Shares of Steel Dynamics (STLD) Rally 4.54%

Steel Dynamics (STLD) : Traders are bullish on Steel Dynamics (STLD) as it has outperformed the S&P 500 by a wide margin of 4.64% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.54% in the last 1 week, and is up 9.22% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock. The stock has recorded a 20-day Moving Average of 9.43% and the 50-Day Moving Average is 11.78%.

Steel Dynamics (NASDAQ:STLD): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $27.64 and $27.57 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $27.86. The buying momentum continued till the end and the stock did not give up its gains. It closed at $27.85, notching a gain of 0.43% for the day. The total traded volume was 2,497,383 . The stock had closed at $27.73 on the previous day.


The company Insiders own 4.1% of Steel Dynamics shares according to the proxy statements. Institutional Investors own 78.44% of Steel Dynamics shares. In a related news,The director of Steel Dynamics Inc, Busse Keith E sold 91,873 shares at $21.94 on March 18, 2016. The Insider selling transaction had a total value worth of $2,015,694. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Steel Dynamics, Inc. (SDI) is a steel producing and a metal recycling company. The Company operates in three segments: steel operations, metals recycling and ferrous resources operations, and steel fabrication operations. The Company offers hot roll, cold roll, galvanized, galvanneal, Galvalume, Galfan, and painted sheet steel; a range of structural steel beams and rails; engineered steel of various sizes and chemistries; and various merchant-bar products, rounds, angles, flats and channels. The Company also offers steel finishing and fabrication services. In the metals recycling operations of its metals recycling and ferrous resources segment, its products include an array of both ferrous and non-ferrous scrap processing, scrap management, transportation, and brokerage products and services. Its steel fabrication segment produces steel joists and steel decking materials.

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