Steel Dynamics, Inc. (NASDAQ:STLD) Given Average Recommendation of “Hold” by Brokerages

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $143.38.

Several brokerages recently issued reports on STLD. UBS Group reissued a “neutral” rating and set a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $125.00 to $145.00 in a report on Friday. JPMorgan Chase & Co. dropped their price target on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Citigroup reduced their price objective on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group initiated coverage on Steel Dynamics in a research note on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price for the company.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the transaction, the senior vice president now owns 116,949 shares of the company’s stock, valued at $16,723,707. The trade was a 5.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the transaction, the senior vice president now owns 21,101 shares in the company, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,650 shares of company stock valued at $1,498,170. 6.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Steel Dynamics

Several large investors have recently made changes to their positions in the stock. Columbus Macro LLC boosted its position in shares of Steel Dynamics by 31.5% during the fourth quarter. Columbus Macro LLC now owns 2,271 shares of the basic materials company’s stock worth $259,000 after buying an additional 544 shares during the period. Optas LLC bought a new stake in shares of Steel Dynamics in the fourth quarter worth $204,000. Resonant Capital Advisors LLC grew its position in Steel Dynamics by 3.3% in the fourth quarter. Resonant Capital Advisors LLC now owns 3,200 shares of the basic materials company’s stock valued at $366,000 after purchasing an additional 101 shares in the last quarter. Greenleaf Trust increased its stake in Steel Dynamics by 2.9% in the 4th quarter. Greenleaf Trust now owns 4,754 shares of the basic materials company’s stock valued at $542,000 after buying an additional 133 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. lifted its position in Steel Dynamics by 5.8% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,209 shares of the basic materials company’s stock worth $594,000 after buying an additional 285 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Down 0.0 %

NASDAQ STLD opened at $122.35 on Friday. Steel Dynamics has a 1-year low of $104.60 and a 1-year high of $155.56. The company has a market capitalization of $18.63 billion, a price-to-earnings ratio of 12.48 and a beta of 1.36. The stock’s 50 day moving average is $127.27 and its two-hundred day moving average is $126.38. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.25%. During the same period in the prior year, the firm earned $2.61 earnings per share. Equities analysts forecast that Steel Dynamics will post 8.93 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics’s payout ratio is 18.78%.

Steel Dynamics Company Profile

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.