Steel Dynamics (STLD) : Investors lapped up stocks on upticks to the tune of $8.33 million in the Tuesdays trading session. The trading value on downticks was comparatively at $4.98 million and the uptick to downtick ratio of 1.67 indicates continuous buying by the bulls. The net money flow into the stock was $3.35 million. The block trades were dominated by the bulls with a healthy 4.86, uptick to downtick ratio. Only $0.76 million worth of trades exchanged hands on downticks showing the reluctance of the large traders to part with their holdings. Upticks saw transactions worth $3.68 clearly indicating buying by large investors. The total money flow for block trades stood at $2.93 million, which is a positive for the stock in the long-term. Steel Dynamics (STLD) fell $0.2 during the day at $24.69, a drop of -0.8% over the previous days close. However, for the week, the stock is 0.24%, compared to the previous week.
Also, Citigroup initiates coverage on Steel Dynamics (NASDAQ:STLD). The rating major has initiated the coverage with buy rating on the shares. The Analysts at Citigroup announces a current price target of $33 per share. The rating by the firm was issued on August 22, 2016.
Steel Dynamics Inc. has lost 2.37% in the last five trading days and dropped 6.51% in the last 4 weeks. Steel Dynamics Inc. is up 0.77% in the last 3-month period. Year-to-Date the stock performance stands at 39.99%.
Steel Dynamics (NASDAQ:STLD): The stock opened at $26.00 on Tuesday but the bulls could not build on the opening and the stock topped out at $26.00 for the day. The stock traded down to $24.57 during the day, due to lack of any buying support eventually closed down at $24.71 with a loss of -0.72% for the day. The stock had closed at $24.89 on the previous day. The total traded volume was 1,838,459 shares.
In a related news, The Securities and Exchange Commission has divulged that Kolb Jurgen Dr, director of Steel Dynamics Inc, had unloaded 17,900 shares at an average price of $26.85 in a transaction dated on July 25, 2016. The total value of the transaction was worth $480,615.
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.