UBS Group Reiterates “Neutral” Rating for Steel Dynamics (NASDAQ:STLD)

Steel Dynamics (NASDAQ:STLD)‘s stock had its “neutral” rating reaffirmed by research analysts at UBS Group in a research note issued on Thursday, Marketbeat reports. They presently have a $149.00 price objective on the basic materials company’s stock, up from their prior price objective of $145.00. UBS Group’s price objective would suggest a potential upside of 21.76% from the stock’s current price.

A number of other research analysts also recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley dropped their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, BMO Capital Markets upped their price objective on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $146.13.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $122.37 on Thursday. Steel Dynamics has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The company has a market capitalization of $18.63 billion, a PE ratio of 11.07 and a beta of 1.31. The company has a 50 day moving average price of $137.11 and a 200-day moving average price of $128.01. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. Steel Dynamics’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.47 EPS. As a group, equities analysts forecast that Steel Dynamics will post 10.1 earnings per share for the current year.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the sale, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at approximately $2,927,763.75. The trade was a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,591 shares of company stock worth $3,885,938. 6.00% of the stock is owned by insiders.

Institutional Trading of Steel Dynamics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Steel Dynamics in the third quarter worth about $25,000. Innealta Capital LLC purchased a new stake in Steel Dynamics in the second quarter valued at approximately $33,000. Private Trust Co. NA increased its holdings in Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after buying an additional 245 shares during the period. Cullen Frost Bankers Inc. raised its position in Steel Dynamics by 33.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after buying an additional 100 shares during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new stake in Steel Dynamics during the 2nd quarter valued at approximately $52,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.