Steel Dynamics (NASDAQ:STLD) Upgraded at Wall Street Zen

Steel Dynamics (NASDAQ:STLD) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other equities analysts have also recently issued reports on the company. Wells Fargo & Company increased their price target on Steel Dynamics from $196.00 to $207.00 and gave the stock an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday. KeyCorp assumed coverage on Steel Dynamics in a report on Wednesday, March 25th. They set an “overweight” rating and a $190.00 price target on the stock. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Finally, Morgan Stanley restated an “underperform” rating and set a $190.00 price target on shares of Steel Dynamics in a report on Tuesday, March 17th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $185.11.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $200.32 on Friday. The business has a 50 day moving average of $185.69 and a 200-day moving average of $171.75. Steel Dynamics has a 1 year low of $112.72 and a 1 year high of $208.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29. The company has a market capitalization of $28.99 billion, a P/E ratio of 25.01, a P/E/G ratio of 0.52 and a beta of 1.39.

Steel Dynamics (NASDAQ:STLD) last released 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. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.36 EPS. On average, equities research analysts predict that Steel Dynamics will post 9.01 earnings per share for the current year.

Institutional Investors Weigh In On Steel Dynamics

A number of institutional investors and hedge funds have recently bought and sold shares of STLD. Prosperity Bancshares Inc purchased a new stake in Steel Dynamics in the 4th quarter valued at $25,000. Cornerstone Planning Group LLC raised its position in Steel Dynamics by 1,636.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock valued at $27,000 after buying an additional 180 shares during the last quarter. MV Capital Management Inc. purchased a new stake in Steel Dynamics in the 4th quarter valued at $27,000. Sound Income Strategies LLC raised its position in Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after buying an additional 150 shares during the last quarter. Finally, DV Equities LLC purchased a new stake in Steel Dynamics in the 4th quarter valued at $33,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

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.