Steel Dynamics, Inc. (NASDAQ:STLD) has earned an average rating of “Hold” from the fourteen research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $39.50.

A number of research analysts have recently issued reports on STLD shares. Citigroup set a $34.00 price objective on Steel Dynamics and gave the company a “buy” rating in a research note on Tuesday, June 11th. Deutsche Bank reissued a “hold” rating on shares of Steel Dynamics in a research note on Thursday, June 27th. Credit Suisse Group downgraded Steel Dynamics from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $38.00 to $29.00 in a research note on Thursday, May 23rd. Bank of America downgraded Steel Dynamics from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $30.00 to $34.00 in a research note on Wednesday, July 24th. Finally, BMO Capital Markets boosted their price objective on Steel Dynamics from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call.

Shares of NASDAQ STLD traded down $1.13 during trading on Wednesday, reaching $26.75. The company had a trading volume of 1,900,362 shares, compared to its average volume of 2,441,918. The company has a fifty day simple moving average of $30.29. Steel Dynamics has a 12 month low of $25.02 and a 12 month high of $48.17. The company has a market cap of $6.11 billion, a PE ratio of 4.87, a P/E/G ratio of 0.74 and a beta of 1.62. The company has a current ratio of 4.35, a quick ratio of 2.40 and a debt-to-equity ratio of 0.60.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Monday, July 22nd. The basic materials company reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02). The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. Steel Dynamics had a net margin of 9.11% and a return on equity of 28.50%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.53 EPS. As a group, sell-side analysts forecast that Steel Dynamics will post 3.19 EPS for the current year.

In other news, Director Gabriel Shaheen purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were acquired at an average cost of $27.03 per share, with a total value of $135,150.00. Following the purchase, the director now owns 58,635 shares in the company, valued at $1,584,904.05. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Russell B. Rinn purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average cost of $25.58 per share, for a total transaction of $51,160.00. Following the completion of the purchase, the insider now owns 220,459 shares in the company, valued at approximately $5,639,341.22. The disclosure for this purchase can be found here. Insiders bought a total of 12,740 shares of company stock worth $336,296 over the last three months. 4.90% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of STLD. State of Wisconsin Investment Board increased its holdings in Steel Dynamics by 18.7% during the 1st quarter. State of Wisconsin Investment Board now owns 604,609 shares of the basic materials company’s stock worth $21,325,000 after purchasing an additional 95,353 shares in the last quarter. Cetera Advisor Networks LLC bought a new stake in Steel Dynamics during the 1st quarter worth approximately $219,000. Cambridge Investment Research Advisors Inc. increased its holdings in Steel Dynamics by 4.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 22,804 shares of the basic materials company’s stock worth $804,000 after purchasing an additional 984 shares in the last quarter. Marshall Wace LLP increased its holdings in Steel Dynamics by 1,482.6% during the 1st quarter. Marshall Wace LLP now owns 593,892 shares of the basic materials company’s stock worth $20,947,000 after purchasing an additional 556,366 shares in the last quarter. Finally, Cerebellum GP LLC increased its holdings in Steel Dynamics by 14.9% during the 1st quarter. Cerebellum GP LLC now owns 9,496 shares of the basic materials company’s stock worth $335,000 after purchasing an additional 1,229 shares in the last quarter. 80.91% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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