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A statement released earlier today by Zacks Investment Research about Steel Dynamics, Inc. (NASDAQ:STLD) raises the target price to $38.00

In a report released on 5/20/2017 Zacks Investment Research increased the stock price target of Steel Dynamics, Inc. (NASDAQ:STLD) to $38.00 indicating a possible upside of 0.11%.

Previously on 4/27/2017, Zacks Investment Research reported on Steel Dynamics, Inc. (NASDAQ:STLD) increased the target price from $0.00 to $41.00. At the time, this indicated a possible upside of 0.13%.

Yesterday Steel Dynamics, Inc. (NASDAQ:STLD) traded 1.79% higher at $34.22. The company’s 50-day moving average is $34.72 and its 200-day moving average is $34.98. The last closing price is down 9.93% from the 200-day moving average, compared to the S&P 500 which has increased 0.01% over the same time period. 917,824 shares of the stock traded hands, down from an average trading volume of 2,769,000

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Steel Dynamics, Inc. (NASDAQ:STLD)

Steel Dynamics, Inc. has a 52 week low of $25.96 and a 52 week high of $40.17 with a P/E ratio of 17.66 STLD’s total market value is presently $0.

A total of 16 equity analysts have released a ratings update on STLD. Three equity analysts rating the company a strong buy, eleven equity analysts rating the company a buy, two equity analysts rating the company a hold, zero equity analysts rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $27.63.

Brief Synopsis About Steel Dynamics, Inc. (NASDAQ:STLD)

Steel Dynamics, Inc. is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations. It offers a range of steel products, such as sheet products, long products and steel finishing. The steel operations segment includes Butler Flat Roll Division, Columbus Flat Roll Division, The Techs galvanizing lines, Structural and Rail Division, Engineered Bar Products Division, Roanoke Bar Division, Steel of West Virginia and Iron Dynamics. The metals recycling operations segment consists of OmniSource Corporation. The fabrication operations produce steel building components. The Other Operations segment consists of subsidiary operations and smaller joint ventures.

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