Steel Dynamics (NASDAQ:STLD) Price Target Lowered to $129.00 at JPMorgan Chase & Co.

by · The Markets Daily

Steel Dynamics (NASDAQ:STLD – Free Report) had its target price cut by JPMorgan Chase & Co. from $131.00 to $129.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Several other equities research analysts have also weighed in on the company. Morgan Stanley lowered their price objective on Steel Dynamics from $138.00 to $131.00 and set an equal weight rating on the stock in a research note on Wednesday, September 18th. Bank of America upgraded Steel Dynamics from a neutral rating to a buy rating and upped their price objective for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. BMO Capital Markets lowered their price objective on Steel Dynamics from $135.00 to $127.00 and set a market perform rating on the stock in a research note on Tuesday, September 17th. Finally, UBS Group upgraded Steel Dynamics from a neutral rating to a buy rating and upped their price objective for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $142.86.

View Our Latest Analysis on Steel Dynamics

Steel Dynamics Trading Up 1.1 %

Shares of STLD opened at $129.86 on Wednesday. Steel Dynamics has a 12-month low of $98.25 and a 12-month high of $151.34. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $20.41 billion, a price-to-earnings ratio of 8.92 and a beta of 1.31. The stock’s 50-day moving average price is $119.64 and its 200 day moving average price is $127.93.

Steel Dynamics (NASDAQ:STLD – Get Free Report) last issued its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.05. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same period in the previous year, the company posted $4.81 earnings per share. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, research analysts predict that Steel Dynamics will post 10.15 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.42%. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

Institutional Investors Weigh In On Steel Dynamics

Large investors have recently bought and sold shares of the business. Larson Financial Group LLC acquired a new position in Steel Dynamics during the 1st quarter worth $25,000. Innealta Capital LLC acquired a new position in Steel Dynamics during the 2nd quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Steel Dynamics during the 2nd quarter worth $41,000. Riverview Trust Co acquired a new position in Steel Dynamics during the 1st quarter worth $50,000. Finally, Quarry LP lifted its holdings in Steel Dynamics by 583.9% during the 4th quarter. Quarry LP now owns 383 shares of the basic materials company’s stock worth $45,000 after buying an additional 327 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Company Profile

(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.

See Also