Steel Dynamics (NASDAQ:STLD) PT Raised to $130.00 at BMO Capital Markets

Steel Dynamics (NASDAQ:STLD) had its target price boosted by analysts at BMO Capital Markets from $127.00 to $130.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ target price indicates a potential upside of 0.44% from the company’s previous close.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley decreased their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating on the stock in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $142.86.

Steel Dynamics Trading Down 0.6 %

Shares of Steel Dynamics stock traded down $0.75 during trading on Thursday, reaching $129.43. The company’s stock had a trading volume of 239,744 shares, compared to its average volume of 1,261,274. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. Steel Dynamics has a 52-week low of $98.25 and a 52-week high of $151.34. The firm’s 50-day moving average is $119.42 and its two-hundred day moving average is $128.14. The company has a market cap of $19.97 billion, a price-to-earnings ratio of 8.89 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. The company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The firm’s revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.81 EPS. On average, sell-side analysts anticipate that Steel Dynamics will post 10.36 earnings per share for the current year.

Hedge Funds Weigh In On Steel Dynamics

A number of hedge funds have recently modified their holdings of the company. Larson Financial Group LLC bought a new stake in shares of Steel Dynamics during the 1st quarter valued at about $25,000. Innealta Capital LLC bought a new stake in shares of Steel Dynamics during the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Steel Dynamics during the 2nd quarter valued at about $41,000. Riverview Trust Co bought a new stake in shares of Steel Dynamics during the 1st quarter valued at about $50,000. Finally, Quarry LP boosted its stake in shares of Steel Dynamics by 583.9% during the 4th quarter. Quarry LP now owns 383 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 327 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

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.