Steel Dynamics Inc. [STLD] Stock trading around $111.46 per share: What’s Next?

Steel Dynamics Inc. [NASDAQ: STLD] gained 4.93% or 5.24 points to close at $111.46 with a heavy trading volume of 3645368 shares. The company report on April 20, 2023 at 8:00 AM that Reminder: Steel Dynamics Announces First Quarter 2023 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, today announced it intends to release First Quarter 2023 financial results after market close on Wednesday, April 19, 2023. The teleconference is scheduled to begin at 10:00 a.m. Eastern Daylight Time on Thursday April 20, 2023 and will be hosted by Mark D. Millett, Chairman and Chief Executive Officer, and Theresa E. Wagler, Executive Vice President and Chief Financial Officer.

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To participate, please dial +1.973.528.0011 at least ten minutes before the start time and reference the Steel Dynamics First Quarter 2023 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 48103. The audio replay link will be available on the company’s website until 11:59 p.m. Eastern Daylight Time on April 26, 2023. An MP3 file of the event will be available on the company’s website that can be accessed for online replay or download.

It opened the trading session at $103.02, the shares rose to $115.12 and dropped to $103.02, the range by which the price of stock traded the whole day. The daily chart for STLD points out that the company has recorded 36.36% gains over the past six months. However, it is still -78.51% lower than its most recent low trading price.

If we look at the average trading volume of 1.91M shares, STLD reached to a volume of 3645368 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $116.02 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 3.00. 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.

BofA Securities have made an estimate for Steel Dynamics Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 05, 2023. The new note on the price target was released on March 15, 2023, representing the official price target for Steel Dynamics Inc. stock. Previously, the target price had yet another raise from $114 to $118, while Goldman kept a Neutral rating on STLD stock.

The Average True Range (ATR) for Steel Dynamics Inc. is set at 4.43, with the Price to Sales ratio for STLD stock in the period of the last 12 months amounting to 0.87. The Price to Book ratio for the last quarter was 2.39, with the Price to Cash per share for the same quarter was set at 13.06. Price to Free Cash Flow for STLD in the course of the last twelve months was 5.81 with Quick ratio for the last quarter at 2.20.

Trading performance analysis for STLD stock

Steel Dynamics Inc. [STLD] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.95. With this latest performance, STLD shares gained by 0.37% in over the last four-week period, additionally plugging by 36.36% over the last 6 months – not to mention a rise of 21.18% 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 52.98, with the RSI for the last a single of trading hit 59.43, and the three-weeks RSI is set at 50.54 for Steel Dynamics Inc. [STLD]. The present Moving Average for the last 50 days of trading for this stock 115.82, while it was recorded at 107.13 for the last single week of trading, and 96.84 for the last 200 days.

Steel Dynamics Inc. [STLD]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Steel Dynamics Inc. [STLD] shares currently have an operating margin of +22.77 and a Gross Margin at +25.22. Steel Dynamics Inc.’s Net Margin is presently recorded at +17.35.

Return on Total Capital for STLD is now 48.72, given the latest momentum, and Return on Invested Capital for the company is 37.45. Return on Equity for this stock inclined to 53.52, with Return on Assets sitting at 28.81. When it comes to the capital structure of this company, Steel Dynamics Inc. [STLD] has a Total Debt to Total Equity ratio set at 39.13. Additionally, STLD Total Debt to Total Capital is recorded at 28.12, with Total Debt to Total Assets ending up at 22.36. Long-Term Debt to Equity for the company is recorded at 38.19, with the Long-Term Debt to Total Capital now at 27.45.

Reflecting on the efficiency of the workforce at the company, Steel Dynamics Inc. [STLD] managed to generate an average of $320,288 per employee. Receivables Turnover for the company is 11.21 with a Total Asset Turnover recorded at a value of 1.66.Steel Dynamics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 3.80.

Steel Dynamics Inc. [STLD]: An earnings per share (EPS) analysis

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 28.06%.

An analysis of insider ownership at Steel Dynamics Inc. [STLD]

There are presently around $15,157 million, or 85.70% of STLD stock, in the hands of institutional investors. The top three institutional holders of STLD stocks are: VANGUARD GROUP INC with ownership of 21,822,262, which is approximately 11.487% of the company’s market cap and around 5.80% of the total institutional ownership; BLACKROCK INC., holding 17,084,669 shares of the stock with an approximate value of $1.81 billion in STLD stocks shares; and FMR LLC, currently with $924.52 million in STLD stock with ownership of nearly 4.798% of the company’s market capitalization.

Positions in Steel Dynamics Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 339 institutional holders increased their position in Steel Dynamics Inc. [NASDAQ:STLD] by around 18,513,536 shares. Additionally, 309 investors decreased positions by around 18,828,305 shares, while 76 investors held positions by with 105,352,138 shares. The mentioned changes placed institutional holdings at 142,693,979 shares, according to the latest SEC report filing. STLD stock had 123 new institutional investments in for a total of 2,776,288 shares, while 40 institutional investors sold positions of 1,455,981 shares during the same period.


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