The stock of Steel Dynamics, Inc. (NASDAQ:STLD) is a huge mover today! About 3.42 million shares traded hands or 14.77% up from the average. Steel Dynamics, Inc. (NASDAQ:STLD) has risen 11.81% since March 16, 2016 and is uptrending. It has outperformed by 6.27% the S&P500.
The move comes after 7 months positive chart setup for the $6.25 billion company. It was reported on Oct, 19 by Barchart.com. We have $39.45 PT which if reached, will make NASDAQ:STLD worth $3.50B more.
Steel Dynamics, Inc. (NASDAQ:STLD) Ratings Coverage
Out of 12 analysts covering Steel Dynamics Inc. (NASDAQ:STLD), 9 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 75% are positive. Steel Dynamics Inc. has been the topic of 31 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The rating was maintained by Citigroup on Wednesday, October 21 with “Buy”. The rating was upgraded by Berenberg to “Buy” on Tuesday, March 8. The firm has “Buy” rating by Citigroup given on Monday, August 22. The rating was maintained by Credit Suisse with “Outperform” on Wednesday, June 8. The rating was maintained by Cowen & Co on Wednesday, July 20 with “Outperform”. The rating was maintained by Deutsche Bank with “Buy” on Thursday, August 13. The stock has “Buy” rating given by Jefferies on Thursday, September 17. As per Wednesday, July 13, the company rating was maintained by Barclays Capital. Barclays Capital maintained the shares of STLD in a report on Tuesday, April 19 with “Overweight” rating. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) has “Hold” rating given on Tuesday, September 1 by TheStreet.
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 1.39 in 2016 Q2. Its down 0.08, from 1.47 in 2016Q1. The ratio worsened, 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, Art Advsr Limited Com has 0.2% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 167,048 shares. Raymond James And Assocs holds 448,658 shares or 0.03% of its portfolio. Calvert Invest Inc accumulated 35,022 shares or 0.04% of the stock. Wellington Grp Ltd Liability Partnership has invested 0.01% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). Moreover, Geode Mgmt Limited Liability Corporation has 0.03% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 1.98M shares. Nomura Asset Mngmt holds 4,650 shares or 0% of its portfolio. Moreover, Paloma Prtnrs Mgmt has 0.03% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 125,143 shares. North Point Managers Oh, a Ohio-based fund reported 8,300 shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Management accumulated 0.01% or 26,600 shares. Princeton Alpha Mgmt Lp last reported 0.2% of its portfolio in the stock. The Massachusetts-based Boston Private Wealth Limited Liability Company has invested 0.04% in Steel Dynamics, Inc. (NASDAQ:STLD). The Alabama-based Leavell Invest Management has invested 0.04% in Steel Dynamics, Inc. (NASDAQ:STLD). Fifth Third Retail Bank accumulated 0% or 3,536 shares. Moreover, Carlson Cap Limited Partnership has 0.17% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 571,400 shares. Nuveen Asset Mngmt Ltd Liability Company, a Illinois-based fund reported 412,775 shares.
Insider Transactions: Since July 25, 2016, the stock had 0 insider buys, and 2 selling transactions for $842,010 net activity. KOLB JURGEN DR had sold 17,900 shares worth $486,825. BUSSE KEITH E also sold $355,185 worth of Steel Dynamics, Inc. (NASDAQ:STLD) on Friday, July 29.
More notable recent Steel Dynamics, Inc. (NASDAQ:STLD) news were published by: Fool.com which released: “Why Are Investors Paying a Premium for Steel Dynamics, Inc.?” on September 27, 2016, also Forbes.com with their article: “Ex-Dividend Reminder: Actuant, Nucor and Steel Dynamics” published on September 26, 2016, Prnewswire.com published: “Steel Dynamics Announces Share Repurchase Program” on October 18, 2016. More interesting news about Steel Dynamics, Inc. (NASDAQ:STLD) were released by: Prnewswire.com and their article: “Steel Dynamics Announces Third Quarter 2016 Earnings Conference Call and Webcast” published on October 06, 2016 as well as Prnewswire.com‘s news article titled: “Steel Dynamics Agrees to Settle Antitrust Lawsuit” with publication date: October 18, 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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