Steel Dynamics (NASDAQ:STLD) received a $60.00 target price from investment analysts at Cowen in a note issued to investors on Monday. The brokerage currently has a “buy” rating on the basic materials company’s stock. Cowen’s price objective would indicate a potential upside of 38.79% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. ValuEngine cut shares of Steel Dynamics from a “buy” rating to a “hold” rating in a report on Wednesday, November 29th. Credit Suisse Group boosted their price target on shares of Steel Dynamics from $43.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. BidaskClub upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Tuesday, December 12th. Finally, Jefferies Group reiterated a “buy” rating and set a $53.00 price target on shares of Steel Dynamics in a report on Thursday, January 11th. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $46.64.

Steel Dynamics (NASDAQ:STLD) opened at $43.23 on Monday. The company has a current ratio of 4.04, a quick ratio of 2.29 and a debt-to-equity ratio of 0.74. Steel Dynamics has a twelve month low of $32.15 and a twelve month high of $48.28. The company has a market cap of $10,461.42, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 0.95 and a beta of 1.34.

Hedge funds have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board raised its position in Steel Dynamics by 8.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 544,861 shares of the basic materials company’s stock valued at $18,781,000 after purchasing an additional 41,400 shares during the last quarter. Global X MANAGEMENT CO LLC raised its position in Steel Dynamics by 21.3% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 15,728 shares of the basic materials company’s stock worth $542,000 after buying an additional 2,758 shares during the last quarter. APG Asset Management N.V. acquired a new position in shares of Steel Dynamics during the 3rd quarter worth $9,800,000. Prudential Financial Inc. grew its stake in shares of Steel Dynamics by 13.2% during the 3rd quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock worth $159,217,000 after purchasing an additional 539,480 shares during the period. Finally, BW Gestao de Investimentos Ltda. grew its stake in Steel Dynamics by 5.0% in the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 750,350 shares of the basic materials company’s stock valued at $26,870,000 after acquiring an additional 35,777 shares during the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

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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.

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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