Steel Dynamics (NASDAQ:STLD) Price Target Raised to $118.00 at JPMorgan Chase & Co.

Steel Dynamics (NASDAQ:STLD - Get Free Report) had its target price hoisted by research analysts at JPMorgan Chase & Co. from $100.00 to $118.00 in a report released on Tuesday, Benzinga reports. The firm presently has an "underweight" rating on the basic materials company's stock. JPMorgan Chase & Co.'s target price indicates a potential downside of 15.58% from the company's current price.

Several other research firms have also commented on STLD. Citigroup raised their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, March 13th. BMO Capital Markets raised their price objective on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a "market perform" rating in a research note on Monday, March 18th. Finally, UBS Group decreased their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a "neutral" rating for the company in a research note on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Steel Dynamics has an average rating of "Hold" and a consensus target price of $120.29.

Steel Dynamics Trading Down 0.9 %

Shares of STLD traded down $1.20 during trading on Tuesday, reaching $139.77. 1,020,165 shares of the company traded hands, compared to its average volume of 1,177,489. Steel Dynamics has a twelve month low of $90.55 and a twelve month high of $151.34. The stock has a market cap of $22.08 billion, a PE ratio of 9.58 and a beta of 1.42. The stock has a 50-day simple moving average of $135.46 and a 200-day simple moving average of $120.92. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.63 by ($0.02). Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The business had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $4.22 billion. During the same period in the previous year, the business posted $4.37 EPS. The company's revenue for the quarter was down 12.3% compared to the same quarter last year. On average, analysts anticipate that Steel Dynamics will post 11.6 earnings per share for the current year.

Institutional Trading of Steel Dynamics

Institutional investors have recently modified their holdings of the stock. CVA Family Office LLC purchased a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $28,000. Wellington Shields & Co. LLC lifted its position in shares of Steel Dynamics by 50.0% during the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company's stock worth $29,000 after buying an additional 100 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $29,000. Lindbrook Capital LLC lifted its position in shares of Steel Dynamics by 117.5% during the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company's stock worth $29,000 after buying an additional 134 shares during the last quarter. Finally, Security National Bank purchased a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

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.