Steel Dynamics, Inc. (NASDAQ:STLD) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Steel Dynamics, Inc. (NASDAQ:STLD) has been given a consensus recommendation of “Moderate Buy” by the ten research firms that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $146.22.

Several research firms have commented on STLD. Jefferies Financial Group upgraded Steel Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the company from $125.00 to $145.00 in a research note on Friday, January 24th. Morgan Stanley increased their target price on shares of Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lowered their price target on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Finally, UBS Group reaffirmed a “neutral” rating and issued a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction dated 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. The trade was a 16.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Steel Dynamics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Steel Dynamics in the fourth quarter valued at about $336,426,000. Holocene Advisors LP boosted its holdings in Steel Dynamics by 85.8% in the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock valued at $289,400,000 after purchasing an additional 1,060,007 shares during the period. Capital Research Global Investors grew its position in shares of Steel Dynamics by 29.4% during the 4th quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company’s stock worth $409,816,000 after purchasing an additional 815,629 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Steel Dynamics by 116.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after purchasing an additional 548,086 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Steel Dynamics by 8.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company’s stock worth $642,033,000 after purchasing an additional 451,630 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD opened at $136.76 on Thursday. The firm has a market cap of $20.82 billion, a P/E ratio of 13.96, a PEG ratio of 1.06 and a beta of 1.35. Steel Dynamics has a twelve month low of $104.60 and a twelve month 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 firm’s 50 day moving average price is $123.45 and its two-hundred day moving average price is $126.68.

Steel Dynamics (NASDAQ:STLD) last posted 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 in the prior year, the firm earned $2.61 earnings per share. On average, analysts forecast that Steel Dynamics will post 9.01 EPS for the current fiscal year.

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.