Steel Dynamics Inc. (STLD) Shares Down 1.5%
Steel Dynamics Inc. (NASDAQ:STLD)’s share price traded down 1.5% during trading on Friday . The company traded as low as $24.26 and last traded at $24.34, with a volume of 1,321,890 shares traded. The stock had previously closed at $24.71.
A number of equities analysts have recently commented on the company. Rosenblatt Securities assumed coverage on Steel Dynamics in a research report on Wednesday, June 1st. They set a “buy” rating and a $21.00 price objective for the company. Jefferies Group reissued a “buy” rating and set a $31.00 price objective (up from $28.00) on shares of Steel Dynamics in a research report on Friday, June 10th. Zacks Investment Research raised Steel Dynamics from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Tuesday, June 28th. Cowen and Company reissued a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, May 17th. Finally, Barclays PLC reissued an “overweight” rating and set a $28.00 price objective (up from $27.00) on shares of Steel Dynamics in a research report on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $28.02.
The firm has a market capitalization of $5.93 billion and a PE ratio of 496.33. The stock has a 50-day moving average of $25.97 and a 200-day moving average of $24.00.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Monday, July 18th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The business had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2.03 billion. On average, equities analysts expect that Steel Dynamics Inc. will post $2.10 EPS for the current fiscal year.
In other news, Director Keith E. Busse sold 13,155 shares of Steel Dynamics 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 transaction, the director now owns 1,006,894 shares in the company, valued at approximately $27,186,138. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jurgen Dr Kolb sold 17,900 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $27.20, for a total value of $486,880.00. Following the completion of the transaction, the director now owns 65,014 shares of the company’s stock, valued at approximately $1,768,380.80. The disclosure for this sale can be found here.
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