Steel Dynamics (NASDAQ:STLD) Given New $135.00 Price Target at BMO Capital Markets

Steel Dynamics (NASDAQ:STLD) had its price target cut by analysts at BMO Capital Markets from $140.00 to $135.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “market perform” rating on the basic materials company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 7.88% from the company’s current price.

STLD has been the subject of several other research reports. Jefferies Financial Group initiated coverage on Steel Dynamics in a report on Monday, May 20th. They issued a “hold” rating and a $150.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Finally, Citigroup lifted their price target on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and a consensus price target of $127.43.

Steel Dynamics Stock Down 1.1 %

Shares of STLD traded down $1.41 during midday trading on Tuesday, hitting $125.14. The stock had a trading volume of 216,705 shares, compared to its average volume of 1,176,436. The company has a 50 day simple moving average of $132.99 and a two-hundred day simple moving average of $128.18. Steel Dynamics has a twelve month low of $95.53 and a twelve month high of $151.34. The firm has a market cap of $19.66 billion, a price-to-earnings ratio of 8.59 and a beta of 1.40. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.54 by $0.13. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. Steel Dynamics’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $4.01 EPS. On average, analysts anticipate that Steel Dynamics will post 12.2 EPS for the current year.

Insider Activity

In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the completion of the sale, the senior vice president now directly owns 60,415 shares in the company, valued at $8,265,376.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Steel Dynamics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Atomi Financial Group Inc. lifted its stake in shares of Steel Dynamics by 3.1% in the 1st quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock valued at $395,000 after acquiring an additional 79 shares during the last quarter. Greenfield Savings Bank increased its holdings in Steel Dynamics by 0.7% in the first quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock valued at $1,731,000 after purchasing an additional 85 shares during the period. EverSource Wealth Advisors LLC increased its holdings in Steel Dynamics by 9.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock valued at $126,000 after purchasing an additional 88 shares during the period. Global Retirement Partners LLC increased its holdings in Steel Dynamics by 19.2% in the first quarter. Global Retirement Partners LLC now owns 570 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 92 shares during the period. Finally, Signaturefd LLC increased its holdings in Steel Dynamics by 0.9% in the fourth quarter. Signaturefd LLC now owns 10,698 shares of the basic materials company’s stock valued at $1,263,000 after purchasing an additional 93 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Company Profile

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.