Steel Dynamics (NASDAQ:STLD) Sets New 1-Year High at $148.59

Steel Dynamics, Inc. (NASDAQ:STLD) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $148.59 and last traded at $147.72, with a volume of 48351 shares changing hands. The stock had previously closed at $146.99.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on STLD shares. BMO Capital Markets upped their target price 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. Citigroup upped their target price on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $95.00 to $98.00 and gave the company an “underweight” rating in a research report on Tuesday, December 12th. Finally, UBS Group decreased their target price on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $118.13.

Steel Dynamics Stock Up 0.5 %

The stock has a market capitalization of $23.37 billion, a PE ratio of 10.07 and a beta of 1.41. The firm has a 50 day moving average of $127.60 and a two-hundred day moving average of $116.48. The company has a current ratio of 2.91, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.63 by ($0.02). Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same period in the previous year, the business earned $4.37 earnings per share. The business’s revenue for the quarter was down 12.3% on a year-over-year basis. Equities research analysts anticipate that Steel Dynamics, Inc. will post 11.63 earnings per share for the current year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st will be given a dividend of $0.46 per share. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $1.84 annualized dividend and a yield of 1.25%. Steel Dynamics’s dividend payout ratio (DPR) is presently 11.65%.

Hedge Funds Weigh In On Steel Dynamics

Hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB increased its position in Steel Dynamics by 1.1% during the fourth quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock worth $118,787,000 after buying an additional 11,026 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Steel Dynamics during the fourth quarter worth $14,762,000. Barclays PLC boosted its holdings in shares of Steel Dynamics by 3.1% during the third quarter. Barclays PLC now owns 363,518 shares of the basic materials company’s stock worth $38,975,000 after purchasing an additional 10,942 shares during the last quarter. AustralianSuper Pty Ltd boosted its holdings in shares of Steel Dynamics by 13.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 514,888 shares of the basic materials company’s stock worth $60,808,000 after purchasing an additional 59,668 shares during the last quarter. Finally, Summit Global Investments acquired a new stake in shares of Steel Dynamics during the third quarter worth $9,372,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Company Profile

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.