Steel Dynamics (NASDAQ:STLD) PT Lowered to $135.00

Steel Dynamics (NASDAQ:STLD) had its price objective dropped by investment analysts at BMO Capital Markets from $140.00 to $135.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price target suggests a potential upside of 8.00% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Citigroup upped their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, Jefferies Financial Group initiated coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They issued a “hold” rating and a $150.00 target price for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $127.43.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $125.00 on Tuesday. Steel Dynamics has a 52-week low of $95.53 and a 52-week high of $151.34. The firm has a fifty day moving average of $132.56 and a 200-day moving average of $128.21. The firm has a market capitalization of $19.64 billion, a P/E ratio of 8.59 and a beta of 1.40. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the business earned $4.01 earnings per share. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, analysts predict that Steel Dynamics will post 12.14 EPS for the current year.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the transaction, the senior vice president now directly owns 60,415 shares in the company, valued at approximately $8,265,376.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Royal London Asset Management Ltd. increased its holdings in shares of Steel Dynamics by 0.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 3,745,326 shares of the basic materials company’s stock worth $401,574,000 after acquiring an additional 12,208 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Steel Dynamics by 4.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock worth $534,295,000 after acquiring an additional 152,254 shares during the period. Morgan Stanley increased its holdings in shares of Steel Dynamics by 0.8% in the 3rd quarter. Morgan Stanley now owns 2,612,430 shares of the basic materials company’s stock worth $280,105,000 after acquiring an additional 19,833 shares during the period. Northern Trust Corp increased its holdings in shares of Steel Dynamics by 6.4% in the 3rd quarter. Northern Trust Corp now owns 2,024,978 shares of the basic materials company’s stock worth $217,118,000 after acquiring an additional 122,507 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in shares of Steel Dynamics by 165.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock worth $212,447,000 after acquiring an additional 1,255,751 shares during the period. 82.41% of the stock is currently owned by institutional investors.

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.