Steel Dynamics (NASDAQ:STLD) Price Target Increased to $135.00 by Analysts at BMO Capital Markets

by · The Cerbat Gem

Steel Dynamics (NASDAQ:STLD – Free Report) had its price objective raised by BMO Capital Markets from $130.00 to $135.00 in a research report released on Friday morning, Benzinga reports. The firm currently has a market perform rating on the basic materials company’s stock.

STLD has been the topic of a number of other research reports. Morgan Stanley cut their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics presently has a consensus rating of “Hold” and a consensus price target of $144.29.

Get Our Latest Stock Report on Steel Dynamics

Steel Dynamics Trading Up 1.1 %

NASDAQ:STLD opened at $136.57 on Friday. The company’s 50 day moving average price is $120.79 and its 200-day moving average price is $127.51. Steel Dynamics has a 52 week low of $98.25 and a 52 week high of $151.34. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. The stock has a market cap of $21.07 billion, a price-to-earnings ratio of 10.95 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD – Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the prior year, the company posted $3.47 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, equities research analysts forecast that Steel Dynamics will post 10.12 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.46 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.35%. Steel Dynamics’s payout ratio is presently 14.76%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its position in Steel Dynamics by 4.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock worth $534,295,000 after acquiring an additional 152,254 shares during the period. Pacer Advisors Inc. raised its position in Steel Dynamics by 7.0% in the second quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock worth $276,891,000 after acquiring an additional 140,042 shares during the period. Thrivent Financial for Lutherans raised its position in Steel Dynamics by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock worth $228,999,000 after acquiring an additional 22,390 shares during the period. LSV Asset Management raised its position in Steel Dynamics by 3.9% in the second quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock worth $182,604,000 after acquiring an additional 53,532 shares during the period. Finally, Acadian Asset Management LLC raised its position in Steel Dynamics by 21.6% in the first quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock worth $168,550,000 after acquiring an additional 202,312 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Company Profile

(Get Free Report)

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.

See Also