Steel Dynamics (NASDAQ:STLD) PT Lowered to $131.00 at Morgan Stanley

by · The Markets Daily

Steel Dynamics (NASDAQ:STLD – Free Report) had its price target cut by Morgan Stanley from $138.00 to $131.00 in a research report released on Wednesday, Benzinga reports. They currently have an equal weight rating on the basic materials company’s stock.

Other equities research analysts have also recently issued reports about the company. UBS Group upgraded Steel Dynamics from a neutral rating to a buy rating and upped their target price for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upgraded Steel Dynamics from an underweight rating to a neutral rating and upped their target price for the company from $120.00 to $131.00 in a research report on Monday, September 9th. BMO Capital Markets dropped their price target on shares of Steel Dynamics from $135.00 to $127.00 and set a market perform rating on the stock in a research report on Tuesday. Finally, Bank of America reduced their price objective on shares of Steel Dynamics from $150.00 to $145.00 and set a neutral rating for the company in a research report on Wednesday, June 26th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $141.29.

Check Out Our Latest Stock Analysis on STLD

Steel Dynamics Trading Down 0.2 %

Steel Dynamics stock opened at $119.83 on Wednesday. Steel Dynamics has a 1 year low of $98.25 and a 1 year high of $151.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.35 and a quick ratio of 1.19. The firm’s 50 day moving average price is $120.30 and its 200-day moving average price is $129.08. The stock has a market cap of $18.49 billion, a P/E ratio of 8.23 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD – Get Free Report) last issued its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.05. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the previous year, the firm posted $4.81 earnings per share. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, equities analysts predict that Steel Dynamics will post 10.57 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $0.46 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.54%. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. boosted its holdings in Steel Dynamics by 12.0% in the fourth quarter. Franklin Resources Inc. now owns 344,569 shares of the basic materials company’s stock valued at $40,694,000 after purchasing an additional 37,033 shares in the last quarter. Nordea Investment Management AB lifted its stake in Steel Dynamics by 2.5% in the 1st quarter. Nordea Investment Management AB now owns 1,034,133 shares of the basic materials company’s stock valued at $153,290,000 after buying an additional 25,280 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Steel Dynamics by 15.3% during the 4th quarter. Schroder Investment Management Group now owns 743,697 shares of the basic materials company’s stock worth $87,831,000 after purchasing an additional 98,764 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Steel Dynamics by 1,498.4% during the first quarter. SG Americas Securities LLC now owns 29,730 shares of the basic materials company’s stock worth $4,407,000 after purchasing an additional 27,870 shares during the last quarter. Finally, Trustmark National Bank Trust Department grew its holdings in Steel Dynamics by 126.6% in the first quarter. Trustmark National Bank Trust Department now owns 7,134 shares of the basic materials company’s stock valued at $1,057,000 after purchasing an additional 3,986 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

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.

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