Steel Dynamics (NASDAQ:STLD) has tumbled 1.17% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 7.22% in the last four weeks. In the past week, the company has outperformed the S&P 500 by 0.04% and the outperformance has advanced to 5.89% for the last 4 weeks period. Steel Dynamics Inc. is up 33.14% in the last 3-month period. Year-to-Date the stock performance stands at 28%. The company shares have rallied 8.54% from its 1 Year high price. On Jun 3, 2015, the shares registered one year high at $23.17 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $20.78 and the 200 Day Moving Average price is recorded at $18.44.
Investment Firm, Newgate Capital sold out all of its stake in STLD during the fourth quarter. The investment firm sold 15,788 shares of STLD which is valued $334,706. Also, American Century Companies Inc cut down its position in STLD by selling 14,410 shares or 27.12% during the fourth quarter. The investment management company now holds 38,729 shares of STLD which is valued at $821,055.
Steel Dynamics (NASDAQ:STLD) : On Friday heightened volatility was witnessed in Steel Dynamics (NASDAQ:STLD) which led to swings in the share price. The stock opened for trading at $22.71 and hit $22.93 on the upside , eventually ending the session at $22.73, with a gain of 1.61% or 0.36 points. The heightened volatility saw the trading volume jump to 1,995,919 shares. The 52-week high of the share price is $23.165 and the company has a market cap of $5,528 million. The 52-week low of the share price is at $15.32 .
Many analysts have stated their opinion on the company shares. In the latest statement by the brokerage house, JP Morgan maintains its outlook on Steel Dynamics (NASDAQ:STLD). The current rating of the shares is Overweight, according to the research report released by the firm. The brokerage firm raises the price target from $21 per share to $29 per share. The rating by the firm was issued on April 5, 2016.
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.