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 report released on Tuesday, Marketbeat.com reports. KeyCorp currently has $155.00 target price on the basic materials company’s stock.

A number of other analysts also recently weighed in on STLD. StockNews.com downgraded Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. Citigroup decreased their target price on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. BMO Capital Markets raised their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Jefferies Financial Group upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and upped their target price for the stock from $125.00 to $145.00 in a research report on Friday, January 24th. Finally, UBS Group reiterated a “neutral” rating and set a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Steel Dynamics currently has a consensus rating of “Hold” and a consensus target price of $146.22.

Steel Dynamics Stock Up 1.5 %

STLD stock opened at $134.86 on Tuesday. The stock has a market capitalization of $20.53 billion, a PE ratio of 13.76 and a beta of 1.35. The company has a fifty day moving average of $123.68 and a 200-day moving average of $126.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. Steel Dynamics has a one year low of $104.60 and a one year high of $155.56.

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

Insider Buying and Selling

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction 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 sale, the senior vice president now owns 21,101 shares in the company, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.00% of the company’s stock.

Institutional Trading of Steel Dynamics

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

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.