Steel Dynamics (NASDAQ:STLD) has been assigned a $43.00 price objective by research analysts at Cowen in a research report issued on Monday. The brokerage currently has a “buy” rating on the basic materials company’s stock. Cowen’s target price would indicate a potential upside of 7.90% from the company’s previous close.
Several other analysts have also recently commented on the stock. Bank of America restated a “buy” rating and set a $44.00 price target (up from $42.00) on shares of Steel Dynamics in a report on Tuesday, September 5th. Jefferies Group restated a “buy” rating and set a $43.00 price target on shares of Steel Dynamics in a report on Thursday, August 31st. Macquarie initiated coverage on shares of Steel Dynamics in a report on Wednesday, September 6th. They set a “neutral” rating and a $36.00 price target for the company. Morgan Stanley set a $36.00 price target on shares of Steel Dynamics and gave the stock a “hold” rating in a report on Tuesday, October 24th. Finally, KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 price target 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 stock. Steel Dynamics presently has a consensus rating of “Buy” and an average target price of $41.70.
Shares of Steel Dynamics (STLD) opened at $39.85 on Monday. The company has a current ratio of 3.35, a quick ratio of 1.95 and a debt-to-equity ratio of 0.80. The company has a market cap of $9,442.54, a P/E ratio of 15.69, a P/E/G ratio of 1.25 and a beta of 1.40. Steel Dynamics has a fifty-two week low of $32.15 and a fifty-two week high of $41.66.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its position in shares of Steel Dynamics by 3,458.0% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 99,624 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 96,824 shares during the period. Toronto Dominion Bank bought a new position in shares of Steel Dynamics in the second quarter valued at approximately $107,000. Steward Partners Investment Advisory LLC bought a new position in shares of Steel Dynamics in the third quarter valued at approximately $112,000. DekaBank Deutsche Girozentrale raised its position in shares of Steel Dynamics by 181.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,496 shares of the basic materials company’s stock valued at $113,000 after purchasing an additional 2,896 shares during the period. Finally, Advantage Investment Management LLC raised its position 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 valued at $116,000 after purchasing an additional 950 shares during the period. Hedge funds and other institutional investors own 83.45% 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.
