Steel Dynamics, Inc. (STLD) Rating Reiterated by Jefferies Group LLC
Steel Dynamics, Inc. (NASDAQ:STLD)‘s stock had its “buy” rating reissued by Jefferies Group LLC in a research note issued on Saturday.
A number of other analysts have also weighed in on STLD. Zacks Investment Research raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and set a $38.00 price objective on the stock in a research report on Saturday, May 20th. Credit Suisse Group raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research report on Wednesday, May 24th. BidaskClub lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Saturday, June 17th. Longbow Research raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating in a research report on Monday, June 19th. Finally, Berenberg Bank reissued a “buy” rating and issued a $46.00 price objective on shares of Steel Dynamics in a research report on Monday, June 19th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $39.68.
Steel Dynamics (STLD) opened at 33.34 on Friday. Steel Dynamics has a 52 week low of $23.34 and a 52 week high of $40.17. The company has a market capitalization of $8.00 billion, a PE ratio of 15.31 and a beta of 1.26. The stock’s 50 day moving average price is $34.61 and its 200-day moving average price is $34.97.
Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.63. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the prior year, the company earned $0.58 EPS. The business’s revenue was up 18.1% compared to the same quarter last year. On average, equities research analysts predict that Steel Dynamics will post $2.79 earnings per share for the current fiscal year.
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In other Steel Dynamics news, Director Keith E. Busse sold 4,965 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the completion of the sale, the director now directly owns 1,005,666 shares in the company, valued at $38,637,687.72. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher A. Graham sold 5,021 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total transaction of $191,049.05. Following the completion of the sale, the insider now owns 26,778 shares of the company’s stock, valued at $1,018,902.90. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in STLD. BlackRock Inc. boosted its stake in Steel Dynamics by 11,858.1% in the first quarter. BlackRock Inc. now owns 20,091,806 shares of the basic materials company’s stock valued at $698,391,000 after acquiring an additional 19,923,788 shares in the last quarter. Steadfast Capital Management LP acquired a new stake in Steel Dynamics in the first quarter valued at approximately $81,408,000. Boston Partners boosted its stake in Steel Dynamics by 11.9% in the second quarter. Boston Partners now owns 16,383,812 shares of the basic materials company’s stock valued at $586,703,000 after acquiring an additional 1,742,242 shares in the last quarter. State Street Corp boosted its stake in Steel Dynamics by 17.9% in the second quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock valued at $317,162,000 after acquiring an additional 1,346,487 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Steel Dynamics by 73.9% in the first quarter. Principal Financial Group Inc. now owns 2,440,881 shares of the basic materials company’s stock valued at $84,845,000 after acquiring an additional 1,037,471 shares in the last quarter. Institutional investors own 82.70% of the company’s stock.
Steel Dynamics Company Profile
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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