Seaport Global analyst Martin Englert maintained a Buy rating on Steel Dynamics (STLD – Research Report) today and set a price target of $135.00. The company’s shares closed yesterday at $129.92.
Englert covers the Basic Materials sector, focusing on stocks such as Schnitzer Steel Industries, Ferroglobe, and Nucor. According to TipRanks, Englert has an average return of -3.5% and a 56.41% success rate on recommended stocks.
Currently, the analyst consensus on Steel Dynamics is a Hold with an average price target of $116.57.
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The company has a one-year high of $137.70 and a one-year low of $89.51. Currently, Steel Dynamics has an average volume of 1.29M.
Based on the recent corporate insider activity of 115 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of STLD in relation to earlier this year.
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Steel Dynamics (STLD) Company Description:
Steel Dynamics, Inc. engages in the manufacture of steel products and metal recycling. It operates through the following segments: Steel Operations, Metals Recycling Operations, Steel Fabrication Operations, and Other. The Steel Operations segment consists of sheet products including hot roll, cold roll, and coated steel; long products including structural steel beams, pilings, and standard and premium grade rail; and steel finishing services such as turning, polishing, straightening, chamfering, threading, and precision saw-cutting. The Metals Recycling Operations segment provides an array of both ferrous and non-ferrous scrap recycling, scrap management, transportation, and brokerage products and services. The Steel Fabrication Operations segment offers steel joists, girders, and steel deck, including specialty deck. The Other segment comprises of subsidiary operations and certain unallocated corporate accounts. The company was founded by Keith E. Busse, Mark D. Millett, Richard P. Teets and John C. Bates in August 1993 and is headquartered in Fort Wayne, IN.
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