Steel Dynamics (NASDAQ:STLD) Given New $145.00 Price Target at Citigroup

Steel Dynamics (NASDAQ:STLD - Get Free Report) had its price target reduced by research analysts at Citigroup from $160.00 to $145.00 in a report released on Thursday,Benzinga reports. The firm currently has a "buy" rating on the basic materials company's stock. Citigroup's price target points to a potential upside of 25.77% from the stock's current price.

A number of other equities research analysts have also recently commented on the stock. UBS Group restated a "neutral" rating and issued a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Morgan Stanley cut their price target on Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets increased their target price on Steel Dynamics from $130.00 to $135.00 and gave the stock a "market perform" rating in a report on Friday, October 18th. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Finally, Bank of America upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $144.25.

Steel Dynamics Trading Down 1.3 %

Shares of NASDAQ STLD traded down $1.47 during midday trading on Thursday, reaching $115.29. The stock had a trading volume of 1,847,566 shares, compared to its average volume of 1,291,686. The company's 50 day moving average price is $136.24 and its 200 day moving average price is $127.58. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. Steel Dynamics has a twelve month low of $104.60 and a twelve month high of $155.56. The firm has a market cap of $17.55 billion, a price-to-earnings ratio of 10.43 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping analysts' consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period last year, the business posted $3.47 EPS. The business's revenue was down 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that Steel Dynamics will post 10.09 EPS for the current year.

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 17,941 shares of the firm's stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the transaction, the senior vice president now directly owns 146,693 shares of the company's stock, valued at approximately $19,523,371.37. This trade represents a 10.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the sale, the senior vice president now owns 21,101 shares in the company, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,591 shares of company stock worth $3,885,938. Insiders own 6.00% of the company's stock.

Institutional Trading of Steel Dynamics

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Steel Dynamics in the third quarter worth $25,000. Innealta Capital LLC purchased a new stake in shares of Steel Dynamics in the 2nd quarter valued at about $33,000. Private Trust Co. NA boosted its position in shares of Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company's stock valued at $37,000 after acquiring an additional 245 shares during the last quarter. Cullen Frost Bankers Inc. grew its holdings in shares of Steel Dynamics by 33.3% during the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company's stock worth $52,000 after purchasing an additional 100 shares in the last quarter. Finally, HHM Wealth Advisors LLC bought a new position in shares of Steel Dynamics in the second quarter worth approximately $52,000. 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.