Steel Dynamics, Inc. (NASDAQ:STLD) Short Interest Update

Steel Dynamics, Inc. (NASDAQ:STLD) was the target of a large decrease in short interest in January. As of January 31st, there was short interest totalling 3,010,000 shares, a decrease of 18.6% from the January 15th total of 3,700,000 shares. Based on an average daily volume of 1,640,000 shares, the days-to-cover ratio is presently 1.8 days. Approximately 2.1% of the shares of the stock are sold short.

Steel Dynamics Trading Up 2.2 %

Shares of STLD stock opened at $135.83 on Friday. Steel Dynamics has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. The stock has a 50 day simple moving average of $123.36 and a two-hundred day simple moving average of $126.46. The company has a market cap of $20.68 billion, a P/E ratio of 13.86 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same quarter in the prior year, the business posted $2.61 earnings per share. Research analysts forecast that Steel Dynamics will post 8.9 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on STLD. BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Citigroup dropped their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. Morgan Stanley raised their target price on Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Finally, KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target on the stock in a research report on Tuesday, February 11th. Six investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $146.22.

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 23,649 shares of the business’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the sale, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. The trade was a 16.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.00% of the stock is owned by corporate insiders.

Institutional Trading of Steel Dynamics

Several large investors have recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new position in Steel Dynamics in the third quarter worth approximately $25,000. ORG Wealth Partners LLC bought a new position in shares of Steel Dynamics in the 4th quarter worth $28,000. Private Trust Co. NA grew its position in Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 245 shares during the period. IAG Wealth Partners LLC acquired a new stake in Steel Dynamics in the 4th quarter valued at $39,000. Finally, Avalon Trust Co bought a new stake in Steel Dynamics during the 4th quarter valued at $42,000. 82.41% of the stock is currently 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.