Steel Dynamics (NASDAQ:STLD) has tumbled 1.47% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 8.79% in the last four weeks. The stocks have underperformed the S&P 500 by 0.29% during the past week but Steel Dynamics (NASDAQ:STLD) it has outperformed the index in 4 weeks by 7.8%.
Steel Dynamics (NASDAQ:STLD): The stock opened at $25.98 on Friday but the bulls could not build on the opening and the stock topped out at $26.24 for the day. The stock traded down to $25.44 during the day, due to lack of any buying support eventually closed down at $25.50 with a loss of -1.70% for the day. The stock had closed at $25.94 on the previous day. The total traded volume was 4,067,368 shares.
The company shares have rallied 17.30% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $26.99 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $24.79 and the 200 Day Moving Average price is recorded at $20.82.
On the companys insider trading activities,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.
Many analysts have stated their opinion on the company shares. Jefferies maintains its rating on Steel Dynamics (NASDAQ:STLD). The global brokerage major raises the current price target from $28 per share to $31 per share. Analysts at the Jefferies have a current rating of Buy on the shares. The rating by the firm was issued on June 10, 2016. Currently the company Insiders own 4.1% of Steel Dynamics shares according to the proxy statements. Institutional Investors own 78.47% of Steel Dynamics shares.
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.