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Watch for Continued Gains in Shares of Steel Dynamics Inc. (STLD)

Steel Dynamics Inc. (NASDAQ:STLD) traded today at a new 12-month high of $88.01. This new high was reached on below average trading volume as 284,000 shares traded hands, while the average 30-day volume is approximately 2.6 million shares.

Steel Dynamics Inc. is currently priced 3.9% above its average consensus analyst price target of $84.29.

Steel Dynamics Inc. share prices have moved between a 12-month high of $88.01 and a 12-month low of $44.44 and are now trading 97% above that low price at $87.73 per share.

Steel Dynamics operates scrap-based steel minimills with roughly 13 million tons of annual steel production capacity. The company manufactures steel products that primarily serve the construction, automotive, manufacturing, and transportation end markets. It also processes and sells recycled ferrous and nonferrous metals and operates a steel fabrication business that manufactures products for the nonresidential construction industry.

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