JP Morgan lifts Steel Dynamics Inc. [STLD] price estimate. Who else is bullish?

Steel Dynamics Inc. [NASDAQ: STLD] closed the trading session at $59.15 on 07/22/21. The day’s price range saw the stock hit a low of $58.01, while the highest price level was $59.5796. The company report on July 20, 2021 that Reminder: Steel Dynamics Announces Second Quarter 2021 Earnings Conference Call and Webcast.

Steel Dynamics, Inc. (NASDAQ/GS: STLD), one of the largest domestic steel producers and metals recyclers in the United States, announced it intends to release second quarter 2021 financial results after market close on Monday, July 19, 2021. The teleconference is scheduled to begin at 10:00 a.m. Eastern Daylight Time on Tuesday July 20, 2021 and will be hosted by Mark D. Millett, Chairman, President and Chief Executive Officer, and Theresa E. Wagler, Executive Vice President and Chief Financial Officer.

To participate, please dial +1.201.689.8040 at least ten minutes before the start time and reference the Steel Dynamics First Quarter 2021 Earnings Call. The teleconference can also be accessed (in listen-only mode) by visiting the company’s website at Webcast participants are encouraged to log in prior to the 10:00 a.m. Eastern Daylight Time start to ensure connection before the beginning of the call. An audio replay version of the teleconference can be accessed by dialing +1.919.882.2331 and entering conference ID number 41901. The audio replay link will be available on the company’s website until 11:59 p.m. Eastern Daylight Time on July 26, 2021. An MP3 file of the event will be available on the company’s website that can be accessed for online replay or download.

The stocks have a year to date performance of 60.43 percent and weekly performance of -4.01 percent. The stock has been moved at 52.68 percent over the last six months. The stock has performed -1.65 percent around the most recent 30 days and changed 17.52 percent over the most recent 3-months.

If compared to the average trading volume of 2.38M shares, STLD reached to a volume of 1966309 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Steel Dynamics Inc. [STLD]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for STLD shares is $74.22 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on STLD stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Steel Dynamics Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on June 16, 2021. While these analysts kept the previous recommendation, BofA Securities raised their target price from $49 to $61. The new note on the price target was released on April 20, 2021, representing the official price target for Steel Dynamics Inc. stock. Previously, the target price had yet another raise to $57, while Goldman analysts kept a Buy rating on STLD stock.

The Average True Range (ATR) for Steel Dynamics Inc. is set at 2.42, with the Price to Sales ratio for STLD stock in the period of the last 12 months amounting to 1.22. The Price to Book ratio for the last quarter was 2.64.

STLD stock trade performance evaluation

Steel Dynamics Inc. [STLD] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.01. With this latest performance, STLD shares dropped by -1.65% in over the last four-week period, additionally plugging by 52.68% over the last 6 months – not to mention a rise of 113.38% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for STLD stock in for the last two-week period is set at 45.84, with the RSI for the last a single of trading hit 44.28, and the three-weeks RSI is set at 47.57 for Steel Dynamics Inc. [STLD]. The present Moving Average for the last 50 days of trading for this stock 61.59, while it was recorded at 59.10 for the last single week of trading, and 46.53 for the last 200 days.

Steel Dynamics Inc. [STLD]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Steel Dynamics Inc. [STLD] shares currently have an operating margin of +9.23 and a Gross Margin at +14.21. Steel Dynamics Inc.’s Net Margin is presently recorded at +5.74.

Return on Total Capital for STLD is now 12.30, given the latest momentum, and Return on Invested Capital for the company is 7.75. Return on Equity for this stock inclined to 13.08, with Return on Assets sitting at 6.45. When it comes to the capital structure of this company, Steel Dynamics Inc. [STLD] has a Total Debt to Total Equity ratio set at 73.48. Additionally, STLD Total Debt to Total Capital is recorded at 42.36, with Total Debt to Total Assets ending up at 34.24. Long-Term Debt to Equity for the company is recorded at 71.08, with the Long-Term Debt to Total Capital now at 40.97.

Reflecting on the efficiency of the workforce at the company, Steel Dynamics Inc. [STLD] managed to generate an average of $57,228 per employee. Receivables Turnover for the company is 10.57 with a Total Asset Turnover recorded at a value of 1.12.Steel Dynamics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.90.

Earnings per share (EPS) analysis for Steel Dynamics Inc. [STLD] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for STLD. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Steel Dynamics Inc. go to 4.26%.

Steel Dynamics Inc. [STLD]: Insider Ownership positions

There are presently around $10,097 million, or 84.30% of STLD stock, in the hands of institutional investors. The top three institutional holders of STLD stocks are: BLACKROCK INC. with ownership of 24,687,838, which is approximately 8.929% of the company’s market cap and around 5.00% of the total institutional ownership; VANGUARD GROUP INC, holding 19,880,341 shares of the stock with an approximate value of $1.18 billion in STLD stocks shares; and STATE STREET CORP, currently with $543.03 million in STLD stock with ownership of nearly 6.761% of the company’s market capitalization.

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Positions in Steel Dynamics Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 236 institutional holders increased their position in Steel Dynamics Inc. [NASDAQ:STLD] by around 20,254,321 shares. Additionally, 245 investors decreased positions by around 20,507,159 shares, while 54 investors held positions by with 129,936,844 shares. The mentioned changes placed institutional holdings at 170,698,324 shares, according to the latest SEC report filing. STLD stock had 78 new institutional investments in for a total of 4,005,218 shares, while 45 institutional investors sold positions of 2,550,793 shares during the same period.

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