Macquarie set a $36.00 price target on Steel Dynamics (NASDAQ:STLD) in a research report sent to investors on Tuesday, TipRanks reports. The firm currently has a hold rating on the basic materials company’s stock.

Other analysts have also issued reports about the stock. Goldman Sachs Group set a $44.00 price objective on shares of Steel Dynamics and gave the stock a buy rating in a report on Tuesday. Citigroup set a $40.00 price objective on shares of Steel Dynamics and gave the stock a buy rating in a report on Tuesday. BidaskClub lowered shares of Steel Dynamics from a sell rating to a strong sell rating in a report on Saturday, April 13th. ValuEngine lowered shares of Steel Dynamics from a sell rating to a strong sell rating in a report on Monday, April 1st. Finally, Credit Suisse Group upgraded shares of Steel Dynamics from a neutral rating to an outperform rating in a report on Tuesday, January 8th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Steel Dynamics presently has an average rating of Hold and a consensus price target of $46.64.

Shares of STLD opened at $32.82 on Tuesday. The company has a quick ratio of 2.13, a current ratio of 3.96 and a debt-to-equity ratio of 0.62. Steel Dynamics has a one year low of $28.91 and a one year high of $52.10. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 5.98, a P/E/G ratio of 0.71 and a beta of 1.39.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Monday, April 22nd. The basic materials company reported $0.91 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.91. Steel Dynamics had a net margin of 10.65% and a return on equity of 35.44%. The business had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the business posted $0.96 earnings per share. Steel Dynamics’s quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts predict that Steel Dynamics will post 3.99 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Sunday, March 31st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 2.93%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.19. The ex-dividend date was Friday, March 29th. Steel Dynamics’s dividend payout ratio (DPR) is presently 17.49%.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Steel Dynamics by 3.4% during the fourth quarter. BlackRock Inc. now owns 23,894,257 shares of the basic materials company’s stock valued at $717,782,000 after purchasing an additional 777,025 shares during the last quarter. Vanguard Group Inc increased its position in shares of Steel Dynamics by 4.3% during the third quarter. Vanguard Group Inc now owns 21,357,596 shares of the basic materials company’s stock valued at $965,150,000 after acquiring an additional 882,061 shares in the last quarter. Norges Bank bought a new stake in shares of Steel Dynamics during the fourth quarter valued at approximately $146,724,000. Dimensional Fund Advisors LP increased its position in shares of Steel Dynamics by 7.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,472,381 shares of the basic materials company’s stock valued at $134,353,000 after acquiring an additional 309,961 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Steel Dynamics by 2,996.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,061,799 shares of the basic materials company’s stock valued at $135,000 after acquiring an additional 3,930,619 shares in the last quarter. Hedge funds and other institutional investors own 82.55% of the company’s stock.

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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