Steel Dynamics (NASDAQ:STLD) had its target price raised by Morgan Stanley from $46.00 to $50.00 in a report issued on Tuesday. The brokerage currently has an equal weight rating on the basic materials company’s stock.
Several other analysts have also recently issued reports on STLD. BidaskClub upgraded Steel Dynamics from a buy rating to a strong-buy rating in a research note on Wednesday, April 4th. Zacks Investment Research upgraded Steel Dynamics from a sell rating to a hold rating in a research note on Wednesday, January 10th. Deutsche Bank upped their price objective on Steel Dynamics from $52.00 to $53.00 and gave the company a buy rating in a research note on Thursday, March 29th. Jefferies Group restated a buy rating on shares of Steel Dynamics in a research note on Wednesday, January 24th. Finally, ValuEngine upgraded Steel Dynamics from a hold rating to a buy rating in a research note on Friday, February 2nd. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average target price of $49.13.
Shares of NASDAQ STLD opened at $46.68 on Tuesday. Steel Dynamics has a 52-week low of $32.20 and a 52-week high of $50.70. The company has a market cap of $11,171.26, a price-to-earnings ratio of 17.62, a PEG ratio of 0.88 and a beta of 1.29. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.29 and a current ratio of 4.04.
Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Monday, January 22nd. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.05. Steel Dynamics had a return on equity of 22.11% and a net margin of 8.59%. The firm had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.17 billion. equities research analysts predict that Steel Dynamics will post 4.48 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, April 13th. Stockholders of record on Saturday, March 31st were given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.61%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.16. The ex-dividend date was Wednesday, March 28th. Steel Dynamics’s dividend payout ratio is presently 28.30%.
Institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new stake in shares of Steel Dynamics during the 3rd quarter worth approximately $112,000. Cubist Systematic Strategies LLC raised its position in shares of Steel Dynamics by 80.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 1,589 shares during the period. Cerebellum GP LLC acquired a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $132,000. Amica Retiree Medical Trust acquired a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $143,000. Finally, CoreCommodity Management LLC bought a new position in Steel Dynamics in the 4th quarter worth approximately $146,000. Institutional investors and hedge funds own 85.44% of the company’s stock.
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About Steel Dynamics
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.
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