Steel Dynamics (NASDAQ:STLD) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of Steel Dynamics (NASDAQ:STLD) from a sell rating to a strong sell rating in a research report report published on Monday, April 1st, ValuEngine reports.

Other equities analysts have also issued research reports about the stock. UBS Group set a $36.00 price objective on shares of Steel Dynamics and gave the company a hold rating in a report on Monday, December 10th. BidaskClub upgraded shares of Steel Dynamics from a sell rating to a hold rating in a report on Wednesday, January 30th. Credit Suisse Group upgraded shares of Steel Dynamics from a neutral rating to an outperform rating in a report on Tuesday, January 8th. They noted that the move was a valuation call. Cowen began coverage on shares of Steel Dynamics in a report on Tuesday, January 8th. They set a market perform rating and a $32.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Steel Dynamics from a sell rating to a hold rating in a report on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of Hold and an average price target of $46.64.

STLD stock traded down $0.34 during midday trading on Monday, hitting $32.48. The stock had a trading volume of 2,794,789 shares, compared to its average volume of 2,157,447. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 5.92, a PEG ratio of 0.71 and a beta of 1.39. The company has a quick ratio of 2.13, a current ratio of 3.96 and a debt-to-equity ratio of 0.62. Steel Dynamics has a 1-year low of $28.91 and a 1-year high of $52.10.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Monday, April 22nd. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.91. Steel Dynamics had a net margin of 10.65% and a return on equity of 35.44%. The business had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter in the previous year, the business earned $0.96 earnings per share. Steel Dynamics’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts expect that Steel Dynamics will post 3.99 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 12th. Stockholders of record on Sunday, March 31st were given a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, March 29th. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.19. This represents a $0.96 annualized dividend and a dividend yield of 2.96%. Steel Dynamics’s payout ratio is presently 17.49%.

Several large investors have recently bought and sold shares of the company. Creative Planning bought a new stake in shares of Steel Dynamics during the first quarter worth about $234,000. Bailard Inc. increased its position in shares of Steel Dynamics by 399.9% during the first quarter. Bailard Inc. now owns 70,527 shares of the basic materials company’s stock worth $2,487,000 after acquiring an additional 56,418 shares in the last quarter. Exane Derivatives increased its position in shares of Steel Dynamics by 16,465.2% during the first quarter. Exane Derivatives now owns 99,391 shares of the basic materials company’s stock worth $3,504,000 after acquiring an additional 98,791 shares in the last quarter. First Quadrant L P CA grew its position in Steel Dynamics by 1,193.3% in the 1st quarter. First Quadrant L P CA now owns 62,725 shares of the basic materials company’s stock worth $2,212,000 after purchasing an additional 57,875 shares in the last quarter. Finally, Boston Advisors LLC grew its position in Steel Dynamics by 72.6% in the 1st quarter. Boston Advisors LLC now owns 154,637 shares of the basic materials company’s stock worth $5,454,000 after purchasing an additional 65,069 shares in the last quarter. 82.55% of the stock is owned by institutional investors.

Steel Dynamics Company Profile

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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