Bank of America set a $51.00 target price on Steel Dynamics (NASDAQ:STLD) in a research note released on Monday morning. The firm currently has a buy rating on the basic materials company’s stock.

Other equities research analysts have also recently issued reports about the company. Cowen set a $43.00 price target on Steel Dynamics and gave the company a buy rating in a research report on Monday, December 18th. BidaskClub upgraded Steel Dynamics from a hold rating to a buy rating in a research report on Tuesday, December 12th. Citigroup upped their price target on Steel Dynamics from $41.00 to $42.00 and gave the company a buy rating in a research report on Friday, October 20th. KeyCorp reiterated a buy rating and set a $44.00 price target on shares of Steel Dynamics in a research report on Friday, November 24th. Finally, Jefferies Group reiterated a buy rating and set a $43.00 price target on shares of Steel Dynamics in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $42.64.

Shares of Steel Dynamics (STLD) traded down $0.86 on Monday, hitting $45.11. The stock had a trading volume of 3,128,167 shares, compared to its average volume of 2,737,433. Steel Dynamics has a 12-month low of $32.15 and a 12-month high of $46.32. The company has a market capitalization of $10,690.00, a PE ratio of 20.79, a PEG ratio of 1.26 and a beta of 1.40. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.95 and a current ratio of 3.35.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the business posted $0.64 earnings per share. The company’s revenue was up 16.3% on a year-over-year basis. equities analysts expect that Steel Dynamics will post 2.64 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Sunday, December 31st will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Thursday, December 28th. Steel Dynamics’s dividend payout ratio (DPR) is 28.57%.

Several hedge funds have recently bought and sold shares of STLD. Toronto Dominion Bank bought a new position in shares of Steel Dynamics in the second quarter worth approximately $107,000. Steward Partners Investment Advisory LLC bought a new position in shares of Steel Dynamics in the third quarter worth approximately $112,000. Hefty Wealth Partners increased its position in shares of Steel Dynamics by 76.1% in the third quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 1,477 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Steel Dynamics by 80.8% in the third quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 1,589 shares during the last quarter. Finally, Advisory Services Network LLC grew its position in Steel Dynamics by 2.3% during the second quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock valued at $158,000 after acquiring an additional 101 shares during the last quarter. Institutional investors own 83.38% of the company’s stock.

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About Steel Dynamics

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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