Steel Dynamics, Inc. (STLD) Rating Reiterated by Jefferies Group LLC
Steel Dynamics, Inc. (NASDAQ:STLD)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group LLC in a research report issued on Friday. They currently have a $43.00 price target on the basic materials company’s stock. Jefferies Group LLC’s price objective would indicate a potential upside of 19.74% from the stock’s current price.
Several other analysts also recently weighed in on STLD. Clarkson Capital reiterated a “neutral” rating on shares of Steel Dynamics in a research report on Thursday, July 20th. Deutsche Bank AG reiterated a “buy” rating on shares of Steel Dynamics in a research report on Saturday, June 24th. Longbow Research downgraded shares of Steel Dynamics from a “buy” rating to a “neutral” rating in a research report on Monday. BidaskClub downgraded shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $40.63.
Steel Dynamics (NASDAQ STLD) opened at 35.91 on Friday. The firm has a market capitalization of $8.61 billion, a price-to-earnings ratio of 16.50 and a beta of 1.29. The stock’s 50 day moving average is $34.16 and its 200-day moving average is $34.86. Steel Dynamics has a 52 week low of $23.34 and a 52 week high of $40.17.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.37 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. Steel Dynamics’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period last year, the firm posted $0.58 EPS. On average, equities research analysts expect that Steel Dynamics will post $2.71 EPS 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 that occurred on Tuesday, July 25th. The shares were 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 of the company’s stock, valued at approximately $1,018,902.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith E. Busse sold 4,965 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total transaction of $190,755.30. Following the completion of the transaction, the director now directly owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Toronto Dominion Bank acquired a new position in shares of Steel Dynamics in the 2nd quarter worth approximately $107,000. Hefty Wealth Partners grew its stake in shares of Steel Dynamics by 76.1% in the 3rd quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 1,477 shares during the last quarter. Washington Trust Bank grew its stake in shares of Steel Dynamics by 48.8% in the 2nd quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock worth $122,000 after purchasing an additional 1,113 shares during the last quarter. Advisory Services Network LLC grew its stake in shares of Steel Dynamics by 2.3% in the 2nd quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock worth $158,000 after purchasing an additional 101 shares during the last quarter. Finally, Creative Planning grew its stake in shares of Steel Dynamics by 36.3% in the 2nd quarter. Creative Planning now owns 4,718 shares of the basic materials company’s stock worth $169,000 after purchasing an additional 1,256 shares during the last quarter. 82.64% 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.
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