Brokerages Set Steel Dynamics, Inc. (NASDAQ:STLD) Price Target at $146.22

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have been assigned an average rating of “Moderate Buy” from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $146.22.

A number of equities research analysts have issued reports on the company. UBS Group reaffirmed a “neutral” rating and set a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. JPMorgan Chase & Co. decreased their target price on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. The Goldman Sachs Group assumed coverage on Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price for the company. Finally, Morgan Stanley upped their target price on Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd.

Insider Activity

In related news, SVP Glenn Pushis sold 23,649 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total value of $3,184,810.83. Following the completion of the transaction, the senior vice president now directly owns 122,140 shares in the company, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Harbour Capital Advisors LLC raised its stake in shares of Steel Dynamics by 133.7% in the fourth quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock valued at $1,301,000 after purchasing an additional 6,579 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Steel Dynamics in the fourth quarter valued at $1,725,000. Foster & Motley Inc. raised its stake in shares of Steel Dynamics by 8.0% in the fourth quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company’s stock valued at $4,027,000 after purchasing an additional 2,602 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Steel Dynamics by 9,465.5% in the third quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock valued at $2,376,000 after purchasing an additional 18,647 shares in the last quarter. Finally, Nordea Investment Management AB raised its stake in Steel Dynamics by 22.4% during the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after acquiring an additional 253,802 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Trading Down 3.2 %

Shares of NASDAQ STLD opened at $130.71 on Thursday. The stock has a market cap of $19.90 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.05 and a beta of 1.35. The business has a 50 day simple moving average of $123.78 and a 200 day simple moving average of $126.83. Steel Dynamics has a 52 week low of $104.60 and a 52 week 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.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results 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 period in the prior year, the firm posted $2.61 earnings per share. On average, research analysts predict that Steel Dynamics will post 9.01 earnings per share 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.