Steel Dynamics Inc. (STLD) Shares Down 3.3%
Steel Dynamics Inc. (NASDAQ:STLD) was down 3.3% during trading on Friday . The company traded as low as $24.82 and last traded at $24.86, with a volume of 1,632,974 shares traded. The stock had previously closed at $25.70.
A number of equities research analysts have recently commented on STLD shares. Macquarie reaffirmed a “buy” rating on shares of Steel Dynamics in a research report on Saturday, April 23rd. Cowen and Company reiterated a “buy” rating on shares of Steel Dynamics in a report on Saturday, April 23rd. Jefferies Group reiterated a “buy” rating and set a $28.00 price objective (up from $25.50) on shares of Steel Dynamics in a report on Monday, April 25th. Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Wednesday, April 27th. Finally, Rosenblatt Securities increased their price objective on Steel Dynamics from $21.00 to $24.00 and gave the stock a “neutral” rating in a report on Tuesday, May 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $27.49.
The firm has a 50 day moving average of $26.33 and a 200-day moving average of $23.56. The stock has a market capitalization of $6.04 billion and a price-to-earnings ratio of 505.92.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, July 18th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period last year, the company posted $0.22 earnings per share. Equities analysts predict that Steel Dynamics Inc. will post $2.10 earnings per share for the current year.
In other news, Director Jurgen Dr Kolb sold 1,000 shares of the stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $26.50, for a total value of $26,500.00. Following the completion of the sale, the director now directly owns 65,014 shares of the company’s stock, valued at $1,722,871. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Keith E. Busse sold 13,155 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $27.00, for a total value of $355,185.00. Following the completion of the sale, the director now directly owns 1,006,894 shares of the company’s stock, valued at $27,186,138. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Steel Dynamics stock. Schroder Investment Management Group increased its stake in Steel Dynamics Inc. (NASDAQ:STLD) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,081,700 shares of the company’s stock after buying an additional 23,600 shares during the period. Schroder Investment Management Group owned approximately 0.45% of Steel Dynamics worth $19,330,000 as of its most recent SEC filing.
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