Steel Dynamics (NASDAQ:STLD) PT Raised to $118.00

Steel Dynamics (NASDAQ:STLD) had its target price raised by investment analysts at JPMorgan Chase & Co. from $100.00 to $118.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “underweight” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 14.64% from the company’s current price.

Several other equities research analysts also recently weighed in on STLD. BMO Capital Markets increased their price target on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, March 18th. UBS Group cut their target price on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. Finally, Citigroup upped their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $120.29.

Steel Dynamics Stock Down 1.9 %

Steel Dynamics stock traded down $2.73 during mid-day trading on Tuesday, hitting $138.24. The company had a trading volume of 133,147 shares, compared to its average volume of 1,164,705. The stock has a market cap of $21.84 billion, a price-to-earnings ratio of 9.50 and a beta of 1.42. Steel Dynamics has a 1 year low of $90.55 and a 1 year high of $151.34. The business has a fifty day moving average of $135.07 and a 200 day moving average of $120.70. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.63 by ($0.02). The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.22 billion. Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. Steel Dynamics’s revenue was down 12.3% compared to the same quarter last year. During the same period in the previous year, the company posted $4.37 earnings per share. On average, sell-side analysts expect that Steel Dynamics will post 11.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Steel Dynamics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Greenfield Savings Bank increased its position in Steel Dynamics by 0.7% in the first quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock worth $1,731,000 after buying an additional 85 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Steel Dynamics by 9.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock valued at $126,000 after purchasing an additional 88 shares during the period. Signaturefd LLC lifted its stake in Steel Dynamics by 0.9% in the 4th quarter. Signaturefd LLC now owns 10,698 shares of the basic materials company’s stock worth $1,263,000 after acquiring an additional 93 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Steel Dynamics by 25.8% in the 4th quarter. Global Retirement Partners LLC now owns 478 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 98 shares in the last quarter. Finally, Wellington Shields & Co. LLC lifted its stake in Steel Dynamics by 50.0% in the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.