Steel Dynamics (NASDAQ:STLD) Rating Increased to Overweight at KeyCorp

Steel Dynamics (NASDAQ:STLD) was upgraded by stock analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research report issued on Tuesday,Briefing.com Automated Import reports. The firm currently has a $155.00 price objective on the basic materials company’s stock. KeyCorp’s price target would suggest a potential upside of 16.66% from the company’s previous close.

STLD has been the subject of several other research reports. Citigroup reduced their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. UBS Group reaffirmed a “neutral” rating and set a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Morgan Stanley lifted their price objective on shares of Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective on the stock. Finally, JPMorgan Chase & Co. cut their price objective on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $146.22.

Steel Dynamics Stock Up 4.9 %

Steel Dynamics stock opened at $132.87 on Tuesday. 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 52-week low of $104.60 and a 52-week high of $155.56. The firm has a 50 day moving average price of $123.85 and a two-hundred day moving average price of $126.33. The firm has a market cap of $20.23 billion, a price-to-earnings ratio of 13.56 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing the consensus estimate 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 in the prior year, the business posted $2.61 earnings per share. Equities analysts predict that Steel Dynamics will post 8.9 EPS for the current year.

Insider Buying and Selling

In related news, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the sale, the senior vice president now directly owns 116,949 shares in the company, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Steel Dynamics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harbour Capital Advisors LLC increased its position in shares of Steel Dynamics by 133.7% during the fourth quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock valued at $1,301,000 after buying an additional 6,579 shares during the period. Oak Thistle LLC bought a new stake in shares of Steel Dynamics during the fourth quarter valued at about $1,725,000. Foster & Motley Inc. increased its position in shares of Steel Dynamics by 8.0% in the fourth quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company’s stock worth $4,027,000 after purchasing an additional 2,602 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Steel Dynamics by 9,465.5% in the third quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock worth $2,376,000 after purchasing an additional 18,647 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after purchasing an additional 253,802 shares during the last quarter. 82.41% of the stock is currently owned by 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.