Steel Dynamics (NASDAQ:STLD)‘s stock had its “buy” rating reaffirmed by equities researchers at Jefferies Group in a research note issued on Thursday, January 11th. They presently have a $53.00 price target on the basic materials company’s stock. Jefferies Group’s price objective indicates a potential upside of 20.05% from the company’s previous close. Jefferies Group also issued estimates for Steel Dynamics’ Q4 2017 earnings at $0.50 EPS, FY2017 earnings at $2.61 EPS, FY2018 earnings at $3.63 EPS and FY2019 earnings at $2.97 EPS.
Several other analysts have also commented on STLD. Zacks Investment Research raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. Longbow Research lowered shares of Steel Dynamics from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. ValuEngine lowered shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Citigroup lowered their price objective on shares of Steel Dynamics from $43.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, September 15th. Finally, Cowen set a $43.00 price target on shares of Steel Dynamics and gave the company a “buy” rating in a research report on Monday, December 18th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $46.64.
Shares of Steel Dynamics (STLD) traded down $1.41 during mid-day trading on Thursday, reaching $44.15. 2,210,523 shares of the company’s stock traded hands, compared to its average volume of 2,350,000. The company has a market capitalization of $10,460.00, a price-to-earnings ratio of 13.10, a price-to-earnings-growth ratio of 0.98 and a beta of 1.34. The company has a current ratio of 4.04, a quick ratio of 2.29 and a debt-to-equity ratio of 0.74. Steel Dynamics has a twelve month low of $32.15 and a twelve month high of $48.28.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank purchased a new position in Steel Dynamics during the second quarter valued at approximately $107,000. Steward Partners Investment Advisory LLC purchased a new position in Steel Dynamics during the third quarter valued at approximately $112,000. Hefty Wealth Partners grew its stake in Steel Dynamics by 76.1% during the third quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock valued at $118,000 after acquiring an additional 1,477 shares in the last quarter. Cubist Systematic Strategies LLC grew its stake in Steel Dynamics by 80.8% during the third quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock valued at $123,000 after acquiring an additional 1,589 shares in the last quarter. Finally, Cerebellum GP LLC purchased a new position in Steel Dynamics during the fourth quarter valued at approximately $132,000. 83.38% of the stock is currently owned by institutional investors.
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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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