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

Other research analysts have also issued reports about the stock. ValuEngine lowered shares of Steel Dynamics from a “buy” rating to a “hold” rating in a report on Saturday, December 7th. BNP Paribas assumed coverage on shares of Steel Dynamics in a report on Thursday, November 14th. They set an “outperform” rating and a $40.00 price objective on the stock. JPMorgan Chase & Co. set a $35.00 target price on Steel Dynamics and gave the company a “buy” rating in a research note on Monday, September 23rd. Longbow Research raised Steel Dynamics from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, December 9th. Finally, Macquarie set a $31.00 price target on shares of Steel Dynamics and gave the company a “hold” rating in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $34.75.

Shares of STLD stock traded down $0.17 during trading hours on Tuesday, hitting $33.06. 18,264 shares of the company were exchanged, compared to its average volume of 1,609,477. The firm has a market cap of $7.24 billion, a PE ratio of 5.99, a PEG ratio of 1.03 and a beta of 1.67. Steel Dynamics has a 1 year low of $25.02 and a 1 year high of $39.35. The company has a quick ratio of 2.24, a current ratio of 4.00 and a debt-to-equity ratio of 0.60. The firm has a fifty day moving average of $34.15 and a 200 day moving average of $30.95.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $0.69 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.01). The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.62 billion. Steel Dynamics had a return on equity of 22.08% and a net margin of 7.44%. During the same quarter in the previous year, the company earned $1.69 earnings per share. Analysts expect that Steel Dynamics will post 3.04 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in STLD. Rehmann Capital Advisory Group raised its position in shares of Steel Dynamics by 96.9% in the second quarter. Rehmann Capital Advisory Group now owns 1,016 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 500 shares during the period. Quest Capital Management Inc. ADV acquired a new position in shares of Steel Dynamics in the third quarter valued at $38,000. Stonebridge Capital Advisors LLC acquired a new position in shares of Steel Dynamics in the second quarter valued at $39,000. AdvisorNet Financial Inc raised its stake in shares of Steel Dynamics by 39.1% in the third quarter. AdvisorNet Financial Inc now owns 2,001 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 562 shares in the last quarter. Finally, Boston Partners acquired a new position in shares of Steel Dynamics in the second quarter valued at $64,000. 80.60% of the stock is currently owned by 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.

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Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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