Steel Dynamics (STLD) Stock Rating Lowered by BidaskClub

BidaskClub lowered shares of Steel Dynamics (NASDAQ:STLD) from a hold rating to a sell rating in a report issued on Thursday morning.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research cut Steel Dynamics from a buy rating to a hold rating in a report on Wednesday, June 27th. Bank of America lifted their price target on Steel Dynamics from $54.00 to $56.00 and gave the company a buy rating in a report on Wednesday, July 25th. UBS Group assumed coverage on Steel Dynamics in a report on Tuesday, April 17th. They set a neutral rating and a $47.00 price target on the stock. ValuEngine cut Steel Dynamics from a buy rating to a hold rating in a report on Saturday, June 16th. Finally, Citigroup lifted their price target on Steel Dynamics from $54.00 to $55.00 and gave the company a buy rating in a report on Tuesday, April 24th. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $52.62.

Shares of STLD traded down $0.69 during mid-day trading on Thursday, reaching $43.61. 2,817,075 shares of the company’s stock traded hands, compared to its average volume of 1,777,142. The stock has a market cap of $10.45 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 0.68 and a beta of 1.34. The company has a current ratio of 3.61, a quick ratio of 1.92 and a debt-to-equity ratio of 0.66. Steel Dynamics has a 12 month low of $32.20 and a 12 month high of $52.10.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Monday, July 23rd. The basic materials company reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.49 by $0.04. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Steel Dynamics had a return on equity of 26.90% and a net margin of 10.01%. The business’s revenue for the quarter was up 29.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 earnings per share. analysts forecast that Steel Dynamics will post 5.45 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 13th. Investors of record on Saturday, June 30th were paid a dividend of $0.1875 per share. The ex-dividend date was Thursday, June 28th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.72%. Steel Dynamics’s dividend payout ratio is presently 28.30%.

In related news, insider Theresa E. Wagler sold 17,196 shares of the firm’s stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $49.78, for a total transaction of $856,016.88. Following the transaction, the insider now owns 331,381 shares in the company, valued at $16,496,146.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Keith E. Busse sold 3,590 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $50.32, for a total transaction of $180,648.80. Following the transaction, the director now owns 1,003,020 shares in the company, valued at approximately $50,471,966.40. The disclosure for this sale can be found here. Insiders have sold 25,298 shares of company stock worth $1,266,868 in the last quarter. Company insiders own 4.40% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Smithfield Trust Co. increased its stake in shares of Steel Dynamics by 2,523.1% during the first quarter. Smithfield Trust Co. now owns 3,410 shares of the basic materials company’s stock valued at $150,000 after acquiring an additional 3,280 shares during the period. First Mercantile Trust Co. grew its position in Steel Dynamics by 96.0% in the first quarter. First Mercantile Trust Co. now owns 3,508 shares of the basic materials company’s stock worth $155,000 after buying an additional 1,718 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new position in Steel Dynamics in the first quarter worth approximately $188,000. HL Financial Services LLC acquired a new position in Steel Dynamics in the second quarter worth approximately $203,000. Finally, CENTRAL TRUST Co grew its position in Steel Dynamics by 6,707.7% in the second quarter. CENTRAL TRUST Co now owns 4,425 shares of the basic materials company’s stock worth $203,000 after buying an additional 4,360 shares during the last quarter. Institutional investors and hedge funds own 82.86% of the company’s stock.

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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