Steel Dynamics Inc. (STLD) Shares Down 1.5%
Steel Dynamics Inc. (NASDAQ:STLD) shares fell 1.5% on Friday . The stock traded as low as $24.26 and last traded at $24.34, with a volume of 1,321,890 shares changing hands. The stock had previously closed at $24.71.
Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Thursday, July 7th. Bank of America Corp. cut shares of Steel Dynamics from a “buy” rating to a “neutral” rating and set a $28.00 target price on the stock. in a report on Wednesday, July 20th. Rosenblatt Securities raised their target price on shares of Steel Dynamics from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, May 10th. Berenberg Bank reaffirmed a “buy” rating and set a $35.00 target price on shares of Steel Dynamics in a report on Tuesday, August 2nd. Finally, Citigroup Inc. assumed coverage on shares of Steel Dynamics in a report on Monday, August 22nd. They set a “buy” rating and a $33.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the stock. Steel Dynamics has an average rating of “Buy” and a consensus price target of $28.02.
The firm has a market cap of $5.93 billion and a P/E ratio of 496.33. The company has a 50-day moving average price of $25.92 and a 200 day moving average price of $24.00.
Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Monday, July 18th. The company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.02. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the company posted $0.22 earnings per share. Equities research analysts forecast that Steel Dynamics Inc. will post $2.10 EPS for the current year.
In related news, Director Jurgen Dr Kolb sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The shares were sold at an average price of $26.50, for a total transaction of $26,500.00. Following the sale, the director now owns 65,014 shares of the company’s stock, valued at approximately $1,722,871. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith E. Busse sold 13,155 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $27.00, for a total transaction of $355,185.00. Following the sale, the director now directly owns 1,006,894 shares in the company, valued at approximately $27,186,138. The disclosure for this sale can be found here.
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