Steel Dynamics (STLD) Rating Increased to Sell at ValuEngine

ValuEngine upgraded shares of Steel Dynamics (NASDAQ:STLD) from a strong sell rating to a sell rating in a research note issued to investors on Thursday.

Several other equities research analysts have also issued reports on the stock. Credit Suisse Group upgraded shares of Steel Dynamics from a neutral rating to an outperform rating in a research report on Tuesday, January 8th. They noted that the move was a valuation call. BMO Capital Markets dropped their target price on shares of Steel Dynamics from $60.00 to $53.00 and set a buy rating for the company in a research report on Friday, October 19th. Deutsche Bank lowered shares of Steel Dynamics to a buy rating in a report on Tuesday, October 2nd. BidaskClub lowered shares of Steel Dynamics from a sell rating to a strong sell rating in a report on Wednesday, November 28th. Finally, Zacks Investment Research upgraded shares of Steel Dynamics from a hold rating to a buy rating and set a $52.00 price objective for the company in a report on Wednesday, September 12th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $50.42.

Shares of Steel Dynamics stock opened at $33.49 on Thursday. Steel Dynamics has a 1 year low of $28.91 and a 1 year high of $52.10. The company has a market cap of $7.60 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 0.60 and a beta of 1.36. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.94 and a quick ratio of 2.17.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 17th. The basic materials company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.04. Steel Dynamics had a net margin of 11.49% and a return on equity of 31.96%. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period in the previous year, the business posted $0.66 earnings per share. Steel Dynamics’s revenue for the quarter was up 31.9% on a year-over-year basis. Equities research analysts predict that Steel Dynamics will post 5.53 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 11th. Stockholders of record on Monday, December 31st were issued a $0.1875 dividend. The ex-dividend date of this dividend was Friday, December 28th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 2.24%. Steel Dynamics’s payout ratio is 28.30%.

In other news, Director Richard P. Teets, Jr. bought 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 28th. The shares were bought at an average cost of $33.85 per share, with a total value of $677,000.00. Following the completion of the purchase, the director now directly owns 5,022,779 shares in the company, valued at $170,021,069.15. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 4.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Canton Hathaway LLC purchased a new position in shares of Steel Dynamics in the third quarter worth $106,000. Qube Research & Technologies Ltd purchased a new position in Steel Dynamics during the 2nd quarter valued at $119,000. Stratos Wealth Partners LTD. purchased a new position in Steel Dynamics during the 3rd quarter valued at $134,000. Gideon Capital Advisors Inc. purchased a new position in Steel Dynamics during the 3rd quarter valued at $203,000. Finally, Brookstone Capital Management purchased a new position in Steel Dynamics during the 3rd quarter valued at $214,000. 83.84% 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. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.

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Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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