JPMorgan Chase & Co. Boosts Steel Dynamics (NASDAQ:STLD) Price Target to $205.00

Steel Dynamics (NASDAQ:STLD) had its target price lifted by analysts at JPMorgan Chase & Co. from $192.00 to $205.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 5.61% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Morgan Stanley reissued an “underperform” rating and issued a $190.00 target price on shares of Steel Dynamics in a report on Tuesday, March 17th. KeyCorp started coverage on Steel Dynamics in a report on Wednesday, March 25th. They issued an “overweight” rating and a $190.00 target price on the stock. Jefferies Financial Group reissued a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Wall Street Zen downgraded Steel Dynamics from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 29th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and a consensus target price of $185.11.

Steel Dynamics Trading Down 0.6%

Shares of NASDAQ:STLD opened at $194.11 on Tuesday. The company has a market cap of $28.09 billion, a P/E ratio of 24.23, a PEG ratio of 0.54 and a beta of 1.39. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29. Steel Dynamics has a 1 year low of $112.72 and a 1 year high of $208.47. The stock’s fifty day moving average price is $185.67 and its 200-day moving average price is $171.15.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.10. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.62 billion. During the same quarter in the prior year, the company earned $1.36 earnings per share. Steel Dynamics’s revenue was up 14.0% on a year-over-year basis. Sell-side analysts expect that Steel Dynamics will post 9.01 earnings per share for the current year.

Institutional Trading of Steel Dynamics

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jacobi Capital Management LLC increased its position in Steel Dynamics by 1.6% in the fourth quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock worth $599,000 after buying an additional 55 shares in the last quarter. Optas LLC increased its position in Steel Dynamics by 3.0% in the fourth quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock worth $335,000 after buying an additional 58 shares in the last quarter. Hohimer Wealth Management LLC increased its position in Steel Dynamics by 1.1% in the fourth quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock worth $967,000 after buying an additional 61 shares in the last quarter. Versant Capital Management Inc increased its position in Steel Dynamics by 13.2% in the third quarter. Versant Capital Management Inc now owns 548 shares of the basic materials company’s stock worth $76,000 after buying an additional 64 shares in the last quarter. Finally, Wright Investors Service Inc. increased its position in Steel Dynamics by 1.2% in the fourth quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock worth $941,000 after buying an additional 64 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

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.