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

Steel Dynamics (NASDAQ:STLD) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Thursday, ValuEngine reports.

STLD has been the topic of a number of other reports. Macquarie set a $36.00 target price on Steel Dynamics and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Credit Suisse Group cut Steel Dynamics from an “outperform” rating to a “neutral” rating and cut their target price for the company from $38.00 to $29.00 in a research note on Thursday, May 23rd. BidaskClub upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Bank of America cut Steel Dynamics from a “buy” rating to a “neutral” rating and raised their target price for the company from $30.00 to $34.00 in a research note on Wednesday, July 24th. Finally, Citigroup set a $34.00 target price on Steel Dynamics and gave the company a “buy” rating in a research note on Tuesday, June 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $39.67.

STLD stock traded down $0.66 during mid-day trading on Thursday, reaching $29.65. The company had a trading volume of 2,116,249 shares, compared to its average volume of 2,417,366. The company has a quick ratio of 2.40, a current ratio of 4.35 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $7.00 billion, a PE ratio of 5.40, a P/E/G ratio of 0.82 and a beta of 1.62. Steel Dynamics has a one year low of $25.02 and a one year high of $48.17. The business has a 50-day moving average price of $30.23.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Monday, July 22nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.02). The company had revenue of $2.77 billion during the quarter, compared to the consensus estimate of $2.78 billion. Steel Dynamics had a net margin of 9.11% and a return on equity of 28.50%. The business’s quarterly revenue was down 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.53 earnings per share. As a group, research analysts predict that Steel Dynamics will post 3.19 earnings per share for the current fiscal year.

In other news, Director Gabriel Shaheen bought 5,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were purchased at an average cost of $27.03 per share, with a total value of $135,150.00. Following the completion of the acquisition, the director now directly owns 58,635 shares in the company, valued at $1,584,904.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Glenn Pushis bought 5,740 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were purchased at an average cost of $26.13 per share, for a total transaction of $149,986.20. Following the completion of the acquisition, the insider now owns 91,289 shares of the company’s stock, valued at $2,385,381.57. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 12,740 shares of company stock worth $336,296. 4.90% of the stock is owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in STLD. Dimensional Fund Advisors LP lifted its position in Steel Dynamics by 7.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,472,381 shares of the basic materials company’s stock valued at $134,353,000 after acquiring an additional 309,961 shares during the last quarter. Macquarie Group Ltd. increased its stake in Steel Dynamics by 1.3% during the 4th quarter. Macquarie Group Ltd. now owns 66,467 shares of the basic materials company’s stock valued at $1,996,000 after purchasing an additional 828 shares in the last quarter. Geode Capital Management LLC increased its stake in Steel Dynamics by 7.1% during the 4th quarter. Geode Capital Management LLC now owns 2,770,859 shares of the basic materials company’s stock valued at $83,190,000 after purchasing an additional 184,297 shares in the last quarter. American Century Companies Inc. increased its stake in Steel Dynamics by 240.1% during the 4th quarter. American Century Companies Inc. now owns 542,891 shares of the basic materials company’s stock valued at $16,308,000 after purchasing an additional 383,255 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in Steel Dynamics by 95.0% during the 4th quarter. Deutsche Bank AG now owns 1,119,878 shares of the basic materials company’s stock valued at $33,633,000 after purchasing an additional 545,601 shares in the last quarter. 81.49% of the stock is currently owned by hedge funds and other institutional investors.

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.

Read More: Outstanding Shares and The Effect on Share Price

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Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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