The stock of Steel Dynamics, Inc. (NASDAQ:STLD) hit a new 52-week high and has $36.65 target or 3.00% above today’s $35.58 share price. The 5 months bullish chart indicates low risk for the $8.61 billion company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $36.65 price target is reached, the company will be worth $258.30 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 474,937 shares traded hands. Steel Dynamics, Inc. (NASDAQ:STLD) has risen 40.53% since April 27, 2016 and is uptrending. It has outperformed by 35.30% the S&P500.
Analysts await Steel Dynamics, Inc. (NASDAQ:STLD) to report earnings on January, 23. They expect $0.43 earnings per share, up 377.78% or $0.34 from last year’s $0.09 per share. STLD’s profit will be $104.06 million for 20.69 P/E if the $0.43 EPS becomes a reality. After $0.65 actual earnings per share reported by Steel Dynamics, Inc. for the previous quarter, Wall Street now forecasts -33.85% negative EPS growth.
Steel Dynamics, Inc. (NASDAQ:STLD) Ratings Coverage
Out of 13 analysts covering Steel Dynamics Inc. (NASDAQ:STLD), 9 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 69% are positive. $33 is the highest target while $21 is the lowest. The $26.38 average target is -25.86% below today’s ($35.58) stock price. Steel Dynamics Inc. has been the topic of 36 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) has “Buy” rating given on Monday, December 14 by Nomura. Cowen & Co maintained Steel Dynamics, Inc. (NASDAQ:STLD) on Wednesday, July 20 with “Outperform” rating. As per Wednesday, March 9, the company rating was maintained by Nomura. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) earned “Overweight” rating by Barclays Capital on Tuesday, January 12. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) earned “Outperform” rating by Credit Suisse on Wednesday, June 8. The firm has “Outperform” rating given on Friday, October 21 by Cowen & Co. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) earned “Neutral” rating by Bank of America on Wednesday, July 20. Barclays Capital maintained Steel Dynamics, Inc. (NASDAQ:STLD) on Monday, October 5 with “Overweight” rating. Rosenblatt downgraded the shares of STLD in a report on Monday, March 14 to “Neutral” rating. The rating was maintained by Credit Suisse with “Outperform” on Wednesday, March 23.
According to Zacks Investment Research, “Steel Dynamics, Inc. owns and operates a flat-rolled steel mini-mill. Steel Dynamics operates in the production and sale of hot-rolled and cold-rolled steel coils. The company’s customers consist of intermediate steel processors, steel service centers and end users including manufacturers of cold-rolled strip, oil and gas transmission pipe, and mechanical and structural tubing.”
Insitutional Activity: The institutional sentiment decreased to 0.91 in 2016 Q2. Its down 0.48, from 1.39 in 2016Q1. The ratio turned negative, as 38 funds sold all Steel Dynamics, Inc. shares owned while 104 reduced positions. 70 funds bought stakes while 128 increased positions. They now own 197.44 million shares or 4.76% more from 188.47 million shares in 2016Q1.
Moreover, Ubs Asset Mngmt Americas has 0.01% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 280,981 shares. Cantab Ptnrs Llp has invested 0% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). Moreover, Capstone Asset Management Co has 0.02% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 27,074 shares. Cadence Mngmt Ltd Liability owns 48,392 shares or 0.09% of their US portfolio. Morgan Stanley has invested 0.03% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). M&T Bank & Trust, a New York-based fund reported 17,707 shares. Jennison Assocs accumulated 643,408 shares or 0.02% of the stock. Shelton Cap has 23,032 shares for 0.05% of their US portfolio. Gotham Asset Mngmt Lc has invested 0.08% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). Catawba Capital Mngmt Va holds 0.11% or 18,708 shares in its portfolio. General Elec has invested 0.01% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). Regal Invest Advisors Limited Liability holds 0.25% or 36,577 shares in its portfolio. Whitnell holds 0% or 494 shares in its portfolio. Fmr Limited Liability Company holds 2.08M shares or 0.01% of its portfolio. Moreover, Hsbc Plc has 0.01% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 89,361 shares.
Insider Transactions: Since July 25, 2016, the stock had 0 insider purchases, and 3 insider sales for $896,670 net activity. Shares for $355,185 were sold by BUSSE KEITH E on Friday, July 29. The insider KOLB JURGEN DR sold 17,900 shares worth $486,825.
Another recent and important Steel Dynamics, Inc. (NASDAQ:STLD) news was published by Prnewswire.com which published an article titled: “Steel Dynamics Announces Offering of Notes” on November 29, 2016.
STLD Company Profile
Steel Dynamics, Inc., incorporated on June 16, 1994, is a steel producing and a metal recycling company. The Firm is engaged in manufacturing and selling of steel products, processing and selling of recycled ferrous and non-ferrous metals, and fabricating and selling of steel joist and deck products. The Company’s divisions include steel operations, metals recycling operations, steel fabrication activities and Other Operations. The Firm offers a range of steel products, which include sheet products, such as hot roll, cold roll and coated steel, including light gauge hot roll, galvanized and painted products; long products, such as structural steel beams, pilings, and various merchant-bar products, including rounds, angles, flats, channels and reinforcing bar, and steel fabrication products, including steel joists and steel deck material, including specialty deck. It offers an array of both ferrous and nonferrous scrap processing, scrap management, transportation, and brokerage services and products. The Firm also offers steel finishing and fabrication services.
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