Steel Dynamics, Inc. (NASDAQ:STLD - Get Free Report)'s share price reached a new 52-week high on Thursday . The stock traded as high as $148.59 and last traded at $147.72, with a volume of 48351 shares traded. The stock had previously closed at $146.99.
Analyst Ratings Changes
Several analysts recently weighed in on STLD shares. JPMorgan Chase & Co. upped their price target on Steel Dynamics from $95.00 to $98.00 and gave the stock an "underweight" rating in a research note on Tuesday, December 12th. UBS Group lowered their price objective 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. Citigroup upped their price objective on Steel Dynamics from $130.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, March 13th. Finally, BMO Capital Markets upped their price objective on Steel Dynamics from $110.00 to $120.00 and gave the company a "market perform" rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $118.13.
Check Out Our Latest Stock Report on Steel Dynamics
Steel Dynamics Trading Up 0.8 %
The stock has a fifty day moving average of $127.60 and a 200 day moving average of $116.48. The company has a market capitalization of $23.44 billion, a P/E ratio of 10.13 and a beta of 1.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.63 by ($0.02). Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The business had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter in the previous year, the company posted $4.37 EPS. The company's quarterly revenue was down 12.3% on a year-over-year basis. As a group, equities research analysts anticipate that Steel Dynamics, Inc. will post 11.63 EPS for the current fiscal year.
Steel Dynamics Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st will be given a dividend of $0.46 per share. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, March 27th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.24%. Steel Dynamics's dividend payout ratio (DPR) is presently 11.65%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the company. CVA Family Office LLC purchased a new position in shares of Steel Dynamics during the fourth quarter valued at about $28,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Steel Dynamics during the fourth quarter valued at about $29,000. Lindbrook Capital LLC grew its position in shares of Steel Dynamics by 117.5% during the fourth quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 134 shares in the last quarter. Wellington Shields & Co. LLC grew its position in shares of Steel Dynamics by 50.0% during the fourth quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 100 shares in the last quarter. Finally, Security National Bank purchased a new position in Steel Dynamics in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 82.41% of the company's stock.
About Steel Dynamics
(
Get Free Report)
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.
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