Steel Dynamics (NASDAQ:STLD) had its price target hoisted by equities research analysts at Morgan Stanley from $46.00 to $50.00 in a report issued on Tuesday, April 17th. The brokerage presently has an “equal weight” rating on the basic materials company’s stock. Morgan Stanley’s price target suggests a potential upside of 7.87% from the company’s current price.
Several other analysts have also issued reports on STLD. Zacks Investment Research upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. BidaskClub raised shares of Steel Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 4th. Jefferies Group reiterated a “buy” rating on shares of Steel Dynamics in a research report on Wednesday, January 24th. Deutsche Bank lifted their price target on shares of Steel Dynamics from $52.00 to $53.00 and gave the company a “buy” rating in a research report on Thursday, March 29th. Finally, ValuEngine upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Steel Dynamics has a consensus rating of “Buy” and an average price target of $50.00.
NASDAQ:STLD opened at $46.35 on Tuesday. The company has a market cap of $10,802.82, a P/E ratio of 16.39, a PEG ratio of 0.84 and a beta of 1.29. Steel Dynamics has a 52 week low of $32.20 and a 52 week high of $50.70. The company has a debt-to-equity ratio of 0.71, a current ratio of 4.24 and a quick ratio of 2.38.
A number of hedge funds and other institutional investors have recently modified their holdings of STLD. Lazard Asset Management LLC grew its stake in Steel Dynamics by 348.9% in the 4th quarter. Lazard Asset Management LLC now owns 6,556,430 shares of the basic materials company’s stock valued at $282,777,000 after acquiring an additional 5,096,015 shares during the last quarter. Millennium Management LLC lifted its holdings in Steel Dynamics by 163.0% in the 4th quarter. Millennium Management LLC now owns 1,935,141 shares of the basic materials company’s stock valued at $83,463,000 after purchasing an additional 1,199,224 shares in the last quarter. SG Capital Management LLC purchased a new position in Steel Dynamics in the 4th quarter valued at about $36,928,000. UBS Asset Management Americas Inc. lifted its holdings in Steel Dynamics by 125.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,431,743 shares of the basic materials company’s stock valued at $61,751,000 after purchasing an additional 797,142 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Steel Dynamics by 13.2% in the 3rd quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock valued at $159,217,000 after purchasing an additional 539,480 shares in the last quarter. 85.42% of the stock is currently owned by hedge funds and other institutional investors.
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Steel Dynamics Company Profile
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.
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