Several other research analysts also recently commented on the stock. Credit Suisse Group raised shares of Steel Dynamics from a neutral rating to an outperform rating in a report on Tuesday, January 8th. They noted that the move was a valuation call. ValuEngine raised shares of Steel Dynamics from a strong sell rating to a sell rating in a report on Thursday, January 10th. Cowen assumed coverage on shares of Steel Dynamics in a report on Tuesday, January 8th. They issued a market perform rating and a $32.00 price target for the company. Finally, Zacks Investment Research raised shares of Steel Dynamics from a sell rating to a hold rating in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. The stock has an average rating of Hold and an average target price of $48.89.
STLD opened at $33.66 on Friday. The company has a market capitalization of $7.55 billion, a P/E ratio of 6.13, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39. Steel Dynamics has a 12 month low of $28.91 and a 12 month high of $52.10. The company has a quick ratio of 2.13, a current ratio of 3.96 and a debt-to-equity ratio of 0.62.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, January 22nd. The basic materials company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.06. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.93 billion. Steel Dynamics had a net margin of 10.65% and a return on equity of 35.44%. Steel Dynamics’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS. On average, equities analysts expect that Steel Dynamics will post 3.93 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 12th. Shareholders of record on Sunday, March 31st were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 2.85%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Friday, March 29th. Steel Dynamics’s dividend payout ratio (DPR) is presently 17.49%.
Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp raised its position in shares of Steel Dynamics by 2.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,264,092 shares of the basic materials company’s stock valued at $147,503,000 after buying an additional 72,097 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Steel Dynamics by 39.5% during the 3rd quarter. Franklin Resources Inc. now owns 7,322 shares of the basic materials company’s stock valued at $331,000 after buying an additional 2,075 shares in the last quarter. GAM Holding AG purchased a new stake in shares of Steel Dynamics during the 3rd quarter valued at $254,000. JPMorgan Chase & Co. raised its position in shares of Steel Dynamics by 8.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,373,423 shares of the basic materials company’s stock valued at $62,065,000 after buying an additional 107,058 shares in the last quarter. Finally, LPL Financial LLC raised its position in shares of Steel Dynamics by 11.6% during the 3rd quarter. LPL Financial LLC now owns 55,900 shares of the basic materials company’s stock valued at $2,526,000 after buying an additional 5,816 shares in the last quarter. 82.58% 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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