Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Steel Dynamics Inc. shares valued at $1,295,450 were purchased by JAMES ANDERSON on Oct 22 ’24. At $129.54 per share, JAMES ANDERSON acquired 10,000 shares.
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Also, Anderson James Stanley sold 10,000 shares, netting a total of over 1,295,450 in proceeds. Following the sale of shares at $129.54 each, the insider now holds 88,063 shares.
Before that, Pushis Glenn had sold 17,941 shares from its account. In a trade valued at $2,387,825, the Senior Vice President traded Steel Dynamics Inc. shares for $133.09 each. Upon closing the transaction, the insider’s holdings decreased to 17,941 shares, worth approximately $19.12 million.
As published in a research note from BofA Securities on October 01, 2024, Steel Dynamics Inc. [STLD] has been rated up from a Neutral to a Buy and the price target has been revised to $155 from $140. Analysts at BMO Capital Markets resumed the stock at ‘”a Market perform”‘ outlook in a report released in mid September. As of September 09, 2024, JP Morgan has increased its “an Underweight” rating to a “Neutral” for STLD. Earlier on September 03, 2024, UBS upgraded its rating. Their new recommendation was “a Buy” for STLD stock which previously was a “a Neutral”.
Analyzing STLD Stock Performance
During the last five days, there has been a drop of approximately -3.49%. Over the course of the year, Steel Dynamics Inc. shares have jumped approximately 10.36%. Shares of the company reached a 52-week high of $151.34 on 04/01/24 and a 52-week low of $104.60 on 09/11/24. A 50-day SMA is recorded $121.92, while a 200-day SMA reached $127.49. Nevertheless, trading volume fell to 1.15 million shares from 1.05 million shares the previous day.
Support And Resistance Levels for Steel Dynamics Inc. (STLD)
According to the 24-hour chart, there is a support level at 128.24, which, if violated, would cause prices to drop to 126.14. In the upper region, resistance lies at 131.61. The next price resistance is at 132.87. RSI (Relative Strength Index) is 55.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.45, which suggests the price will decrease in the coming days. Percent R is at 62.73%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
