Steel Dynamics (NASDAQ:STLD) Rating Increased to Overweight at KeyCorp

KeyCorp upgraded shares of Steel Dynamics (NASDAQ:STLD) from a sector weight rating to an overweight rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm currently has $155.00 target price on the basic materials company’s stock.

A number of other brokerages have also recently weighed in on STLD. The Goldman Sachs Group started coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price on the stock. UBS Group reaffirmed a “neutral” rating and issued a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and increased their target price for the stock from $125.00 to $145.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. reduced their price target on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Finally, BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and a consensus target price of $146.22.

Steel Dynamics Trading Up 1.5 %

NASDAQ STLD opened at $134.86 on Tuesday. The company has a market cap of $20.53 billion, a P/E ratio of 13.76 and a beta of 1.35. Steel Dynamics has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The company has a 50-day moving average of $123.68 and a 200-day moving average of $126.36.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the previous year, the company posted $2.61 EPS. As a group, equities analysts predict that Steel Dynamics will post 8.9 earnings per share for the current year.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the completion of the sale, the senior vice president now owns 21,101 shares in the company, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Steel Dynamics

A number of institutional investors have recently made changes to their positions in STLD. Wilmington Savings Fund Society FSB bought a new stake in shares of Steel Dynamics in the third quarter worth $25,000. ORG Wealth Partners LLC acquired a new position in Steel Dynamics during the 4th quarter worth $28,000. Private Trust Co. NA increased its position in shares of Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 245 shares during the last quarter. IAG Wealth Partners LLC acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at about $39,000. Finally, Avalon Trust Co bought a new position in shares of Steel Dynamics during the fourth quarter worth about $42,000. 82.41% of the stock is owned by institutional investors and hedge funds.

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.