Published On: Wed, Sep 21st, 2016

Credit Agricole SA Cuts Steel Dynamics Inc. (STLD) Price Target to $27.00

Steel Dynamics Inc. (NASDAQ:STLD) had its target price reduced by equities research analysts at Credit Agricole SA from $29.00 to $27.00 in a research report issued on Wednesday. The firm currently has a “market perform” rating on the stock. Credit Agricole SA’s target price points to a potential upside of 11.52% from the company’s previous close.
A number of other brokerages have also recently weighed in on STLD. Credit Suisse Group AG upped their price target on shares of Steel Dynamics from $27.00 to $33.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 8th. BMO Capital Markets reaffirmed an “outperform” rating and set a $30.00 price target on shares of Steel Dynamics in a research report on Friday, July 22nd. Zacks Investment Research cut shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Jefferies Group reaffirmed a “buy” rating and set a $31.00 price target (up from $28.00) on shares of Steel Dynamics in a research report on Friday, June 10th. Finally, Rosenblatt Securities initiated coverage on shares of Steel Dynamics in a research report on Wednesday, June 1st. They set a “buy” rating and a $21.00 price target for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $27.77.

Shares of Steel Dynamics (NASDAQ:STLD) opened at 24.21 on Wednesday. The firm has a market cap of $5.90 billion, a PE ratio of 494.08 and a beta of 1.70. Steel Dynamics has a 52-week low of $15.32 and a 52-week high of $28.01. The stock’s 50 day moving average price is $25.00 and its 200-day moving average price is $24.55.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/credit-agricole-sa-cuts-steel-dynamics-inc-stld-price-target-to-27-00.html

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Monday, July 18th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Steel Dynamics had a net margin of 0.17% and a return on equity of 10.79%. The firm earned $2.02 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same period in the prior year, the company earned $0.22 EPS. On average, equities research analysts anticipate that Steel Dynamics will post $2.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.14 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.56 annualized dividend and a dividend yield of 2.31%. Steel Dynamics’s payout ratio is currently 1,120.00%.
In other Steel Dynamics news, Director Jurgen Dr Kolb sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $26.50, for a total value of $26,500.00. Following the sale, the director now owns 65,014 shares in the company, valued at $1,722,871. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith E. Busse sold 13,155 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $27.00, for a total transaction of $355,185.00. Following the completion of the sale, the director now owns 1,006,894 shares in the company, valued at approximately $27,186,138. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in STLD. Norges Bank purchased a new stake in shares of Steel Dynamics during the fourth quarter valued at approximately $84,058,000. Aperio Group LLC boosted its position in Steel Dynamics by 24.8% in the first quarter. Aperio Group LLC now owns 66,815 shares of the company’s stock valued at $1,504,000 after buying an additional 13,283 shares during the period. Nisa Investment Advisors L.L.C. boosted its position in Steel Dynamics by 2.9% in the first quarter. Nisa Investment Advisors L.L.C. now owns 38,820 shares of the company’s stock valued at $874,000 after buying an additional 1,100 shares during the period. TIAA CREF Investment Management LLC boosted its position in Steel Dynamics by 32.7% in the first quarter. TIAA CREF Investment Management LLC now owns 2,368,036 shares of the company’s stock valued at $53,304,000 after buying an additional 584,195 shares during the period. Finally, Teachers Advisors Inc. boosted its position in Steel Dynamics by 29.7% in the first quarter. Teachers Advisors Inc. now owns 616,238 shares of the company’s stock valued at $13,872,000 after buying an additional 141,090 shares during the period. Institutional investors own 82.42% of the company’s stock.
About Steel Dynamics

Receive News & Ratings for Steel Dynamics Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Steel Dynamics Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>