The stock of Steel Dynamics, Inc. (NASDAQ:STLD) is a huge mover today! About 6.88M shares traded hands or 53.91% up from the average. Steel Dynamics, Inc. (NASDAQ:STLD) has risen 38.68% since April 20, 2016 and is uptrending. It has outperformed by 34.13% the S&P500.
The move comes after 5 months positive chart setup for the $8.75 billion company. It was reported on Nov, 22 by Barchart.com. We have $37.24 PT which if reached, will make NASDAQ:STLD worth $525.00M 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 35 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The rating was initiated by Citigroup with “Buy” on Monday, August 22. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) has “Buy” rating given on Wednesday, January 13 by Jefferies. Cowen & Co maintained Steel Dynamics, Inc. (NASDAQ:STLD) on Wednesday, October 21 with “Outperform” rating. On Wednesday, October 14 the stock rating was initiated by Berenberg with “Buy”. The stock has “Overweight” rating given by Barclays Capital on Wednesday, July 13. The stock has “Overweight” rating given by Barclays Capital on Monday, October 5. The stock has “Buy” rating given by Bank of America on Wednesday, October 26. On Tuesday, January 12 the stock rating was maintained by Barclays Capital with “Overweight”. Jefferies maintained the shares of STLD in a report on Thursday, September 17 with “Buy” rating. Rosenblatt maintained it with “Neutral” rating and $24 target price in Tuesday, May 10 report.
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 Q2 2016. Its down 0.48, from 1.39 in 2016Q1. The ratio fall, 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.
Federated Invsts Pa holds 0.01% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 156,262 shares. Raymond James Na reported 11,683 shares or 0.02% of all its holdings. Great West Life Assurance Can holds 0% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 28,827 shares. Ajo L P last reported 0.12% of its portfolio in the stock. Invesco Ltd holds 430,802 shares or 0% of its portfolio. Babson Capital Management Lc has invested 0.05% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). Jennison Assocs Ltd Liability Company has invested 0.02% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). Hbk Invs Ltd Partnership holds 480,618 shares or 0.1% of its portfolio. Lazard Asset Mgmt Lc last reported 94,027 shares in the company. The South Africa-based Old Mutual Customised Solutions (Proprietary) Ltd has invested 0.04% in Steel Dynamics, Inc. (NASDAQ:STLD). Utah Retirement holds 0.03% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 42,741 shares. Menta Cap last reported 53,282 shares in the company. Virginia Retirement Systems Et Al has 0.03% invested in the company for 73,200 shares. The New York-based Gideon Cap Advisors has invested 0.18% in Steel Dynamics, Inc. (NASDAQ:STLD). Johnson Fincl Grp has invested 0.01% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD).
Insider Transactions: Since July 25, 2016, the stock had 0 insider buys, and 3 sales for $896,670 net activity. Shares for $54,660 were sold by BUSSE KEITH E. KOLB JURGEN DR had sold 17,900 shares worth $486,825.
Another recent and important Steel Dynamics, Inc. (NASDAQ:STLD) news was published by Streetinsider.com which published an article titled: “Form 4 STEEL DYNAMICS INC For: Nov 21 Filed by: Wagler Theresa E” on November 22, 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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