Equities researchers at Macquarie started coverage on shares of Steel Dynamics, Inc. (NASDAQ:STLD) in a research note issued on Wednesday, Marketbeat.com reports. The brokerage set a “neutral” rating and a $36.00 price target on the basic materials company’s stock. Macquarie’s target price would suggest a potential upside of 5.23% from the company’s previous close.

A number of other brokerages have also commented on STLD. Clarkson Capital reissued a “neutral” rating on shares of Steel Dynamics in a report on Thursday, July 20th. Bank of America Corporation reissued a “buy” rating and set a $44.00 price objective (up from $42.00) on shares of Steel Dynamics in a report on Tuesday, September 5th. Zacks Investment Research lowered Steel Dynamics from a “buy” rating to a “hold” rating in a report on Thursday, May 25th. Berenberg Bank reissued a “buy” rating and set a $46.00 price objective on shares of Steel Dynamics in a report on Monday, June 19th. Finally, Credit Suisse Group raised Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 price objective for the company in a report on Wednesday, May 24th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Steel Dynamics presently has an average rating of “Buy” and a consensus target price of $40.22.

Steel Dynamics (NASDAQ STLD) traded up 0.62% on Wednesday, hitting $34.21. The company had a trading volume of 3,624,166 shares. The stock’s 50-day moving average price is $35.15 and its 200 day moving average price is $35.08. Steel Dynamics has a one year low of $22.79 and a one year high of $40.17. The company has a market capitalization of $8.21 billion, a P/E ratio of 15.71 and a beta of 1.26.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 EPS for the quarter, hitting analysts’ consensus estimates of $0.63. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.37 billion. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.58 EPS. On average, analysts expect that Steel Dynamics will post $2.83 EPS for the current fiscal year.

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In related news, insider Christopher A. Graham sold 5,021 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 26,778 shares in the company, valued at $1,018,902.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Keith E. Busse sold 4,965 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. IHT Wealth Management LLC lifted its stake in Steel Dynamics by 0.7% in the second quarter. IHT Wealth Management LLC now owns 407 shares of the basic materials company’s stock valued at $198,000 after purchasing an additional 3 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its stake in Steel Dynamics by 0.3% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 6,408 shares of the basic materials company’s stock valued at $229,000 after purchasing an additional 20 shares during the last quarter. Jaffetilchin Investment Partners LLC lifted its stake in 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 valued at $375,000 after purchasing an additional 65 shares during the last quarter. Advisory Services Network LLC lifted its stake in Steel Dynamics by 2.3% in the second quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock valued at $158,000 after purchasing an additional 101 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in 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 valued at $362,000 after purchasing an additional 154 shares during the last quarter. Institutional investors and hedge funds own 82.70% of the company’s stock.

About Steel Dynamics

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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