Steel Dynamics (NASDAQ:STLD) Raised to Hold at ValuEngine

ValuEngine upgraded shares of Steel Dynamics (NASDAQ:STLD) from a sell rating to a hold rating in a research note issued to investors on Friday morning, ValuEngine reports.

Several other equities analysts have also weighed in on STLD. UBS Group set a $70.00 target price on Lumentum and gave the company a buy rating in a research note on Wednesday, May 8th. Citigroup set a $74.00 target price on Realty Income and gave the company a hold rating in a research note on Tuesday, June 11th. Deutsche Bank reissued a hold rating on shares of Steel Dynamics in a research note on Thursday, June 27th. BidaskClub lowered Ames National from a hold rating to a sell rating in a research report on Wednesday, July 17th. Finally, Macquarie set a $36.00 price target on Steel Dynamics and gave the stock a hold rating in a research report on Tuesday, April 23rd. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Steel Dynamics presently has an average rating of Buy and an average price target of $42.54.

NASDAQ:STLD opened at $31.47 on Friday. Steel Dynamics has a 1-year low of $25.02 and a 1-year high of $49.70. The firm has a 50-day moving average of $28.59. The company has a quick ratio of 2.15, a current ratio of 4.02 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of 5.73, a price-to-earnings-growth ratio of 0.82 and a beta of 1.55.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Monday, April 22nd. The basic materials company reported $0.91 earnings per share for the quarter, meeting the consensus estimate of $0.91. Steel Dynamics had a return on equity of 33.56% and a net margin of 10.26%. The firm had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the prior year, the firm posted $0.96 earnings per share. The company’s quarterly revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts expect that Steel Dynamics will post 3.2 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Sunday, June 30th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date was Thursday, June 27th. Steel Dynamics’s dividend payout ratio is currently 17.49%.

In other news, insider Russell B. Rinn bought 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were acquired at an average price of $25.58 per share, with a total value of $51,160.00. Following the transaction, the insider now owns 220,459 shares in the company, valued at $5,639,341.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Glenn Pushis bought 5,740 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was purchased at an average cost of $26.13 per share, for a total transaction of $149,986.20. Following the transaction, the insider now owns 91,289 shares in the company, valued at approximately $2,385,381.57. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 12,740 shares of company stock worth $336,296. 4.90% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Steel Dynamics by 3.4% in the 1st quarter. BlackRock Inc. now owns 24,696,468 shares of the basic materials company’s stock valued at $871,044,000 after buying an additional 802,211 shares during the last quarter. Norges Bank acquired a new stake in Steel Dynamics in the 4th quarter valued at approximately $146,724,000. Dimensional Fund Advisors LP raised its position in Steel Dynamics by 7.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,472,381 shares of the basic materials company’s stock valued at $134,353,000 after buying an additional 309,961 shares during the last quarter. Northern Trust Corp raised its position in Steel Dynamics by 1.7% in the 1st quarter. Northern Trust Corp now owns 2,791,862 shares of the basic materials company’s stock valued at $98,469,000 after buying an additional 47,372 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Steel Dynamics by 7.1% in the 4th quarter. Geode Capital Management LLC now owns 2,770,859 shares of the basic materials company’s stock valued at $83,190,000 after buying an additional 184,297 shares during the last quarter. 81.70% of the stock is currently owned by institutional investors and hedge funds.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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