user warning: Table './fnndrupaldev/term_node' is marked as crashed and last (automatic?) repair failed query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 442562 ORDER BY v.weight, t.weight, t.name in /var/www/www.fnno.com/htdocs/modules/taxonomy/taxonomy.module on line 617.

Steel Dynamics: The Winning Streak Continues (STLD)

Published on Thu, 02/14/2013 - 15:21
By Peter Chu

Steel Dynamics (NASDAQ:STLD) traded today at a new 52-week high of $16.13. Approximately 2 million shares have changed hands today, as compared to an average 30-day volume of 2.6 million shares.

In the past 52 weeks, Steel Dynamics share prices have been bracketed by a low of $10.11 and a high of $16.13 and are now at $16.00, 58% above that low price. The 200-day and 50-day moving averages have moved 0.34% higher and 1.23% higher over the past week, respectively.

There is potential upside of 4.8% for shares of Steel Dynamics based on a current price of $16.00 and an average consensus analyst price target of $16.77. The stock should find initial support at its 50-day moving average (MA) of $14.41 and further support at its 200-day MA of $12.71.

Steel Dynamics, Inc. owns and operates a flat-rolled steel mini-mill, as well as a cold mill. The Company is also constructing a plant for the manufacture of direct reduced iron. Steel Dynamics's customers include intermediate steel processors, steel service centers, and end users such as manufacturers of cold-rolled strip.

By Peter Chu
pchu@fnno.com

Latest News from FNNO

Analyst Rating Flashback: Youku.com Down...

OTR Global downgraded Youku.com (NYSE:YOKU) from Positive to Mixed a week ago. Youku.c ...

Capital One Made the Right Call, Energy ...

One week ago Energy XXI Bermuda (NASDAQ:EXXI) was downgraded from Overweight to Equalwe ...

Analyst Rating Flashback: People's Unite...

Sandler O'Neill downgraded People's United Financial (NASDAQ:PBCT) from Hold to Sell a ...

Sterne Agee's Rating Change Only Had Sho...

One week ago Approach Resources (NASDAQ:AREX) was upgraded from Underperform to Neutral ...

FBR Capital Made the Right Call, FMC Tec...

One week ago FMC Technologies (NYSE:FTI) was downgraded from Outperform to Market Perfo ...

Analyst Rating In Review: China Petroleu...

One week ago China Petroleum & Chemical (NYSE:SNP) was downgraded from Outperform to Ma ...

Accenture In Retrospect: Shares Down 1.7...

A week ago, Citigroup downgraded Accenture from Buy to Neutral. Accenture shares are s ...

Analyst Rating Flashback: Peabody Energy...

A week ago, Nomura downgraded Peabody Energy from Neutral to Reduce. The shares closed ...