Steel Dynamics, Inc. (NASDAQ:STLD) Given Consensus Rating of “Hold” by Analysts

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have been given a consensus rating of “Hold” by the eleven brokerages that are covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $182.00.

Several equities research analysts have weighed in on STLD shares. Citigroup increased their target price on Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. BMO Capital Markets increased their price objective on shares of Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, January 31st. Wells Fargo & Company raised their price target on shares of Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. Finally, Jefferies Financial Group lifted their price target on Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, December 10th.

Steel Dynamics Stock Down 1.5%

NASDAQ STLD traded down $3.16 on Thursday, reaching $202.63. The company had a trading volume of 130,828 shares, compared to its average volume of 1,355,077. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29. Steel Dynamics has a 1 year low of $103.17 and a 1 year high of $208.47. The firm has a 50-day moving average of $176.89 and a 200-day moving average of $154.30. The firm has a market capitalization of $29.59 billion, a PE ratio of 25.30, a P/E/G ratio of 0.54 and a beta of 1.46.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.10. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.62 billion. During the same period in the previous year, the company posted $1.36 earnings per share. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, equities research analysts anticipate that Steel Dynamics will post 9.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Steel Dynamics

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cornerstone Planning Group LLC lifted its stake in shares of Steel Dynamics by 1,636.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 180 shares during the period. Sound Income Strategies LLC lifted its position in Steel Dynamics by 1,500.0% in the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 150 shares during the period. Trust Co. of Toledo NA OH acquired a new stake in Steel Dynamics in the second quarter worth approximately $30,000. Rosenberg Matthew Hamilton boosted its stake in Steel Dynamics by 306.2% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 199 shares in the last quarter. Finally, Torren Management LLC acquired a new position in shares of Steel Dynamics during the 4th quarter valued at $34,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.