Steel Dynamics (NASDAQ:STLD - Get Free Report) had its price target reduced by research analysts at Jefferies Financial Group from $145.00 to $125.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the basic materials company's stock. Jefferies Financial Group's price target suggests a potential upside of 5.36% from the company's current price.
A number of other analysts have also recently weighed in on STLD. Citigroup reduced their target price on shares of Steel Dynamics from $160.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They issued a "neutral" rating and a $155.00 price objective for the company. Bank of America raised Steel Dynamics from a "neutral" rating to a "buy" rating and upped their price target for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. lifted their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $141.13.
Get Our Latest Stock Report on STLD
Steel Dynamics Price Performance
Steel Dynamics stock traded up $5.49 during trading hours on Monday, hitting $118.64. 2,176,735 shares of the company traded hands, compared to its average volume of 1,866,745. Steel Dynamics has a 1-year low of $104.60 and a 1-year high of $155.56. The firm has a market cap of $18.06 billion, a P/E ratio of 10.74 and a beta of 1.36. The firm's 50-day simple moving average is $132.68 and its two-hundred day simple moving average is $126.84. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $4.18 billion. During the same quarter in the previous year, the company earned $3.47 earnings per share. The firm's quarterly revenue was down 5.4% compared to the same quarter last year. As a group, analysts forecast that Steel Dynamics will post 10.09 earnings per share for the current fiscal year.
Insider Buying and Selling at Steel Dynamics
In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the sale, the vice president now owns 17,100 shares of the company's stock, valued at $2,306,106. This trade represents a 10.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Glenn Pushis sold 17,941 shares of the 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 sale, the senior vice president now directly owns 146,693 shares of the company's stock, valued at $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,591 shares of company stock worth $3,885,938 over the last 90 days. Insiders own 6.00% of the company's stock.
Institutional Trading of Steel Dynamics
A number of institutional investors and hedge funds have recently modified their holdings of STLD. Holocene Advisors LP raised its holdings in shares of Steel Dynamics by 85.8% in the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company's stock valued at $289,400,000 after buying an additional 1,060,007 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of Steel Dynamics by 116.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company's stock valued at $128,434,000 after acquiring an additional 548,086 shares during the period. Nordea Investment Management AB increased its position in Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company's stock worth $158,487,000 after purchasing an additional 253,802 shares during the period. Skandinaviska Enskilda Banken AB publ raised its holdings in Steel Dynamics by 65.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company's stock worth $74,064,000 after purchasing an additional 225,832 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Steel Dynamics in the 2nd quarter valued at about $24,670,000. 82.41% of the stock is currently owned by institutional investors.
Steel Dynamics Company Profile
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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.
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