Steel Dynamics, Inc. (STLD) Given Buy Rating at Jefferies Group LLC

Steel Dynamics, Inc. (NASDAQ:STLD)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group LLC in a research report issued to clients and investors on Saturday, July 22nd. They presently have a $43.00 target price on the basic materials company’s stock, up from their prior target price of $42.00. Jefferies Group LLC’s price objective would indicate a potential upside of 25.40% from the stock’s previous close. Jefferies Group also issued estimates for Steel Dynamics’ Q2 2017 earnings at $0.67 EPS, Q3 2017 earnings at $0.66 EPS, Q4 2017 earnings at $0.68 EPS, Q4 2017 earnings at $0.69 EPS, FY2017 earnings at $2.83 EPS and FY2018 earnings at $2.62 EPS.

Several other equities research analysts have also recently commented on STLD. Deutsche Bank AG reiterated a “buy” rating on shares of Steel Dynamics in a research report on Saturday, June 24th. Zacks Investment Research cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. BMO Capital Markets reiterated a “buy” rating and set a $48.00 price target on shares of Steel Dynamics in a research report on Monday, April 24th. Cowen and Company lifted their price target on shares of Steel Dynamics from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, April 24th. Finally, Berenberg Bank reiterated a “buy” rating and set a $46.00 price target on shares of Steel Dynamics in a research report on Monday, June 19th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $40.59.

Steel Dynamics (NASDAQ STLD) traded down 0.75% during midday trading on Friday, hitting $34.29. 2,381,928 shares of the stock were exchanged. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 15.75 and a beta of 1.23. The firm’s 50-day moving average is $36.03 and its 200 day moving average is $35.21. Steel Dynamics has a 52 week low of $22.79 and a 52 week high of $40.17.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 EPS for the quarter, hitting the consensus estimate of $0.63. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter in the previous year, the company earned $0.58 EPS. Steel Dynamics’s revenue was up 18.1% on a year-over-year basis. Equities research analysts expect that Steel Dynamics will post $2.81 EPS for the current fiscal year.

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In related news, insider Christopher A. Graham sold 5,021 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total transaction of $191,049.05. Following the transaction, the insider now directly owns 26,778 shares in the company, valued at $1,018,902.90. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Keith E. Busse sold 4,965 shares of the business’s stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total transaction of $190,755.30. Following the transaction, the director now owns 1,005,666 shares in the company, valued at $38,637,687.72. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Toronto Dominion Bank purchased a new position in shares of Steel Dynamics during the second quarter worth $107,000. Advantage Investment Management LLC increased its position in shares of Steel Dynamics by 39.6% in the first quarter. Advantage Investment Management LLC now owns 3,350 shares of the basic materials company’s stock worth $116,000 after buying an additional 950 shares during the last quarter. Washington Trust Bank increased its position in shares of Steel Dynamics by 48.8% in the second quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock worth $122,000 after buying an additional 1,113 shares during the last quarter. James Investment Research Inc. purchased a new position in shares of Steel Dynamics during the first quarter worth $145,000. Finally, Advisory Services Network LLC purchased a new position in shares of Steel Dynamics during the first quarter worth $150,000. Institutional investors and hedge funds own 85.59% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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