Fintel reports that on September 26, 2023, Citigroup upgraded their outlook for Steel Dynamics (NASDAQ:STLD) from Neutral to Buy .
Analyst Price Forecast Suggests 5.83% Upside
As of August 31, 2023, the average one-year price target for Steel Dynamics is 110.48. The forecasts range from a low of 69.69 to a high of $136.50. The average price target represents an increase of 5.83% from its latest reported closing price of 104.39.
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The projected annual revenue for Steel Dynamics is 17,362MM, a decrease of 15.11%. The projected annual non-GAAP EPS is 11.01.
What is the Fund Sentiment?
There are 1527 funds or institutions reporting positions in Steel Dynamics. This is a decrease of 40 owner(s) or 2.55% in the last quarter. Average portfolio weight of all funds dedicated to STLD is 0.26%, a decrease of 14.95%. Total shares owned by institutions decreased in the last three months by 7.06% to 149,787K shares. 
The put/call ratio of STLD is 0.45, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,016K shares representing 3.03% ownership of the company. In it's prior filing, the firm reported owning 5,162K shares, representing a decrease of 2.92%. The firm decreased its portfolio allocation in STLD by 13.63% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 3,823K shares representing 2.31% ownership of the company. In it's prior filing, the firm reported owning 3,892K shares, representing a decrease of 1.79%. The firm decreased its portfolio allocation in STLD by 14.28% over the last quarter.
Royal London Asset Management holds 3,733K shares representing 2.25% ownership of the company. In it's prior filing, the firm reported owning 3,266K shares, representing an increase of 12.52%. The firm decreased its portfolio allocation in STLD by 11.03% over the last quarter.
Geode Capital Management holds 3,641K shares representing 2.20% ownership of the company. In it's prior filing, the firm reported owning 4,074K shares, representing a decrease of 11.90%. The firm decreased its portfolio allocation in STLD by 22.10% over the last quarter.
Capital Research Global Investors holds 2,772K shares representing 1.67% ownership of the company. In it's prior filing, the firm reported owning 2,223K shares, representing an increase of 19.81%. The firm increased its portfolio allocation in STLD by 12.81% 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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