Steel Dynamics, Inc. (NASDAQ:STLD) Given Average Recommendation of “Buy” by Brokerages
Steel Dynamics, Inc. (NASDAQ:STLD) has been given a consensus rating of “Buy” by the nineteen brokerages that are currently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $40.47.
A number of equities analysts recently commented on STLD shares. Clarkson Capital reiterated a “neutral” rating on shares of Steel Dynamics in a research report on Thursday, July 20th. Zacks Investment Research downgraded Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Thursday, May 25th. Berenberg Bank restated a “buy” rating and issued a $46.00 target price on shares of Steel Dynamics in a research report on Monday, June 19th. Credit Suisse Group upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 target price on the stock in a research report on Wednesday, May 24th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Steel Dynamics in a research report on Saturday, June 24th.
Shares of Steel Dynamics (NASDAQ:STLD) opened at 34.54 on Friday. The company’s 50-day moving average price is $35.88 and its 200 day moving average price is $35.22. Steel Dynamics has a 12-month low of $22.79 and a 12-month high of $40.17. The stock has a market cap of $8.29 billion, a price-to-earnings ratio of 15.87 and a beta of 1.23.
Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.63. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the business posted $0.58 earnings per share. The firm’s revenue was up 18.1% compared to the same quarter last year. On average, equities analysts predict that Steel Dynamics will post $2.83 earnings per share for the current year.
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In other news, insider Christopher A. Graham sold 5,021 shares of Steel Dynamics stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total value of $191,049.05. Following the completion of the sale, the insider now directly owns 26,778 shares of the company’s stock, valued at $1,018,902.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Keith E. Busse sold 4,965 shares of Steel Dynamics stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the completion of the sale, the director now directly owns 1,005,666 shares of the company’s stock, valued at $38,637,687.72. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Advantage Investment Management LLC boosted its stake in shares of Steel Dynamics by 39.6% in the first quarter. Advantage Investment Management LLC now owns 3,350 shares of the basic materials company’s stock worth $116,000 after buying an additional 950 shares during the last quarter. Washington Trust Bank boosted its position in Steel Dynamics by 48.8% in the second quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock valued at $122,000 after buying an additional 1,113 shares during the last quarter. James Investment Research Inc. bought a new position in Steel Dynamics during the first quarter valued at approximately $145,000. Advisory Services Network LLC bought a new position in Steel Dynamics during the first quarter valued at approximately $150,000. Finally, IFP Advisors Inc boosted its position in Steel Dynamics by 163.8% in the first quarter. IFP Advisors Inc now owns 4,366 shares of the basic materials company’s stock valued at $152,000 after buying an additional 2,711 shares during the last quarter. 84.05% of the stock is owned by institutional investors and hedge funds.
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.
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