Steel Dynamics, Inc. (NASDAQ:STLD) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have been assigned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $146.22.

Several analysts recently weighed in on STLD shares. UBS Group restated a “neutral” rating and set a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price for the company in a report on Tuesday, February 11th. Citigroup decreased their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. dropped their price objective on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Finally, Morgan Stanley boosted their target price on shares of Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the completion of the sale, the senior vice president now owns 122,140 shares of the company’s stock, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Steel Dynamics

A number of institutional investors have recently modified their holdings of STLD. Toronto Dominion Bank lifted its holdings in Steel Dynamics by 7.9% in the fourth quarter. Toronto Dominion Bank now owns 80,609 shares of the basic materials company’s stock valued at $9,195,000 after buying an additional 5,922 shares during the period. Investment Management Corp VA ADV bought a new position in shares of Steel Dynamics in the 4th quarter worth about $40,000. Sunbelt Securities Inc. lifted its stake in shares of Steel Dynamics by 100.0% in the 4th quarter. Sunbelt Securities Inc. now owns 400 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 200 shares during the period. Vise Technologies Inc. boosted its position in shares of Steel Dynamics by 11.7% during the 4th quarter. Vise Technologies Inc. now owns 1,872 shares of the basic materials company’s stock valued at $214,000 after purchasing an additional 196 shares in the last quarter. Finally, City National Bank of Florida MSD acquired a new stake in Steel Dynamics during the fourth quarter worth approximately $365,000. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $136.76 on Thursday. The firm has a 50 day moving average of $123.45 and a 200-day moving average of $126.68. Steel Dynamics has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $20.82 billion, a PE ratio of 13.96, a PEG ratio of 1.06 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 EPS 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 last year, the company earned $2.61 EPS. On average, equities research analysts predict that Steel Dynamics will post 9.01 EPS for the current fiscal year.

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.