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 released on Tuesday morning, MarketBeat Ratings reports. The brokerage 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.

STLD has been the topic of several other research reports. The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price target on the stock. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and raised their price target for the company from $125.00 to $145.00 in a research report on Friday, January 24th. JPMorgan Chase & Co. dropped their price target on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. StockNews.com cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $146.22.

Steel Dynamics Price Performance

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

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

Insiders Place Their Bets

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction that occurred 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 transaction, the senior vice president now owns 122,140 shares of the company’s stock, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.00% of the company’s stock.

Hedge Funds Weigh In On Steel Dynamics

Hedge funds have recently modified their holdings of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Steel Dynamics during the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $28,000. Private Trust Co. NA increased its stake in shares of Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 245 shares during the last quarter. IAG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $39,000. Finally, Avalon Trust Co purchased a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $42,000. 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.