Analysts Set Steel Dynamics, Inc. (NASDAQ:STLD) PT at $144.25

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have been assigned an average rating of “Hold” from the nine analysts that are currently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $141.13.

STLD has been the topic of several recent analyst reports. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price target for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. BMO Capital Markets raised their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Citigroup dropped their target price on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Jefferies Financial Group decreased their price target on shares of Steel Dynamics from $145.00 to $125.00 and set a “hold” rating on the stock in a report on Monday. Finally, UBS Group reaffirmed a “neutral” rating and set a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $119.81 on Wednesday. Steel Dynamics has a 1-year low of $104.60 and a 1-year high of $155.56. 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 firm has a market capitalization of $18.24 billion, a PE ratio of 10.84 and a beta of 1.36. The firm’s 50 day simple moving average is $132.03 and its 200 day simple moving average is $126.74.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.47 earnings per share. As a group, analysts expect that Steel Dynamics will post 10.09 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is currently 16.65%.

Insiders Place Their Bets

In related news, SVP Miguel Alvarez sold 6,650 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 116,949 shares in the company, valued at $16,723,707. This trade represents a 5.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction that occurred 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 directly owns 21,101 shares in the company, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,591 shares of company stock valued at $3,885,938 over the last three months. Insiders own 6.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in Steel Dynamics during the 3rd quarter valued at $25,000. Private Trust Co. NA increased its position in shares of Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 245 shares during the period. Cullen Frost Bankers Inc. increased its position in shares of Steel Dynamics by 33.3% in the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 100 shares during the period. HHM Wealth Advisors LLC bought a new position in shares of Steel Dynamics during the second quarter valued at about $52,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Steel Dynamics during the third quarter worth about $61,000. 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.