KeyCorp Upgrades Steel Dynamics (NASDAQ:STLD) to "Overweight"

KeyCorp upgraded shares of Steel Dynamics (NASDAQ:STLD - Free Report) from a sector weight rating to an overweight rating in a research report sent to investors on Tuesday, MarketBeat.com reports. They currently have $155.00 price target on the basic materials company's stock. KeyCorp also issued estimates for Steel Dynamics' FY2025 earnings at $10.25 EPS and FY2026 earnings at $12.65 EPS.

Several other analysts also recently issued reports on STLD. UBS Group restated 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. Morgan Stanley lifted their price objective on Steel Dynamics from $131.00 to $145.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Jefferies Financial Group raised Steel Dynamics from a "hold" rating to a "buy" rating and lifted their price objective for the company from $125.00 to $145.00 in a report on Friday, January 24th. JPMorgan Chase & Co. dropped their price objective on Steel Dynamics from $134.00 to $132.00 and set a "neutral" rating for the company in a report on Friday, January 17th. Finally, The Goldman Sachs Group started coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 price objective for the company. Six research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $146.22.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD traded up $3.11 during midday trading on Tuesday, hitting $135.99. 915,741 shares of the company's stock were exchanged, compared to its average volume of 1,813,585. The company's 50 day moving average price is $123.38 and its 200 day moving average price is $126.44. The firm has a market capitalization of $20.70 billion, a PE ratio of 13.88 and a beta of 1.35. Steel Dynamics has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same period in the prior year, the company earned $2.61 earnings per share. As a group, analysts predict that Steel Dynamics will post 8.9 earnings per share for the current fiscal year.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the sale, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. The trade was a 16.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Steel Dynamics

A number of hedge funds and other institutional investors have recently bought and sold shares of STLD. Livforsakringsbolaget Skandia Omsesidigt grew its position in Steel Dynamics by 350.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 900 shares of the basic materials company's stock worth $114,000 after acquiring an additional 700 shares during the last quarter. Ritholtz Wealth Management grew its position in Steel Dynamics by 63.8% during the 3rd quarter. Ritholtz Wealth Management now owns 4,317 shares of the basic materials company's stock worth $544,000 after acquiring an additional 1,682 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Steel Dynamics during the 3rd quarter worth $339,000. Thurston Springer Miller Herd & Titak Inc. grew its position in Steel Dynamics by 274.1% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,171 shares of the basic materials company's stock worth $148,000 after acquiring an additional 858 shares during the last quarter. Finally, Wedge Capital Management L L P NC grew its position in Steel Dynamics by 4.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 61,305 shares of the basic materials company's stock worth $7,729,000 after acquiring an additional 2,730 shares during the last quarter. 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.