Steel Dynamics (NASDAQ:STLD) PT Lowered to $127.00

by · The Markets Daily

Steel Dynamics (NASDAQ:STLD – Free Report) had its target price cut by BMO Capital Markets from $135.00 to $127.00 in a research report released on Tuesday, MarketBeat reports. They currently have a market perform rating on the basic materials company’s stock.

Several other research firms have also issued reports on STLD. Bank of America decreased their target price on Steel Dynamics from $150.00 to $145.00 and set a neutral rating for the company in a research report on Wednesday, June 26th. Morgan Stanley upped their target price on shares of Steel Dynamics from $134.00 to $138.00 and gave the company an equal weight rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. raised shares of Steel Dynamics from an underweight rating to a neutral rating and lifted their price target for the stock from $120.00 to $131.00 in a research report on Monday, September 9th. UBS Group upgraded shares of Steel Dynamics from a neutral rating to a buy rating and upped their price objective for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Finally, Jefferies Financial Group initiated coverage on Steel Dynamics in a report on Monday, May 20th. They set a hold rating and a $150.00 target price on the stock. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $141.29.

Check Out Our Latest Report on Steel Dynamics

Steel Dynamics Stock Up 4.3 %

NASDAQ STLD opened at $120.09 on Tuesday. The stock has a fifty day moving average of $120.49 and a 200-day moving average of $129.15. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The stock has a market capitalization of $18.53 billion, a P/E ratio of 8.25 and a beta of 1.32. Steel Dynamics has a 52 week low of $98.25 and a 52 week high of $151.34.

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

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend is Monday, September 30th. Steel Dynamics’s dividend payout ratio is 12.64%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of STLD. Larson Financial Group LLC acquired a new position in Steel Dynamics during the 1st quarter worth approximately $25,000. LifeSteps Financial Inc. acquired a new position in Steel Dynamics during the first quarter worth $26,000. Security National Bank acquired a new position in Steel Dynamics during the fourth quarter worth $30,000. Innealta Capital LLC bought a new position in Steel Dynamics in the second quarter valued at $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Steel Dynamics during the 2nd quarter worth about $41,000. 82.41% of the stock is currently owned by institutional investors.

About Steel Dynamics

(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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