Steel Dynamics’ (STLD) “Hold” Rating Reaffirmed at Deutsche Bank

Steel Dynamics (NASDAQ:STLD)‘s stock had its “hold” rating restated by equities research analysts at Deutsche Bank in a report issued on Thursday, June 27th, TipRanks reports.

A number of other brokerages have also recently commented on STLD. UBS Group set a $70.00 price objective on Lumentum and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Bank of America set a $77.00 price objective on Zscaler and gave the stock a “neutral” rating in a research note on Friday, May 31st. ValuEngine upgraded Zynerba Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Monday, April 1st. Goldman Sachs Group upgraded to a “buy” rating and set a GBX 1,180 ($15.42) price objective on the stock in a research note on Tuesday, June 4th. Finally, Credit Suisse Group upgraded Vipshop from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 23rd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Steel Dynamics currently has a consensus rating of “Buy” and an average price target of $42.54.

Shares of NASDAQ:STLD traded up $0.76 during midday trading on Thursday, reaching $31.47. The company’s stock had a trading volume of 2,335,984 shares, compared to its average volume of 2,652,120. The firm has a market cap of $6.99 billion, a price-to-earnings ratio of 5.73, a price-to-earnings-growth ratio of 0.82 and a beta of 1.55. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 4.02. Steel Dynamics has a 1 year low of $25.02 and a 1 year high of $49.70. The company’s 50 day moving average is $28.59.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, April 22nd. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.91. Steel Dynamics had a return on equity of 33.56% and a net margin of 10.26%. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the previous year, the business earned $0.96 earnings per share. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. Analysts expect that Steel Dynamics will post 3.2 EPS for the current year.

In related news, insider Russell B. Rinn bought 2,000 shares of the stock in a transaction dated Friday, May 31st. The stock was bought at an average cost of $25.58 per share, with a total value of $51,160.00. Following the completion of the acquisition, the insider now owns 220,459 shares of the company’s stock, valued at $5,639,341.22. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gabriel Shaheen bought 5,000 shares of the stock in a transaction dated Friday, May 24th. The shares were bought at an average cost of $27.03 per share, with a total value of $135,150.00. Following the completion of the acquisition, the director now directly owns 58,635 shares of the company’s stock, valued at approximately $1,584,904.05. The disclosure for this purchase can be found here. Insiders have acquired 12,740 shares of company stock worth $336,296 in the last 90 days. 4.90% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the company. Parallel Advisors LLC bought a new position in shares of Steel Dynamics during the first quarter valued at approximately $27,000. Ffcm LLC grew its holdings in Steel Dynamics by 59.3% in the 4th quarter. Ffcm LLC now owns 924 shares of the basic materials company’s stock worth $28,000 after buying an additional 344 shares in the last quarter. JOYN Advisors Inc. grew its holdings in Steel Dynamics by 34.7% in the 4th quarter. JOYN Advisors Inc. now owns 1,164 shares of the basic materials company’s stock worth $35,000 after buying an additional 300 shares in the last quarter. Aspire Private Capital LLC bought a new position in Steel Dynamics in the 4th quarter worth approximately $37,000. Finally, AdvisorNet Financial Inc bought a new position in Steel Dynamics in the 2nd quarter worth approximately $43,000. 81.70% of the stock is owned by institutional investors.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. 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; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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