Steel Dynamics (NASDAQ:STLD) Upgraded at KeyCorp

KeyCorp upgraded shares of Steel Dynamics (NASDAQ:STLD) from a sector weight rating to an overweight rating in a report published on Tuesday, MarketBeat Ratings reports. KeyCorp currently has $155.00 price target on the basic materials company’s stock. KeyCorp also issued estimates for Steel Dynamics’ FY2025 earnings at $10.25 EPS and FY2026 earnings at $12.65 EPS.

A number of other research analysts have also weighed in on STLD. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Morgan Stanley lifted their price objective on shares of Steel Dynamics from $131.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target for the company. Citigroup reduced their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Jefferies Financial Group upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and boosted their price target for the company from $125.00 to $145.00 in a research report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Steel Dynamics has an average rating of “Hold” and a consensus price target of $146.22.

Steel Dynamics Stock Up 0.4 %

Steel Dynamics stock opened at $132.88 on Tuesday. Steel Dynamics has a 1-year low of $104.60 and a 1-year high of $155.56. The firm has a market capitalization of $20.23 billion, a price-to-earnings ratio of 13.56 and a beta of 1.35. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. The firm has a 50 day simple moving average of $123.38 and a 200 day simple moving average of $126.44.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same quarter in the previous year, the business earned $2.61 earnings per share. On average, analysts predict that Steel Dynamics will post 8.9 earnings per share for the current year.

Insider Transactions at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the completion of the sale, the senior vice president now directly owns 122,140 shares of the company’s stock, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Steel Dynamics

Hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new position in shares of Steel Dynamics during the 3rd quarter valued at $25,000. ORG Wealth Partners LLC purchased a new stake in Steel Dynamics during the fourth quarter valued at about $28,000. Private Trust Co. NA grew its stake in shares of Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after buying an additional 245 shares during the last quarter. IAG Wealth Partners LLC purchased a new position in shares of Steel Dynamics in the fourth quarter worth about $39,000. Finally, Avalon Trust Co purchased a new position in shares of Steel Dynamics in the fourth quarter worth about $42,000. 82.41% of the stock is currently owned by institutional investors.

About Steel Dynamics

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.