Steel Dynamics, Inc. (NASDAQ:STLD)‘s stock had its “buy” rating restated by investment analysts at Jefferies Group LLC in a research note issued on Saturday. They currently have a $43.00 price objective on the basic materials company’s stock, up from their prior price objective of $42.00. Jefferies Group LLC’s price objective indicates a potential upside of 14.64% from the company’s previous close.

STLD has been the subject of a number of other research reports. Credit Suisse Group AG upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 price target for the company in a research note on Wednesday, May 24th. Zacks Investment Research upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a research note on Friday, April 21st. BidaskClub upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Macquarie upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $38.00 to $44.00 in a research note on Monday, April 24th. Finally, Barclays PLC restated a “buy” rating and set a $43.00 price target on shares of Steel Dynamics in a research note on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the stock. Steel Dynamics presently has a consensus rating of “Buy” and an average price target of $39.66.

Steel Dynamics (NASDAQ STLD) traded down 0.48% on Friday, hitting $37.51. 2,629,628 shares of the stock traded hands. The stock has a 50-day moving average price of $35.13 and a 200 day moving average price of $35.27. Steel Dynamics has a 1-year low of $22.79 and a 1-year high of $40.17. The company has a market cap of $9.07 billion, a price-to-earnings ratio of 17.71 and a beta of 1.25.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, meeting the consensus estimate of $0.63. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.37 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. Steel Dynamics’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.58 EPS. On average, analysts anticipate that Steel Dynamics will post $2.79 EPS for the current fiscal year.

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Several institutional investors have recently modified their holdings of the company. Jaffetilchin Investment Partners LLC increased its position in shares of Steel Dynamics by 0.6% in the first quarter. Jaffetilchin Investment Partners LLC now owns 10,781 shares of the basic materials company’s stock worth $375,000 after buying an additional 65 shares during the period. M&T Bank Corp increased its position in shares of Steel Dynamics by 0.4% in the third quarter. M&T Bank Corp now owns 17,774 shares of the basic materials company’s stock worth $445,000 after buying an additional 67 shares during the period. Capstone Asset Management Co. increased its position in shares of Steel Dynamics by 0.3% in the second quarter. Capstone Asset Management Co. now owns 27,074 shares of the basic materials company’s stock worth $663,000 after buying an additional 71 shares during the period. OLD National Bancorp IN increased its position in shares of Steel Dynamics by 0.7% in the third quarter. OLD National Bancorp IN now owns 19,690 shares of the basic materials company’s stock worth $492,000 after buying an additional 131 shares during the period. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Steel Dynamics by 1.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 10,424 shares of the basic materials company’s stock worth $362,000 after buying an additional 154 shares during the period. 83.59% of the stock is currently owned by institutional investors.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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