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Steel Dynamics (NASDAQ:STLD)’s share price hit a new 52-week high on Monday , AR Network reports. The stock traded as high as $21.96 and last traded at $21.81, with a volume of 1,260,614 shares changing hands. The stock had previously closed at $21.82.

A number of analysts have recently weighed in on STLD shares. Analysts at KeyCorp upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Monday, August 4th. They now have a $28.00 price target on the stock. Separately, analysts at Nomura reiterated a “buy” rating on shares of Steel Dynamics in a research note on Wednesday, July 23rd. They now have a $28.00 price target on the stock, up previously from $22.00. Finally, analysts at Deutsche Bank reiterated a “buy” rating on shares of Steel Dynamics in a research note on Wednesday, July 23rd. They now have a $23.50 price target on the stock, up previously from $21.50. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $22.52.

The stock’s 50-day moving average is $19.48 and its 200-day moving average is $18.09. The company has a market cap of $4.886 billion and a P/E ratio of 22.47.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Monday, July 21st. The company reported $0.31 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.32 by $0.01. The company had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.99 billion. During the same quarter in the prior year, the company posted $0.13 earnings per share. The company’s quarterly revenue was up 14.9% on a year-over-year basis. On average, analysts predict that Steel Dynamics will post $1.21 earnings per share for the current fiscal year.

Steel Dynamics, Inc is a steel producer and metals recycler in the United States. The Company operates in three segments: steel operations, metals recycling and ferrous resources operations, and steel fabrication operations.

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