Steel Dynamics (NASDAQ:STLD) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Steel Dynamics (NASDAQ:STLD) was upgraded by Wall Street Zen from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts also recently weighed in on STLD. UBS Group set a $165.00 target price on shares of Steel Dynamics in a report on Tuesday, November 4th. Morgan Stanley reissued an “equal weight” rating and issued a $194.00 price objective (up previously from $173.00) on shares of Steel Dynamics in a research report on Friday, January 9th. Citigroup upped their target price on shares of Steel Dynamics from $150.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. The Goldman Sachs Group set a $172.00 target price on shares of Steel Dynamics and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. lifted their price target on Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics currently has a consensus rating of “Hold” and a consensus target price of $182.00.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $179.57 on Friday. The stock has a 50 day moving average price of $171.89 and a 200 day moving average price of $150.39. Steel Dynamics has a 52 week low of $103.17 and a 52 week high of $185.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.47 and a current ratio of 3.06. The stock has a market capitalization of $26.22 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 0.76 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.10. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.62 billion. During the same quarter in the previous year, the firm earned $1.36 EPS. The business’s quarterly revenue was up 14.0% on a year-over-year basis. Analysts predict that Steel Dynamics will post 9.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Steel Dynamics

Hedge funds have recently bought and sold shares of the stock. Optas LLC grew its position in shares of Steel Dynamics by 3.0% in the fourth quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock valued at $335,000 after purchasing an additional 58 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Steel Dynamics by 13.2% during the 3rd quarter. Versant Capital Management Inc now owns 548 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 64 shares during the last quarter. Wright Investors Service Inc. boosted its stake in Steel Dynamics by 1.2% in the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock valued at $941,000 after purchasing an additional 64 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Steel Dynamics by 4.1% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company’s stock valued at $246,000 after buying an additional 70 shares in the last quarter. Finally, Bartlett & CO. Wealth Management LLC grew its holdings in Steel Dynamics by 24.8% in the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 377 shares of the basic materials company’s stock valued at $53,000 after buying an additional 75 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

About Steel Dynamics

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.