Steel Dynamics (NASDAQ:STLD) Downgraded by BidaskClub to Sell

Steel Dynamics (NASDAQ:STLD) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report issued on Saturday, BidAskClub reports.

Other analysts have also recently issued research reports about the stock. Macquarie set a $31.00 target price on shares of Steel Dynamics and gave the stock a “hold” rating in a research note on Wednesday, September 18th. BNP Paribas assumed coverage on shares of Steel Dynamics in a research note on Thursday. They issued an “outperform” rating and a $40.00 target price for the company. JPMorgan Chase & Co. set a $35.00 target price on shares of Steel Dynamics and gave the stock a “buy” rating in a research note on Monday, September 23rd. UBS Group reduced their target price on shares of Steel Dynamics from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Friday. Finally, Zacks Investment Research upgraded shares of Steel Dynamics from a “strong sell” rating to a “hold” rating and set a $25.00 target price for the company in a research note on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $33.17.

Steel Dynamics stock traded up $0.07 during midday trading on Friday, hitting $31.89. 1,793,800 shares of the company’s stock were exchanged, compared to its average volume of 2,333,446. Steel Dynamics has a 12-month low of $25.02 and a 12-month high of $39.93. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.24 and a current ratio of 4.00. The stock has a market cap of $6.75 billion, a price-to-earnings ratio of 5.81, a price-to-earnings-growth ratio of 0.86 and a beta of 1.66. The firm’s 50 day simple moving average is $30.21 and its 200 day simple moving average is $29.46.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, October 16th. The basic materials company reported $0.69 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.01). Steel Dynamics had a return on equity of 22.08% and a net margin of 7.44%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.62 billion. During the same quarter last year, the business posted $1.69 EPS. On average, equities research analysts forecast that Steel Dynamics will post 3.03 EPS for the current fiscal year.

In related news, SVP Miguel Alvarez acquired 8,920 shares of Steel Dynamics stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $27.72 per share, for a total transaction of $247,262.40. Following the completion of the purchase, the senior vice president now directly owns 700 shares of the company’s stock, valued at $19,404. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 4.90% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. D.A. Davidson & CO. lifted its stake in shares of Steel Dynamics by 39.4% in the third quarter. D.A. Davidson & CO. now owns 14,849 shares of the basic materials company’s stock valued at $443,000 after purchasing an additional 4,200 shares during the period. AE Wealth Management LLC lifted its stake in shares of Steel Dynamics by 2.9% in the third quarter. AE Wealth Management LLC now owns 32,357 shares of the basic materials company’s stock valued at $964,000 after purchasing an additional 918 shares during the period. Boston Advisors LLC lifted its stake in shares of Steel Dynamics by 1.4% in the third quarter. Boston Advisors LLC now owns 152,336 shares of the basic materials company’s stock valued at $4,540,000 after purchasing an additional 2,075 shares during the period. First Trust Advisors LP lifted its stake in shares of Steel Dynamics by 7.3% in the third quarter. First Trust Advisors LP now owns 365,280 shares of the basic materials company’s stock valued at $10,885,000 after purchasing an additional 24,793 shares during the period. Finally, Yorktown Management & Research Co Inc lifted its stake in shares of Steel Dynamics by 135.3% in the third quarter. Yorktown Management & Research Co Inc now owns 35,300 shares of the basic materials company’s stock valued at $1,052,000 after purchasing an additional 20,300 shares during the period. Hedge funds and other institutional investors own 81.41% of the company’s stock.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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