Steel Dynamics (NASDAQ:STLD) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Steel Dynamics (NASDAQ:STLD) had its price target raised by research analysts at JPMorgan Chase & Co. from $138.00 to $150.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 16.41% from the company’s current price.

Other research analysts also recently issued reports about the stock. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 target price for the company in a research report on Monday, March 24th. BMO Capital Markets raised Steel Dynamics from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $135.00 to $145.00 in a report on Monday, March 31st. Morgan Stanley raised their target price on Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, June 20th. Finally, Wall Street Zen cut Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.33.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $128.86 on Monday. The business has a fifty day moving average of $131.66 and a 200 day moving average of $127.19. Steel Dynamics has a 1 year low of $103.17 and a 1 year high of $155.56. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.38. The firm has a market capitalization of $19.13 billion, a price-to-earnings ratio of 17.02, a price-to-earnings-growth ratio of 1.04 and a beta of 1.37.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.04. The firm had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.17 billion. Steel Dynamics had a return on equity of 13.26% and a net margin of 6.80%. During the same period last year, the business posted $3.67 earnings per share. As a group, research analysts expect that Steel Dynamics will post 9.01 earnings per share for the current year.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 7,495 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the transaction, the senior vice president directly owned 125,319 shares of the company’s stock, valued at $16,950,647.94. This trade represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gabriel Shaheen sold 1,254 shares of the company’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the transaction, the director owned 81,812 shares of the company’s stock, valued at approximately $10,971,807.32. This trade represents a 1.51% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Steel Dynamics

Several hedge funds and other institutional investors have recently made changes to their positions in STLD. Forum Financial Management LP raised its stake in Steel Dynamics by 2.5% in the 4th quarter. Forum Financial Management LP now owns 3,113 shares of the basic materials company’s stock valued at $355,000 after purchasing an additional 75 shares during the last quarter. Harbour Capital Advisors LLC grew its holdings in shares of Steel Dynamics by 0.5% during the second quarter. Harbour Capital Advisors LLC now owns 14,828 shares of the basic materials company’s stock worth $1,988,000 after buying an additional 80 shares in the last quarter. Hemington Wealth Management raised its position in shares of Steel Dynamics by 35.9% in the first quarter. Hemington Wealth Management now owns 318 shares of the basic materials company’s stock valued at $39,000 after buying an additional 84 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Steel Dynamics by 1.6% in the first quarter. Sequoia Financial Advisors LLC now owns 5,803 shares of the basic materials company’s stock worth $726,000 after buying an additional 91 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in shares of Steel Dynamics by 25.0% in the first quarter. Sunbelt Securities Inc. now owns 500 shares of the basic materials company’s stock worth $63,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

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.