Steel Dynamics (NASDAQ:STLD) Price Target Increased to $135.00 by Analysts at BMO Capital Markets

Steel Dynamics (NASDAQ:STLD) had its price target raised by BMO Capital Markets from $130.00 to $135.00 in a research report sent to investors on Friday, Benzinga reports. BMO Capital Markets currently has a market perform rating on the basic materials company’s stock.

A number of other equities research analysts have also commented on the company. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Morgan Stanley lowered their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. decreased their target price on Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Steel Dynamics has a consensus rating of “Hold” and a consensus price target of $144.29.

Steel Dynamics Price Performance

Shares of STLD opened at $133.45 on Friday. Steel Dynamics has a 12-month low of $98.32 and a 12-month high of $151.34. The business’s fifty day moving average is $120.79 and its 200 day moving average is $127.22. The company has a quick ratio of 1.19, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The stock has a market cap of $20.59 billion, a P/E ratio of 12.07 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. Steel Dynamics’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.47 EPS. Sell-side analysts anticipate that Steel Dynamics will post 10.12 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.38%. The ex-dividend date was Monday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is currently 16.65%.

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Steel Dynamics

Large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its stake in Steel Dynamics by 4.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock worth $534,295,000 after purchasing an additional 152,254 shares during the period. Pacer Advisors Inc. boosted its stake in Steel Dynamics by 7.0% in the 2nd quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock worth $276,891,000 after purchasing an additional 140,042 shares during the period. Thrivent Financial for Lutherans boosted its stake in Steel Dynamics by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock worth $228,999,000 after purchasing an additional 22,390 shares during the period. LSV Asset Management boosted its stake in Steel Dynamics by 3.9% in the 2nd quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock worth $182,604,000 after purchasing an additional 53,532 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in Steel Dynamics by 21.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock worth $168,550,000 after purchasing an additional 202,312 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

About Steel Dynamics

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.