Steel Dynamics (NASDAQ:STLD) Now Covered by Analysts at Jefferies Financial Group

Stock analysts at Jefferies Financial Group began coverage on shares of Steel Dynamics (NASDAQ:STLD) in a research note issued on Monday, Marketbeat.com reports. The firm set a “hold” rating and a $150.00 price target on the basic materials company’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 11.65% from the stock’s previous close.

Other research analysts also recently issued reports about the company. BMO Capital Markets boosted their price objective on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. UBS Group decreased their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. Finally, Citigroup upped their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Steel Dynamics currently has an average rating of “Hold” and a consensus price target of $125.29.

Steel Dynamics Stock Up 1.0 %

Steel Dynamics stock opened at $134.35 on Monday. Steel Dynamics has a one year low of $90.55 and a one year high of $151.34. The stock has a fifty day moving average of $138.85 and a 200 day moving average of $125.94. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.55 and a current ratio of 2.87. The stock has a market cap of $21.11 billion, a PE ratio of 9.23 and a beta of 1.47.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.54 by $0.13. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. Steel Dynamics’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $4.01 EPS. As a group, sell-side analysts predict that Steel Dynamics will post 12.36 EPS for the current year.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Christopher A. Graham sold 21,000 shares of Steel Dynamics stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the sale, the senior vice president now directly owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.10% of the company’s stock.

Institutional Investors Weigh In On Steel Dynamics

Several large investors have recently bought and sold shares of STLD. Larson Financial Group LLC bought a new stake in shares of Steel Dynamics in the 1st quarter worth about $25,000. LifeSteps Financial Inc. bought a new stake in Steel Dynamics during the first quarter worth approximately $26,000. CVA Family Office LLC purchased a new stake in Steel Dynamics during the fourth quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Steel Dynamics in the 4th quarter worth approximately $29,000. Finally, Lindbrook Capital LLC increased its position in shares of Steel Dynamics by 117.5% during the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 134 shares during the last quarter. 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.