Goldman Sachs analyst Emily Chieng initiated coverage with a Buy rating on Steel Dynamics (STLD) today. The company’s shares closed last Friday at $51.19, close to its 52-week high of $52.59.
According to TipRanks.com, Chieng is a 3-star analyst with an average return of 14.2% and a 66.7% success rate. Chieng covers the Basic Materials sector, focusing on stocks such as Commercial Metals Company, First Quantum Minerals, and United States Steel.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Steel Dynamics with a $51.50 average price target.
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The company has a one-year high of $52.59 and a one-year low of $20.58. Currently, Steel Dynamics has an average volume of 2.17M.
Based on the recent corporate insider activity of 93 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.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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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