Steel Dynamics (NASDAQ:STLD) Price Target Cut to $145.00 by Analysts at Citigroup

Steel Dynamics (NASDAQ:STLD) had its target price cut by investment analysts at Citigroup from $160.00 to $145.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the basic materials company’s stock. Citigroup’s price target would indicate a potential upside of 25.33% from the company’s current price.

A number of other research analysts have also weighed in on STLD. UBS Group restated a “neutral” rating and set a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. The Goldman Sachs Group began coverage on Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target for the company. Morgan Stanley decreased their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price target for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $144.25.

Steel Dynamics Stock Up 0.3 %

NASDAQ STLD opened at $115.69 on Thursday. Steel Dynamics has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The stock has a market cap of $17.61 billion, a PE ratio of 10.47 and a beta of 1.31. The stock’s 50 day moving average is $136.24 and its 200 day moving average is $127.58.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.47 earnings per share. Research analysts predict that Steel Dynamics will post 10.09 EPS for the current fiscal year.

Insider Buying and Selling at Steel Dynamics

In related news, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the completion of the sale, the vice president now directly owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. This trade represents a 10.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Miguel Alvarez sold 6,650 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares in the company, valued at $16,723,707. This trade represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,591 shares of company stock worth $3,885,938 over the last quarter. Insiders own 6.00% of the company’s stock.

Institutional Investors Weigh In On Steel Dynamics

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB bought a new position in Steel Dynamics in the 3rd quarter worth about $25,000. Innealta Capital LLC purchased a new stake in shares of Steel Dynamics in the second quarter valued at approximately $33,000. Private Trust Co. NA grew its stake in Steel Dynamics by 532.6% in the third 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 in the last quarter. Cullen Frost Bankers Inc. increased its holdings in Steel Dynamics by 33.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 100 shares during the period. Finally, HHM Wealth Advisors LLC bought a new stake in Steel Dynamics during the 2nd quarter valued at $52,000. 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.