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Steel Dynamics (NASDAQ:STLD - Get Rating) had its price objective lifted by research analysts at Citigroup to $110.00 in a research note issued to investors on Tuesday, Stock Target Advisor reports. Citigroup's target price points to a potential upside of 34.29% from the company's current price.
Several other analysts also recently issued reports on the stock. JPMorgan Chase & Co. reduced their price target on shares of Steel Dynamics from $129.00 to $110.00 in a research report on Tuesday, June 14th. Morgan Stanley lowered their target price on shares of Steel Dynamics from $94.00 to $78.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 6th. The Goldman Sachs Group downgraded Steel Dynamics from a "buy" rating to a "neutral" rating and cut their price target for the company from $114.00 to $92.00 in a research note on Tuesday, May 31st. Finally, UBS Group set a $95.00 price objective on Steel Dynamics in a research note on Monday, June 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $93.38.Steel Dynamics Trading Down 1.9 %
Shares of STLD stock traded down $1.58 during trading hours on Tuesday, hitting $81.91. 2,174,938 shares of the company were exchanged, compared to its average volume of 2,165,550. The company has a 50 day simple moving average of $76.47 and a two-hundred day simple moving average of $78.47. The firm has a market cap of $14.96 billion, a P/E ratio of 3.64 and a beta of 1.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.87 and a current ratio of 3.52. Steel Dynamics has a fifty-two week low of $50.54 and a fifty-two week high of $100.37.
Steel Dynamics (NASDAQ:STLD - Get Rating) last posted its quarterly earnings results on Wednesday, July 20th. The basic materials company reported $6.73 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.39. The firm had revenue of $6.21 billion during the quarter, compared to the consensus estimate of $5.93 billion. Steel Dynamics had a net margin of 19.81% and a return on equity of 71.50%. The business's revenue was up 39.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.40 earnings per share. Equities analysts anticipate that Steel Dynamics will post 21.33 EPS for the current year. Institutional Trading of Steel Dynamics
A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Steel Dynamics during the 4th quarter valued at $199,835,000. First Trust Advisors LP grew its position in Steel Dynamics by 183.6% during the first quarter. First Trust Advisors LP now owns 1,380,388 shares of the basic materials company's stock valued at $115,166,000 after buying an additional 893,705 shares during the period. BlackRock Inc. increased its holdings in Steel Dynamics by 3.2% during the first quarter. BlackRock Inc. now owns 25,820,456 shares of the basic materials company's stock worth $2,154,201,000 after buying an additional 801,335 shares during the last quarter. State Street Corp raised its position in Steel Dynamics by 9.5% in the first quarter. State Street Corp now owns 9,207,455 shares of the basic materials company's stock worth $771,198,000 after acquiring an additional 800,656 shares during the period. Finally, AQR Capital Management LLC raised its position in Steel Dynamics by 31.2% in the second quarter. AQR Capital Management LLC now owns 2,128,088 shares of the basic materials company's stock worth $137,751,000 after acquiring an additional 506,418 shares during the period. 80.36% of the stock is owned by hedge funds and other institutional investors. Steel Dynamics Company Profile (Get Rating)
Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.Featured StoriesGet a free copy of the StockNews.com research report on Steel Dynamics (STLD)This Is What To Expect From The S&P 500 NowThe Two Things You Need To Know About Oracle’s FQ1 ReportThree Value Stocks For A Volatile Market3 Energy Stocks Nearing Breakouts From Cup-Shaped PatternsDo These Dividend Achievers Deserve A Place In Your Portfolio?
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