Steel Dynamics (NASDAQ:STLD) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Steel Dynamics (NASDAQ:STLD) in a report issued on Monday, MarketBeat reports. The brokerage issued a hold rating and a $150.00 target price on the basic materials company’s stock.

Several other analysts have also weighed in on the company. BMO Capital Markets boosted their price objective on Steel Dynamics from $110.00 to $120.00 and gave the company a market perform rating in a report on Monday, March 18th. JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $100.00 to $118.00 and gave the company an underweight rating in a report on Tuesday, April 16th. UBS Group dropped their price target on Steel Dynamics from $120.00 to $119.00 and set a neutral rating on the stock in a research report on Wednesday, January 24th. Finally, Citigroup lifted their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a buy rating in a report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $125.29.

Steel Dynamics Stock Performance

Shares of STLD opened at $133.57 on Monday. The firm has a market cap of $20.99 billion, a price-to-earnings ratio of 9.17 and a beta of 1.47. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $138.85 and its two-hundred day moving average is $126.04. Steel Dynamics has a 52-week low of $90.55 and a 52-week high of $151.34.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.54 by $0.13. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.01 EPS. Analysts forecast that Steel Dynamics will post 12.44 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Sunday, June 30th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.84 dividend on an annualized basis and a yield of 1.38%. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Insider Buying and Selling

In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the sale, the senior vice president now directly owns 60,415 shares in the company, valued at $8,265,376.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 6.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Steel Dynamics

Large investors have recently made changes to their positions in the company. Fifth Third Bancorp increased its position in Steel Dynamics by 11.8% in the 3rd quarter. Fifth Third Bancorp now owns 5,041 shares of the basic materials company’s stock valued at $540,000 after acquiring an additional 531 shares during the period. Csenge Advisory Group acquired a new position in shares of Steel Dynamics during the third quarter valued at $225,000. Coldstream Capital Management Inc. raised its stake in shares of Steel Dynamics by 15.6% during the third quarter. Coldstream Capital Management Inc. now owns 4,919 shares of the basic materials company’s stock valued at $527,000 after purchasing an additional 665 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Steel Dynamics by 4.7% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,244 shares of the basic materials company’s stock worth $455,000 after purchasing an additional 190 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Steel Dynamics by 14.7% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 16,204 shares of the basic materials company’s stock valued at $1,737,000 after buying an additional 2,077 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

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.