Steel Dynamics (NASDAQ:STLD) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, November 29th.

Other equities analysts have also issued research reports about the company. Macquarie began coverage on Steel Dynamics in a research note on Wednesday, September 6th. They issued a “neutral” rating and a $36.00 price objective on the stock. Bank of America reaffirmed a “buy” rating and set a $44.00 price target (up previously from $42.00) on shares of Steel Dynamics in a research note on Tuesday, September 5th. BidaskClub lowered Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Morgan Stanley lowered Steel Dynamics from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $45.00 to $33.00 in a research note on Tuesday, September 12th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $43.00 price target on shares of Steel Dynamics in a research note on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. Steel Dynamics currently has a consensus rating of “Buy” and a consensus target price of $41.70.

Steel Dynamics (NASDAQ:STLD) traded down $0.69 during trading on Wednesday, reaching $43.13. The company’s stock had a trading volume of 1,800,661 shares, compared to its average volume of 2,533,051. The company has a current ratio of 3.35, a quick ratio of 1.95 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $10,219.74, a price-to-earnings ratio of 16.98, a P/E/G ratio of 1.35 and a beta of 1.40. Steel Dynamics has a one year low of $32.15 and a one year high of $43.89.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, hitting analysts’ consensus estimates of $0.66. The company had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The business’s revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.64 earnings per share. equities analysts forecast that Steel Dynamics will post 2.65 EPS for the current year.

Institutional investors have recently made changes to their positions in the business. Toronto Dominion Bank bought a new stake in shares of Steel Dynamics in the second quarter worth about $107,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Steel Dynamics in the third quarter worth about $112,000. Hefty Wealth Partners increased its holdings in shares of Steel Dynamics by 76.1% in the third quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock worth $118,000 after acquiring an additional 1,477 shares in the last quarter. Cubist Systematic Strategies LLC increased its holdings in shares of Steel Dynamics by 80.8% in the third quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock worth $123,000 after acquiring an additional 1,589 shares in the last quarter. Finally, Advisory Services Network LLC increased its holdings in shares of Steel Dynamics by 2.3% in the second quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock worth $158,000 after acquiring an additional 101 shares in the last quarter. Institutional investors own 83.38% of the company’s stock.

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About Steel Dynamics

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

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Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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