Steel Dynamics (STLD) : On Wednesday, The money flowed into the Steel Dynamics (STLD) stock with an uptick to downtick ratio was recorded at 1.21. Transactions worth $20.9 million were done on upticks, confirming the buying interest in the stock. The outflow of money on downticks stood at $17.31 million. The total money flow into the stock was $3.59 million. The block trades reveal a bullish bias with an up-down ratio of 1.21. The investors are using every small weakness in the stock to accumulate it, as can be seen in the $5.12 million of block transactions on upticks. The value of block trades on downticks was $4.22 million, indicating lower selling interest. The total money flow in block trades was $0.9 million. In terms of price action, Steel Dynamics (STLD) traded down $0.39 during the session at $26.46. Compared to the previous days closing, the stock was down only by -1.45%. For the week, the stock is -4.99%, over previous weeks closing.
Also, Barclays maintains its view on Steel Dynamics (NASDAQ:STLD) according to the research report released by the firm to its investors. The shares have now been rated Overweight by the stock experts at the ratings house. Barclays raises the price target from $27 per share to $28 per share on Steel Dynamics . The rating by the firm was issued on July 13, 2016.
Steel Dynamics (NASDAQ:STLD): The stock opened at $26.19 on Wednesday but the bulls could not build on the opening and the stock topped out at $26.52 for the day. The stock traded down to $25.98 during the day, due to lack of any buying support eventually closed down at $26.46 with a loss of -1.45% for the day. The stock had closed at $26.85 on the previous day. The total traded volume was 5,345,691 shares.
The stock has recorded a 20-day Moving Average of 2.86% and the 50-Day Moving Average is 5.48%. 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.