Bank of America set a $51.00 target price on Steel Dynamics (NASDAQ:STLD) in a research report sent to investors on Monday morning. The brokerage currently has a buy rating on the basic materials company’s stock.
A number of other research firms have also recently issued reports on STLD. BidaskClub upgraded shares of Steel Dynamics from a buy rating to a strong-buy rating in a report on Saturday, January 6th. Zacks Investment Research cut shares of Steel Dynamics from a hold rating to a sell rating in a report on Tuesday, December 26th. Longbow Research upgraded shares of Steel Dynamics from a neutral rating to a buy rating in a report on Wednesday, December 20th. Cowen set a $43.00 price target on shares of Steel Dynamics and gave the company a buy rating in a report on Monday, December 18th. Finally, Morgan Stanley set a $36.00 price target on shares of Steel Dynamics and gave the company a hold rating in a report on Tuesday, October 24th. Five equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $43.71.
Steel Dynamics (NASDAQ STLD) traded up $1.07 during trading on Monday, reaching $47.12. 1,838,300 shares of the company’s stock traded hands, compared to its average volume of 2,496,550. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.35 and a quick ratio of 1.95. The firm has a market capitalization of $11,130.00, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 1.26 and a beta of 1.40. Steel Dynamics has a 52-week low of $32.15 and a 52-week high of $47.18.
Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The business’s quarterly revenue was up 16.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.64 earnings per share. equities research analysts forecast that Steel Dynamics will post 2.64 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Investors of record on Sunday, December 31st were paid a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Thursday, December 28th. Steel Dynamics’s payout ratio is presently 28.57%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KAMES CAPITAL plc lifted its stake in shares of Steel Dynamics by 4.2% in the fourth quarter. KAMES CAPITAL plc now owns 734,521 shares of the basic materials company’s stock valued at $31,687,000 after buying an additional 29,270 shares during the period. Deane Retirement Strategies Inc. acquired a new position in Steel Dynamics in the fourth quarter worth about $2,295,000. Polianta Ltd acquired a new position in Steel Dynamics in the fourth quarter worth about $1,375,000. Prudential Financial Inc. raised its position in Steel Dynamics by 13.2% in the third quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock worth $159,217,000 after purchasing an additional 539,480 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its position in Steel Dynamics by 15.5% in the third quarter. Parametric Portfolio Associates LLC now owns 464,396 shares of the basic materials company’s stock worth $16,008,000 after purchasing an additional 62,393 shares in the last quarter. Institutional investors and hedge funds own 83.38% of the company’s stock.
Steel Dynamics Company Profile
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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