Steel Dynamics, Inc. (NASDAQ:STLD)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group LLC in a research report issued to clients and investors on Saturday, July 22nd. They presently have a $43.00 target price on the basic materials company’s stock, up from their prior target price of $42.00. Jefferies Group LLC’s price objective would indicate a potential upside of 25.40% from the stock’s previous close. Jefferies Group also issued estimates for Steel Dynamics’ Q2 2017 earnings at $0.67 EPS, Q3 2017 earnings at $0.66 EPS, Q4 2017 earnings at $0.68 EPS, Q4 2017 earnings at $0.69 EPS, FY2017 earnings at $2.83 EPS and FY2018 earnings at $2.62 EPS.
Other analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Friday, April 21st. Longbow Research raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating in a report on Monday, June 19th. BMO Capital Markets reissued a “buy” rating and issued a $48.00 price target on shares of Steel Dynamics in a report on Monday, April 24th. Barclays PLC reaffirmed a “buy” rating and set a $43.00 price objective on shares of Steel Dynamics in a report on Monday, May 15th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a $46.00 price objective on shares of Steel Dynamics in a report on Monday, June 19th. Five equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Steel Dynamics has an average rating of “Buy” and an average target price of $40.59.
Steel Dynamics (NASDAQ STLD) traded down 0.75% during midday trading on Friday, hitting $34.29. 2,381,928 shares of the stock were exchanged. Steel Dynamics has a 52 week low of $22.79 and a 52 week high of $40.17. The firm’s 50-day moving average is $36.03 and its 200 day moving average is $35.21. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 15.75 and a beta of 1.23.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.63. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the prior year, the firm earned $0.58 EPS. The business’s revenue was up 18.1% on a year-over-year basis. Equities research analysts expect that Steel Dynamics will post $2.81 EPS for the current fiscal year.
In other Steel Dynamics news, Director Keith E. Busse sold 4,965 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the completion of the sale, the director now owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Christopher A. Graham sold 5,021 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total transaction of $191,049.05. Following the completion of the sale, the insider now owns 26,778 shares of the company’s stock, valued at approximately $1,018,902.90. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. IHT Wealth Management LLC boosted its stake in Steel Dynamics by 0.7% in the second quarter. IHT Wealth Management LLC now owns 407 shares of the basic materials company’s stock valued at $198,000 after buying an additional 3 shares during the last quarter. Sheaff Brock Investment Advisors LLC boosted its stake in Steel Dynamics by 0.3% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 6,408 shares of the basic materials company’s stock valued at $229,000 after buying an additional 20 shares during the last quarter. Jaffetilchin Investment Partners LLC boosted its stake in Steel Dynamics by 0.6% in the first quarter. Jaffetilchin Investment Partners LLC now owns 10,781 shares of the basic materials company’s stock valued at $375,000 after buying an additional 65 shares during the last quarter. Advisory Services Network LLC boosted its stake in Steel Dynamics by 2.3% in the second quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock valued at $158,000 after buying an additional 101 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in Steel Dynamics by 1.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 10,424 shares of the basic materials company’s stock valued at $362,000 after buying an additional 154 shares during the last quarter. Hedge funds and other institutional investors own 85.59% of the company’s stock.
Steel Dynamics Company Profile
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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