A number of other equities research analysts have also commented on STLD. BMO Capital Markets upped their price target on Steel Dynamics from $24.00 to $29.00 and gave the company a market perform rating in a research report on Friday, June 19th. Cfra raised Steel Dynamics from a hold rating to a buy rating in a research note on Wednesday, July 22nd. UBS Group dropped their price objective on Steel Dynamics from $43.00 to $32.00 and set a buy rating on the stock in a research note on Thursday, May 14th. TheStreet downgraded Steel Dynamics from a b- rating to a c+ rating in a research note on Wednesday, July 8th. Finally, Credit Suisse Group boosted their price objective on Steel Dynamics from $25.00 to $28.00 and gave the company a neutral rating in a research note on Wednesday, July 22nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of Hold and an average price target of $31.18.
NASDAQ STLD opened at $27.41 on Wednesday. The business’s 50-day moving average price is $26.61 and its two-hundred day moving average price is $26.01. Steel Dynamics has a 12 month low of $14.98 and a 12 month high of $35.78. The firm has a market capitalization of $5.80 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 1.07 and a beta of 1.44. The company has a current ratio of 3.60, a quick ratio of 2.20 and a debt-to-equity ratio of 0.66.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Monday, July 20th. The basic materials company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Steel Dynamics had a return on equity of 14.53% and a net margin of 5.60%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the company posted $0.87 EPS. The business’s revenue was down 24.4% on a year-over-year basis. As a group, analysts forecast that Steel Dynamics will post 2.15 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date was Monday, June 29th. Steel Dynamics’s dividend payout ratio (DPR) is currently 32.26%.
Several institutional investors have recently modified their holdings of STLD. Comerica Bank raised its stake in shares of Steel Dynamics by 5.0% in the second quarter. Comerica Bank now owns 151,290 shares of the basic materials company’s stock worth $4,194,000 after purchasing an additional 7,212 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Steel Dynamics in the second quarter worth approximately $54,000. Botty Investors LLC raised its stake in shares of Steel Dynamics by 156.8% in the second quarter. Botty Investors LLC now owns 24,020 shares of the basic materials company’s stock worth $633,000 after purchasing an additional 14,665 shares during the last quarter. Mackay Shields LLC raised its stake in shares of Steel Dynamics by 2,569.3% in the second quarter. Mackay Shields LLC now owns 288,231 shares of the basic materials company’s stock worth $7,520,000 after purchasing an additional 277,433 shares during the last quarter. Finally, ARP Americas LP purchased a new stake in shares of Steel Dynamics in the second quarter worth approximately $280,000. 80.47% of the stock is owned by hedge funds and other institutional investors.
Steel Dynamics Company Profile
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.
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