Steel Dynamics (NASDAQ:STLD) Price Target Cut to $127.00 by Analysts at BMO Capital Markets

Steel Dynamics (NASDAQ:STLD) had its target price dropped by stock analysts at BMO Capital Markets from $135.00 to $127.00 in a research report issued to clients and investors on Tuesday, Briefing.com reports. The firm presently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ target price points to a potential upside of 14.41% from the stock’s current price.

A number of other research firms have also weighed in on STLD. JPMorgan Chase & Co. upgraded shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $120.00 to $131.00 in a research note on Monday, September 9th. Bank of America cut their target price on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Jefferies Financial Group assumed coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They set a “hold” rating and a $150.00 target price on the stock. Morgan Stanley upped their price target on Steel Dynamics from $134.00 to $138.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Finally, UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price target for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $142.29.

Steel Dynamics Trading Down 0.0 %

Shares of STLD stock opened at $111.00 on Tuesday. The company’s 50-day moving average price is $120.93 and its 200-day moving average price is $129.38. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. The stock has a market cap of $17.44 billion, a price-to-earnings ratio of 7.62 and a beta of 1.32. Steel Dynamics has a twelve month low of $95.53 and a twelve month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.81 earnings per share. As a group, equities analysts predict that Steel Dynamics will post 10.81 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in STLD. Franklin Resources Inc. increased its position in Steel Dynamics by 12.0% during the 4th quarter. Franklin Resources Inc. now owns 344,569 shares of the basic materials company’s stock worth $40,694,000 after purchasing an additional 37,033 shares in the last quarter. Nordea Investment Management AB increased its position in Steel Dynamics by 2.5% during the 1st quarter. Nordea Investment Management AB now owns 1,034,133 shares of the basic materials company’s stock worth $153,290,000 after purchasing an additional 25,280 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Steel Dynamics by 1.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 17,321 shares of the basic materials company’s stock worth $2,046,000 after purchasing an additional 278 shares in the last quarter. Schroder Investment Management Group increased its position in Steel Dynamics by 15.3% during the 4th quarter. Schroder Investment Management Group now owns 743,697 shares of the basic materials company’s stock worth $87,831,000 after purchasing an additional 98,764 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Steel Dynamics by 1,498.4% during the 1st quarter. SG Americas Securities LLC now owns 29,730 shares of the basic materials company’s stock worth $4,407,000 after purchasing an additional 27,870 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

About Steel Dynamics

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.