Steel Dynamics, Inc. (NASDAQ:STLD) had its price objective decreased by equities research analysts at Citigroup Inc. from $43.00 to $41.00 in a report released on Friday. The brokerage presently has a “buy” rating on the basic materials company’s stock. Citigroup Inc.’s price objective suggests a potential upside of 22.98% from the company’s previous close.

Several other equities research analysts have also commented on STLD. Zacks Investment Research upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Saturday, May 20th. Credit Suisse Group upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 price target on the stock in a research note on Wednesday, May 24th. BidaskClub lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Saturday, June 17th. Longbow Research upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating in a research note on Monday, June 19th. Finally, Berenberg Bank reiterated a “buy” rating and set a $46.00 price target on shares of Steel Dynamics in a research note on Monday, June 19th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $39.68.

Steel Dynamics (STLD) opened at 33.34 on Friday. Steel Dynamics has a 52-week low of $23.34 and a 52-week high of $40.17. The company has a 50 day moving average price of $34.61 and a 200 day moving average price of $34.97. The firm has a market capitalization of $8.00 billion, a P/E ratio of 15.31 and a beta of 1.26.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period last year, the business earned $0.58 EPS. Steel Dynamics’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, equities analysts forecast that Steel Dynamics will post $2.79 EPS for the current fiscal year.

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In other news, Director Keith E. Busse sold 4,965 shares of Steel Dynamics stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the sale, the director now owns 1,005,666 shares of the company’s stock, valued at $38,637,687.72. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Christopher A. Graham sold 5,021 shares of Steel Dynamics stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total transaction of $191,049.05. Following the completion of the sale, the insider now directly owns 26,778 shares in the company, valued at approximately $1,018,902.90. The disclosure for this sale can be found here. 4.20% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. IHT Wealth Management LLC boosted its holdings in shares of Steel Dynamics by 0.7% in the second quarter. IHT Wealth Management LLC now owns 407 shares of the basic materials company’s stock valued at $198,000 after acquiring an additional 3 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its holdings in shares of Steel Dynamics by 0.3% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 6,408 shares of the basic materials company’s stock valued at $229,000 after acquiring an additional 20 shares in the last quarter. Advisory Services Network LLC boosted its holdings in shares of Steel Dynamics by 2.3% in the second quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock valued at $158,000 after acquiring an additional 101 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Steel Dynamics by 1.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 10,424 shares of the basic materials company’s stock valued at $362,000 after acquiring an additional 154 shares in the last quarter. Finally, Alpha Windward LLC boosted its holdings in shares of Steel Dynamics by 1.1% in the second quarter. Alpha Windward LLC now owns 14,244 shares of the basic materials company’s stock valued at $510,000 after acquiring an additional 154 shares in the last quarter. 82.70% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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