Steel Dynamics (NASDAQ:STLD) Upgraded at The Goldman Sachs Group

Steel Dynamics (NASDAQ:STLD) was upgraded by The Goldman Sachs Group to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other equities analysts have also recently issued reports on the stock. Weiss Ratings raised shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. BMO Capital Markets increased their price target on Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Barclays raised their price target on Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Wells Fargo & Company reduced their price objective on Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Finally, Citigroup upped their price objective on Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Steel Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $249.00.

Steel Dynamics Stock Down 2.8%

Shares of NASDAQ:STLD opened at $252.34 on Wednesday. The company’s fifty day moving average is $248.00 and its two-hundred day moving average is $213.15. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18. Steel Dynamics has a 1-year low of $119.89 and a 1-year high of $288.74. The stock has a market capitalization of $36.52 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 0.49 and a beta of 1.53.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.63 by $0.06. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The business had revenue of $6.09 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same period in the previous year, the business posted $2.01 EPS. The company’s quarterly revenue was up 33.4% on a year-over-year basis. Equities analysts anticipate that Steel Dynamics will post 17.16 EPS for the current year.

Insider Activity at Steel Dynamics

In other news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the sale, the senior vice president owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the transaction, the senior vice president owned 28,618 shares of the company’s stock, valued at approximately $6,699,759.98. This represents a 7.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Prosperity Bancshares Inc bought a new stake in shares of Steel Dynamics during the fourth quarter valued at about $25,000. MV Capital Management Inc. bought a new position in Steel Dynamics in the 4th quarter valued at about $27,000. Sound Income Strategies LLC increased its stake in Steel Dynamics by 1,500.0% during the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after buying an additional 150 shares during the period. Cedar Mountain Advisors LLC acquired a new position in Steel Dynamics during the 1st quarter valued at about $31,000. Finally, DV Equities LLC bought a new stake in shares of Steel Dynamics during the 4th quarter worth about $33,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.