Steel Dynamics (STLD) Lowered to Hold at BidaskClub

BidaskClub lowered shares of Steel Dynamics (NASDAQ:STLD) from a buy rating to a hold rating in a report released on Friday morning.

Other analysts also recently issued reports about the company. Citigroup upped their price objective on Steel Dynamics from $54.00 to $55.00 and gave the stock a buy rating in a report on Tuesday, April 24th. Deutsche Bank upped their price objective on Steel Dynamics from $52.00 to $53.00 and gave the stock a buy rating in a report on Thursday, March 29th. Goldman Sachs Group started coverage on Steel Dynamics in a report on Tuesday, March 20th. They set a buy rating and a $59.00 price objective for the company. ValuEngine upgraded Steel Dynamics from a hold rating to a buy rating in a report on Wednesday, May 9th. Finally, Zacks Investment Research upgraded Steel Dynamics from a hold rating to a buy rating and set a $53.00 price objective for the company in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $51.00.

STLD stock opened at $47.90 on Friday. The firm has a market cap of $10.97 billion, a PE ratio of 18.08, a PEG ratio of 0.77 and a beta of 1.33. The company has a debt-to-equity ratio of 0.71, a current ratio of 4.24 and a quick ratio of 2.38. Steel Dynamics has a 52 week low of $32.20 and a 52 week high of $52.10.



Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, April 18th. The basic materials company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.59 billion. Steel Dynamics had a return on equity of 21.60% and a net margin of 8.59%. The business’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.83 EPS. analysts forecast that Steel Dynamics will post 5.01 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 13th. Investors of record on Saturday, June 30th will be issued a $0.1875 dividend. The ex-dividend date is Thursday, June 28th. This represents a $0.75 annualized dividend and a yield of 1.57%. Steel Dynamics’s dividend payout ratio is currently 28.30%.

In related news, Director Jurgen Dr Kolb sold 4,512 shares of the stock in a transaction on Thursday, June 7th. The stock was sold at an average price of $51.02, for a total value of $230,202.24. Following the completion of the sale, the director now directly owns 51,693 shares in the company, valued at approximately $2,637,376.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Theresa E. Wagler sold 17,196 shares of the stock in a transaction on Thursday, May 31st. The shares were sold at an average price of $49.78, for a total value of $856,016.88. Following the completion of the sale, the insider now owns 331,381 shares of the company’s stock, valued at $16,496,146.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,298 shares of company stock valued at $1,266,868. 4.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Mariner LLC increased its holdings in Steel Dynamics by 20.9% in the 1st quarter. Mariner LLC now owns 6,222 shares of the basic materials company’s stock valued at $275,000 after purchasing an additional 1,076 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA grew its stake in shares of Steel Dynamics by 2.4% during the fourth quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 46,729 shares of the basic materials company’s stock valued at $2,015,000 after acquiring an additional 1,100 shares in the last quarter. Dorsey Wright & Associates grew its stake in shares of Steel Dynamics by 0.9% during the first quarter. Dorsey Wright & Associates now owns 133,626 shares of the basic materials company’s stock valued at $5,909,000 after acquiring an additional 1,127 shares in the last quarter. Cetera Advisor Networks LLC grew its stake in shares of Steel Dynamics by 17.3% during the first quarter. Cetera Advisor Networks LLC now owns 8,070 shares of the basic materials company’s stock valued at $357,000 after acquiring an additional 1,193 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its stake in shares of Steel Dynamics by 4.0% during the first quarter. Meeder Asset Management Inc. now owns 36,229 shares of the basic materials company’s stock valued at $1,602,000 after acquiring an additional 1,399 shares in the last quarter. Hedge funds and other institutional investors own 82.71% of the company’s stock.

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. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

Receive News & Ratings for Steel Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply