Steel Dynamics (STLD) Given a $60.00 Price Target by Cowen Analysts

Cowen set a $60.00 price objective on Steel Dynamics (NASDAQ:STLD) in a research note published on Monday. The firm currently has a buy rating on the basic materials company’s stock.

Several other research firms have also recently commented on STLD. BidaskClub upgraded Steel Dynamics from a buy rating to a strong-buy rating in a research note on Saturday, January 6th. KeyCorp set a $49.00 target price on Steel Dynamics and gave the company a buy rating in a research note on Wednesday, January 10th. Morgan Stanley set a $36.00 target price on Steel Dynamics and gave the company a hold rating in a research note on Tuesday, October 24th. Citigroup boosted their target price on Steel Dynamics from $41.00 to $42.00 and gave the company a buy rating in a research note on Friday, October 20th. Finally, Bank of America set a $51.00 target price on Steel Dynamics and gave the company a buy rating in a research note on Monday, January 8th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Steel Dynamics currently has a consensus rating of Buy and an average target price of $46.64.

Steel Dynamics (STLD) opened at $42.78 on Monday. Steel Dynamics has a 1-year low of $32.15 and a 1-year high of $48.28. The company has a current ratio of 4.04, a quick ratio of 2.29 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $10,140.00, a PE ratio of 12.69, a PEG ratio of 0.95 and a beta of 1.34.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Sunday, December 31st were given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend was Thursday, December 28th. Steel Dynamics’s dividend payout ratio (DPR) is 18.40%.

Several large investors have recently bought and sold shares of the business. Boston Partners increased its position in shares of Steel Dynamics by 3.6% during the 3rd quarter. Boston Partners now owns 16,977,310 shares of the basic materials company’s stock worth $585,208,000 after purchasing an additional 593,498 shares during the last quarter. State Street Corp increased its position in shares of Steel Dynamics by 17.9% during the 2nd quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock worth $317,162,000 after purchasing an additional 1,346,487 shares during the last quarter. Prudential Financial Inc. increased its position in shares of Steel Dynamics by 13.2% during the 3rd quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock worth $159,217,000 after purchasing an additional 539,480 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Steel Dynamics by 6.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,212,248 shares of the basic materials company’s stock worth $145,199,000 after purchasing an additional 247,077 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Steel Dynamics by 2.3% during the 3rd quarter. Van ECK Associates Corp now owns 2,816,748 shares of the basic materials company’s stock worth $97,093,000 after purchasing an additional 63,983 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

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Steel Dynamics Company Profile

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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