Steel Dynamics (NASDAQ:STLD) Price Target Cut to $127.00

Steel Dynamics (NASDAQ:STLD) had its price objective cut by stock analysts at BMO Capital Markets from $135.00 to $127.00 in a research report issued to clients and investors on Tuesday, MarketBeat reports. The firm currently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price target points to a potential upside of 10.32% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Bank of America lowered their target price on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Morgan Stanley lifted their target price on Steel Dynamics from $134.00 to $138.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Jefferies Financial Group started coverage on Steel Dynamics in a research note on Monday, May 20th. They issued a “hold” rating and a $150.00 target price for the company. JPMorgan Chase & Co. raised Steel Dynamics from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $120.00 to $131.00 in a research note on Monday, September 9th. Finally, UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $141.29.

Steel Dynamics Trading Up 0.6 %

Shares of STLD opened at $115.12 on Tuesday. The stock has a fifty day moving average price of $120.74 and a two-hundred day moving average price of $129.24. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. Steel Dynamics has a 52-week low of $98.03 and a 52-week high of $151.34. The company has a market cap of $18.09 billion, a price-to-earnings ratio of 7.91 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.05. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the previous year, the company posted $4.81 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. Analysts predict that Steel Dynamics will post 10.81 EPS for the current fiscal year.

Institutional Trading of Steel Dynamics

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

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.