Steel Dynamics (NASDAQ:STLD) PT Raised to $118.00

Steel Dynamics (NASDAQ:STLD) had its price target raised by JPMorgan Chase & Co. from $100.00 to $118.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has an underweight rating on the basic materials company’s stock.

Several other research firms have also commented on STLD. Citigroup upped their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a buy rating in a research report on Wednesday, March 13th. BMO Capital Markets upped their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a market perform rating in a research report on Monday, March 18th. Finally, UBS Group lowered their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a neutral rating for the company in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $120.29.

Steel Dynamics Stock Down 2.1 %

Shares of NASDAQ:STLD opened at $136.07 on Tuesday. The stock has a market capitalization of $21.49 billion, a price-to-earnings ratio of 9.33 and a beta of 1.42. Steel Dynamics has a 1-year low of $90.55 and a 1-year high of $151.34. The company’s fifty day moving average is $135.97 and its two-hundred day moving average is $121.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.22 billion. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The firm’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same period last year, the company posted $4.37 earnings per share. Equities analysts anticipate that Steel Dynamics will post 11.6 EPS for the current year.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio is currently 12.61%.

Hedge Funds Weigh In On Steel Dynamics

Institutional investors and hedge funds have recently bought and sold shares of the stock. CVA Family Office LLC bought a new position in Steel Dynamics in the 4th quarter valued at about $28,000. Turtle Creek Wealth Advisors LLC bought a new position in Steel Dynamics in the 4th quarter valued at about $29,000. Lindbrook Capital LLC grew its position in Steel Dynamics by 117.5% in the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after buying an additional 134 shares in the last quarter. Wellington Shields & Co. LLC boosted its position in shares of Steel Dynamics by 50.0% during the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 100 shares in the last quarter. Finally, Security National Bank bought a new position in shares of Steel Dynamics during the 4th quarter valued at about $30,000. 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.