Steel Dynamics Inc. (NASDAQ:STLD) was downgraded by stock analysts at Berenberg Bank from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

Several other equities research analysts have also recently issued reports on STLD. Clarkson Capital reissued a “neutral” rating and set a $24.00 target price on shares of Steel Dynamics in a research note on Tuesday, July 19th. Cowen and Company raised their target price on Steel Dynamics from $30.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 20th. Bank of America Corp. cut Steel Dynamics from a “buy” rating to a “neutral” rating and set a $28.00 target price for the company. in a research note on Wednesday, July 20th. Jefferies Group reissued a “buy” rating and set a $31.00 target price on shares of Steel Dynamics in a research note on Wednesday, July 20th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $30.00 target price on shares of Steel Dynamics in a research note on Friday, July 22nd. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $28.37.

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

Shares of Steel Dynamics (NASDAQ:STLD) opened at 32.28 on Monday. Steel Dynamics has a 52 week low of $15.32 and a 52 week high of $32.94. The company’s 50 day moving average price is $26.11 and its 200-day moving average price is $25.44. The stock has a market capitalization of $7.87 billion, a PE ratio of 72.70 and a beta of 1.33.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, October 19th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by $0.03. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $865.67 million. Steel Dynamics had a return on equity of 14.52% and a net margin of 1.46%. Steel Dynamics’s revenue was up 7.7% compared to the same quarter last year. During the same period last year, the business earned $0.25 EPS. Equities research analysts predict that Steel Dynamics will post $1.91 EPS for the current year.

In other news, Director Keith E. Busse sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $27.33, for a total value of $54,660.00. Following the completion of the sale, the director now directly owns 1,004,923 shares of the company’s stock, valued at approximately $27,464,545.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of STLD. DekaBank Deutsche Girozentrale boosted its position in shares of Steel Dynamics by 181.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,496 shares of the company’s stock valued at $113,000 after buying an additional 2,896 shares during the period. Fuller & Thaler Asset Management Inc. boosted its position in shares of Steel Dynamics by 54.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,800 shares of the company’s stock valued at $118,000 after buying an additional 1,700 shares during the period. Acrospire Investment Management LLC boosted its position in shares of Steel Dynamics by 137.5% in the second quarter. Acrospire Investment Management LLC now owns 5,699 shares of the company’s stock valued at $140,000 after buying an additional 3,299 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of Steel Dynamics by 1,676.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,843 shares of the company’s stock valued at $143,000 after buying an additional 5,514 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in shares of Steel Dynamics by 991.5% in the second quarter. Loomis Sayles & Co. L P now owns 7,029 shares of the company’s stock valued at $172,000 after buying an additional 6,385 shares during the period. Hedge funds and other institutional investors own 83.43% of the company’s stock.

Steel Dynamics Company Profile

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