Shares of Steel Dynamics, Inc. (NASDAQ:STLD) have been assigned an average recommendation of “Buy” from the eighteen brokerages that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $46.82.
Several brokerages have recently issued reports on STLD. Credit Suisse Group lifted their price target on Steel Dynamics from $43.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. BidaskClub lowered Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 23rd. Jefferies Group reiterated a “buy” rating on shares of Steel Dynamics in a research note on Wednesday, January 24th. Cowen reiterated an “outperform” rating and issued a $60.00 price target (up previously from $53.00) on shares of Steel Dynamics in a research note on Wednesday, January 24th. Finally, BMO Capital Markets lifted their price target on Steel Dynamics to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th.
Shares of Steel Dynamics (NASDAQ STLD) traded down $1.58 on Friday, hitting $42.78. The stock had a trading volume of 2,756,355 shares, compared to its average volume of 2,527,191. Steel Dynamics has a one year low of $32.15 and a one year high of $48.28. The company has a debt-to-equity ratio of 0.74, a quick ratio of 2.29 and a current ratio of 4.04. The company has a market cap of $10,140.00, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 0.95 and a beta of 1.34.
A number of hedge funds have recently modified their holdings of STLD. State Street Corp grew its position in Steel Dynamics by 17.9% during the 2nd quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock worth $317,162,000 after acquiring an additional 1,346,487 shares during the last quarter. SG Capital Management LLC acquired a new position in Steel Dynamics during the 4th quarter worth about $36,928,000. Steadfast Capital Management LP lifted its holdings in Steel Dynamics by 27.3% during the 2nd quarter. Steadfast Capital Management LP now owns 2,982,256 shares of the basic materials company’s stock worth $106,795,000 after buying an additional 640,259 shares during the period. Boston Partners lifted its holdings in Steel Dynamics by 3.6% during the 3rd quarter. Boston Partners now owns 16,977,310 shares of the basic materials company’s stock worth $585,208,000 after buying an additional 593,498 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Steel Dynamics by 190.0% during the 2nd quarter. Renaissance Technologies LLC now owns 869,100 shares of the basic materials company’s stock worth $31,122,000 after buying an additional 569,400 shares during the period. Institutional investors and hedge funds own 83.79% of the company’s stock.
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About Steel Dynamics
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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