Steel Dynamics (STLD) Upgraded to “Buy” at BidaskClub
Steel Dynamics (NASDAQ:STLD) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Tuesday.
Several other brokerages have also issued reports on STLD. Morgan Stanley set a $36.00 price objective on Steel Dynamics and gave the stock a “hold” rating in a report on Tuesday, October 24th. Bank of America increased their price objective on Steel Dynamics from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Cowen set a $43.00 price objective on Steel Dynamics and gave the stock a “buy” rating in a report on Friday, October 20th. Citigroup increased their price objective on Steel Dynamics from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Finally, KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a report on Friday, October 20th. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $41.70.
Shares of Steel Dynamics (NASDAQ STLD) traded down $0.06 during trading hours on Tuesday, hitting $40.64. The company had a trading volume of 2,117,593 shares, compared to its average volume of 3,074,154. The company has a current ratio of 3.35, a quick ratio of 1.95 and a debt-to-equity ratio of 0.80. Steel Dynamics has a twelve month low of $32.15 and a twelve month high of $41.10. The stock has a market capitalization of $9,643.94, a price-to-earnings ratio of 16.02, a price-to-earnings-growth ratio of 1.27 and a beta of 1.40.
A number of institutional investors have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC acquired a new position in Steel Dynamics during the third quarter worth $112,000. Public Employees Retirement System of Ohio increased its position in Steel Dynamics by 47.0% during the third quarter. Public Employees Retirement System of Ohio now owns 223,420 shares of the basic materials company’s stock worth $7,701,000 after buying an additional 71,461 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Steel Dynamics in the third quarter valued at about $233,000. Cetera Advisors LLC acquired a new stake in shares of Steel Dynamics in the third quarter valued at about $214,000. Finally, IFM Investors Pty Ltd acquired a new stake in shares of Steel Dynamics in the third quarter valued at about $214,000. 83.45% of the stock is currently owned by hedge funds and other 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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