Steel Dynamics (NASDAQ:STLD) Receives Hold (C) Rating from Weiss Ratings

Steel Dynamics (NASDAQ:STLD)‘s stock had its “hold (c)” rating restated by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued reports about the stock. Wells Fargo & Company lifted their price objective on shares of Steel Dynamics from $143.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, September 15th. Morgan Stanley lifted their price objective on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, June 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.78.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD opened at $146.55 on Wednesday. The firm has a market cap of $21.57 billion, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.16 and a beta of 1.40. The firm’s 50 day simple moving average is $132.47 and its 200-day simple moving average is $129.68. Steel Dynamics has a one year low of $103.17 and a one year high of $155.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.04). The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The business’s revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business posted $2.72 earnings per share. As a group, equities analysts predict that Steel Dynamics will post 9.01 EPS for the current year.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total value of $1,520,520.00. Following the completion of the sale, the senior vice president directly owned 66,738 shares in the company, valued at $8,456,371.98. This trade represents a 15.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Steel Dynamics

Several institutional investors have recently bought and sold shares of STLD. Financial Gravity Asset Management Inc. acquired a new stake in Steel Dynamics in the first quarter valued at approximately $25,000. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Steel Dynamics by 493.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock worth $25,000 after buying an additional 163 shares during the period. Trust Co. of Toledo NA OH acquired a new stake in shares of Steel Dynamics during the second quarter worth $30,000. Zions Bancorporation National Association UT acquired a new stake in shares of Steel Dynamics during the first quarter worth $32,000. Finally, WPG Advisers LLC acquired a new stake in shares of Steel Dynamics during the first quarter worth $32,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

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.