Fintel reports that on October 1, 2024, B of A Securities upgraded their outlook for Steel Dynamics (NasdaqGS:STLD) from Neutral to Buy.
Analyst Price Forecast Suggests 3.22% Upside
As of September 25, 2024, the average one-year price target for Steel Dynamics is $133.40/share. The forecasts range from a low of $107.06 to a high of $168.00. The average price target represents an increase of 3.22% from its latest reported closing price of $129.24 / share.
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The projected annual revenue for Steel Dynamics is 15,825MM, a decrease of 14.90%. The projected annual non-GAAP EPS is 7.41.
What is the Fund Sentiment?
There are 1,639 funds or institutions reporting positions in Steel Dynamics. This is an increase of 15 owner(s) or 0.92% in the last quarter. Average portfolio weight of all funds dedicated to STLD is 0.25%, an increase of 6.91%. Total shares owned by institutions increased in the last three months by 1.99% to 146,746K shares. 
The put/call ratio of STLD is 0.71, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,710K shares representing 3.05% ownership of the company. In its prior filing, the firm reported owning 4,845K shares , representing a decrease of 2.86%. The firm decreased its portfolio allocation in STLD by 17.41% over the last quarter.
Price T Rowe Associates holds 3,877K shares representing 2.51% ownership of the company. In its prior filing, the firm reported owning 3,604K shares , representing an increase of 7.02%. The firm decreased its portfolio allocation in STLD by 8.26% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 3,791K shares representing 2.46% ownership of the company. In its prior filing, the firm reported owning 3,833K shares , representing a decrease of 1.11%. The firm decreased its portfolio allocation in STLD by 18.21% over the last quarter.
Geode Capital Management holds 3,670K shares representing 2.38% ownership of the company. In its prior filing, the firm reported owning 3,706K shares , representing a decrease of 0.97%. The firm decreased its portfolio allocation in STLD by 57.13% over the last quarter.
Royal London Asset Management holds 3,264K shares representing 2.12% ownership of the company. In its prior filing, the firm reported owning 3,691K shares , representing a decrease of 13.07%. The firm decreased its portfolio allocation in STLD by 20.85% over the last quarter.
Steel Dynamics Background Information
(This description is provided by the company.)
Steel Dynamics is one of the largest domestic steel producers and metals recyclers in the United States, based on estimated annual steelmaking and metals recycling capability, with facilities located throughout the United States, and in Mexico. Steel Dynamics produces steel products, including hot roll, cold roll, and coated sheet steel, structural steel beams and shapes, rail, engineered special-bar-quality steel, cold finished steel, merchant bar products, specialty steel sections and steel joists and deck. In addition, the company produces liquid pig iron and processes and sells ferrous and nonferrous scrap.
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