Steel Dynamics (NASDAQ:STLD) Price Target Increased to $135.00 by Analysts at BMO Capital Markets

Steel Dynamics (NASDAQ:STLD) had its target price hoisted by investment analysts at BMO Capital Markets from $130.00 to $135.00 in a research note issued to investors on Friday, 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 downside of 0.59% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Morgan Stanley cut their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. cut their price target on Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and an average price target of $143.57.

Steel Dynamics Stock Up 0.6 %

Shares of STLD traded up $0.75 during trading hours on Friday, hitting $135.80. The stock had a trading volume of 336,375 shares, compared to its average volume of 1,261,462. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.35 and a quick ratio of 1.19. Steel Dynamics has a 1-year low of $98.25 and a 1-year high of $151.34. The firm has a 50 day simple moving average of $120.44 and a 200-day simple moving average of $127.60. The firm has a market capitalization of $20.95 billion, a P/E ratio of 10.91 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. Steel Dynamics’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.47 EPS. Sell-side analysts predict that Steel Dynamics will post 10.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in STLD. PNC Financial Services Group Inc. boosted its holdings in shares of Steel Dynamics by 12.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 16,872 shares of the basic materials company’s stock valued at $1,993,000 after purchasing an additional 1,917 shares during the period. CWM LLC lifted its holdings in shares of Steel Dynamics by 4.3% in the 1st quarter. CWM LLC now owns 4,456 shares of the basic materials company’s stock worth $661,000 after buying an additional 182 shares during the period. GAMMA Investing LLC grew its position in shares of Steel Dynamics by 9.9% during the 1st quarter. GAMMA Investing LLC now owns 1,614 shares of the basic materials company’s stock worth $239,000 after buying an additional 145 shares in the last quarter. Czech National Bank increased its stake in shares of Steel Dynamics by 0.5% during the first quarter. Czech National Bank now owns 26,763 shares of the basic materials company’s stock valued at $3,967,000 after buying an additional 122 shares during the period. Finally, Wedmont Private Capital purchased a new stake in Steel Dynamics in the first quarter worth about $231,000. Institutional investors own 82.41% of the company’s stock.

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.