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STLD Stock Forecast: All the More Reason to Consider Steel Dynamics Inc. (STLD) Now

Steel Dynamics Inc. (NASDAQ: STLD) is 71.48% higher on its value in year-to-date trading and has touched a low of $50.54 and a high of $104.00 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The STLD stock was last observed hovering at around $103.02 in the last trading session, with the day’s gains setting it 3.42% off its average median price target of $97.00 for the next 12 months. It is also 3.24% off the consensus price target high of $110.00 offered by 12 analysts, but current levels are -80.41% lower than the price target low of $59.00 for the same period.

Currently trading at $106.44, the stock is 9.71% and 24.66% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.79 million and changing 3.32% at the moment leaves the stock 34.63% off its SMA200. STLD registered 58.79% gain for a year compared to 6-month gain of 36.29%.

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The stock witnessed a 10.58% loss in the last 1 month and extending the period to 3 months gives it a 30.78%, and is 5.93% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.64% over the week and 3.86% over the month.

Steel Dynamics Inc. (STLD) has around 10640 employees, a market worth around $18.76B and $22.75B in sales. Current P/E ratio is 4.69 and Fwd P/E is 10.16. Profit margin for the company is 19.00%. Distance from 52-week low is 110.61% and 2.35% from its 52-week high. The company has generated returns on investments over the last 12 months (35.50%).

Steel Dynamics Inc. (STLD) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Steel Dynamics Inc. (STLD) is a “Overweight”. 12 analysts offering their recommendations for the stock have an average rating of 2.50, where 5 rate it as a Hold and 0 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

Steel Dynamics Inc. is expected to release its quarterly report on 01/23/2023.The EPS is expected to grow by 499.70% this year.

Steel Dynamics Inc. (STLD) Top Institutional Holders

The shares outstanding are 180.26M, and float is at 165.28M with Short Float at 3.38%.

Steel Dynamics Inc. (STLD) Insider Activity

A total of 61 insider transactions have happened at Steel Dynamics Inc. (STLD) in the last six months, with sales accounting for 17 and purchases happening 44 times. The most recent transaction is an insider sale by BUSSE KEITH E,the company’sDirector. SEC filings show that BUSSE KEITH E sold 244 shares of the company’s common stock on Oct 25 at a price of $95.50 per share for a total of $23303.0. Following the sale, the insider now owns 0.7 million shares.

Steel Dynamics Inc. disclosed in a document filed with the SEC on Oct 24 that BUSSE KEITH E (Director) sold a total of 22,103 shares of the company’s common stock. The trade occurred on Oct 24 and was made at $96.33 per share for $2.13 million. Following the transaction, the insider now directly holds 0.7 million shares of the STLD stock.

Still, SEC filings show that on Jun 03, BUSSE KEITH E (Director) disposed off 5,040 shares at an average price of $83.51 for $0.42 million. The insider now directly holds 724,034 shares of Steel Dynamics Inc. (STLD).

Steel Dynamics Inc. (STLD): Who are the competitors?

The company’s main competitors (and peers) include Nucor Corporation (NUE) that is trading 27.14% up over the past 12 months.

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