STLD

Jefferies Initiates Coverage of Steel Dynamics (STLD) with Hold Recommendation

Fintel reports that on May 20, 2024, Jefferies initiated coverage of Steel Dynamics (NasdaqGS:STLD) with a Hold recommendation.

Analyst Price Forecast Suggests 3.47% Upside

As of May 8, 2024, the average one-year price target for Steel Dynamics is 137.70. The forecasts range from a low of 104.03 to a high of $173.25. The average price target represents an increase of 3.47% from its latest reported closing price of 133.08.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Steel Dynamics is 15,825MM, a decrease of 14.90%. The projected annual non-GAAP EPS is 7.41.

Steel Dynamics Declares $0.46 Dividend

On February 26, 2024 the company declared a regular quarterly dividend of $0.46 per share ($1.84 annualized). Shareholders of record as of March 31, 2024 received the payment on April 14, 2024. Previously, the company paid $0.42 per share.

At the current share price of 133.08 / share, the stocks dividend yield is {1}%.

The current dividend yield is 0.92 standard deviations below the historical average.

Additionally, the companys dividend payout ratio is {0}. The payout ratio tells us how much of a companys income is paid out in dividends. A payout ratio of one (1.0) means 100% of the companys income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The companys 3-Year dividend growth rate is {0}%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1,618 funds or institutions reporting positions in Steel Dynamics. This is an decrease of 4 owner(s) or 0.25% in the last quarter. Average portfolio weight of all funds dedicated to STLD is 0.26%, an increase of 4.31%. Total shares owned by institutions decreased in the last three months by 2.90% to 142,869K shares. STLD / Steel Dynamics, Inc. Put/Call Ratios The put/call ratio of STLD is 0.61, indicating a bullish outlook.

What are Other Shareholders Doing?

STLD / Steel Dynamics, Inc. Shares Held by Institutions

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,833K shares representing 3.08% ownership of the company. In its prior filing, the firm reported owning 4,905K shares , representing a decrease of 1.50%. The firm decreased its portfolio allocation in STLD by 3.02% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 3,718K shares representing 2.37% ownership of the company. In its prior filing, the firm reported owning 3,741K shares , representing a decrease of 0.63%. The firm decreased its portfolio allocation in STLD by 3.31% over the last quarter.

Geode Capital Management holds 3,706K shares representing 2.36% ownership of the company. In its prior filing, the firm reported owning 3,668K shares , representing an increase of 1.03%. The firm increased its portfolio allocation in STLD by 11.57% over the last quarter.

Royal London Asset Management holds 3,691K shares representing 2.35% ownership of the company. In its prior filing, the firm reported owning 3,633K shares , representing an increase of 1.57%. The firm increased its portfolio allocation in STLD by 11.14% over the last quarter.

Price T Rowe Associates holds 3,604K shares representing 2.29% ownership of the company. In its prior filing, the firm reported owning 3,452K shares , representing an increase of 4.22%. The firm decreased its portfolio allocation in STLD by 40.58% over the last quarter.

Steel Dynamics Background Information
(This description is provided by the company.)

Steel Dynamics is one of the largest domestic steel producers and metals recyclers in the United States, based on estimated annual steelmaking and metals recycling capability, with facilities located throughout the United States, and in Mexico. Steel Dynamics produces steel products, including hot roll, cold roll, and coated sheet steel, structural steel beams and shapes, rail, engineered special-bar-quality steel, cold finished steel, merchant bar products, specialty steel sections and steel joists and deck. In addition, the company produces liquid pig iron and processes and sells ferrous and nonferrous scrap.

Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.

Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.

Click to Learn More

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.