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Steel Dynamics (NASDAQ:STLD - Get Rating) had its price objective boosted by equities research analysts at BMO Capital Markets from $109.00 to $120.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a "market perform" rating on the basic materials company's stock. BMO Capital Markets' target price points to a potential downside of 1.19% from the stock's current price. Gas Cooker Hose

A number of other brokerages also recently issued reports on STLD. StockNews.com downgraded Steel Dynamics from a "buy" rating to a "hold" rating in a report on Thursday, November 24th. Morgan Stanley boosted their target price on shares of Steel Dynamics from $78.00 to $85.00 and gave the company an "equal weight" rating in a research report on Friday, October 21st. Bank of America began coverage on shares of Steel Dynamics in a research report on Wednesday, January 4th. They issued a "buy" rating for the company. UBS Group downgraded shares of Steel Dynamics from a "buy" rating to a "neutral" rating in a research report on Monday, December 5th. Finally, The Goldman Sachs Group downgraded shares of Steel Dynamics from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $114.00 to $118.00 in a research report on Friday. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $106.33.Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $121.44 on Friday. The stock has a market cap of $21.32 billion, a price-to-earnings ratio of 5.84 and a beta of 1.46. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.08 and a current ratio of 3.67. The stock has a 50 day moving average price of $105.23 and a 200-day moving average price of $89.51. Steel Dynamics has a one year low of $52.82 and a one year high of $121.76.

Steel Dynamics (NASDAQ:STLD - Get Rating) last announced its earnings results on Wednesday, January 25th. The basic materials company reported $4.37 EPS for the quarter, topping analysts' consensus estimates of $3.60 by $0.77. Steel Dynamics had a return on equity of 57.40% and a net margin of 17.35%. The firm had revenue of $4.83 billion during the quarter, compared to analysts' expectations of $4.77 billion. During the same quarter in the previous year, the business earned $5.78 EPS. The company's quarterly revenue was down 9.1% on a year-over-year basis. Equities analysts expect that Steel Dynamics will post 10.87 EPS for the current year.

Steel Dynamics announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 10th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the basic materials company to buy up to 8.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued. Insider Activity at Steel Dynamics

In related news, Director James C. Marcuccilli sold 2,500 shares of the company's stock in a transaction dated Friday, December 2nd. The shares were sold at an average price of $108.90, for a total transaction of $272,250.00. Following the completion of the sale, the director now owns 82,965 shares of the company's stock, valued at approximately $9,034,888.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.40% of the stock is owned by corporate insiders. Institutional Trading of Steel Dynamics

Hedge funds have recently made changes to their positions in the company. Armstrong Advisory Group Inc. purchased a new stake in shares of Steel Dynamics in the 4th quarter valued at approximately $40,000. First Horizon Advisors Inc. grew its stake in shares of Steel Dynamics by 70.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 464 shares of the basic materials company's stock valued at $30,000 after buying an additional 191 shares during the period. Clearstead Advisors LLC purchased a new stake in shares of Steel Dynamics in the 3rd quarter valued at approximately $35,000. Exos TFP Holdings LLC purchased a new stake in shares of Steel Dynamics in the 3rd quarter valued at approximately $42,000. Finally, Parkside Financial Bank & Trust grew its stake in shares of Steel Dynamics by 27.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 596 shares of the basic materials company's stock valued at $42,000 after buying an additional 128 shares during the period. Hedge funds and other institutional investors own 79.54% of the company's stock. About Steel Dynamics (Get Rating)

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.Further ReadingGet a free copy of the StockNews.com research report on Steel Dynamics (STLD)Microsoft’s Comeback Is Now UnderwayCan Amazon Recover Amid Tech Stock Sell-off?EVs, Robotics Among Growth Drivers As Chipmaker STMicro Gaps UpDoes Oil Services Firm NOV Have Enough Energy To Maintain Rally?Shopify Clears Cup-With-Handle Base: Can Momentum Continue?

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