Steel Dynamics Inc. (STLD) Rating Lowered to Sell at Vetr Inc.
Steel Dynamics Inc. (NASDAQ:STLD) was downgraded by investment analysts at Vetr from a “hold” rating to a “sell” rating in a research note issued on Tuesday. They presently have a $33.61 price target on the stock. Vetr‘s price target indicates a potential downside of 5.96% from the company’s previous close.
Several other research analysts have also issued reports on the company. Bank of America Corp. restated a “hold” rating and set a $27.00 target price on shares of Steel Dynamics in a research report on Tuesday, September 20th. Jefferies Group restated a “buy” rating on shares of Steel Dynamics in a research report on Wednesday, August 3rd. Berenberg Bank downgraded shares of Steel Dynamics from a “buy” rating to a “hold” rating and lifted their price target for the company from $35.00 to $36.50 in a research note on Monday, November 14th. Morgan Stanley reaffirmed a “buy” rating and set a $27.00 price target on shares of Steel Dynamics in a research note on Tuesday, August 16th. Finally, Citigroup Inc. started coverage on shares of Steel Dynamics in a research note on Monday, August 22nd. They set a “buy” rating and a $33.00 price target for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the stock. Steel Dynamics currently has an average rating of “Buy” and a consensus price target of $28.96.
Shares of Steel Dynamics (NASDAQ:STLD) opened at 35.74 on Tuesday. Steel Dynamics has a 1-year low of $15.32 and a 1-year high of $35.74. The company has a 50 day moving average price of $28.12 and a 200 day moving average price of $25.96. The stock has a market cap of $8.71 billion, a P/E ratio of 80.50 and a beta of 1.33.
Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 19th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.03. Steel Dynamics had a net margin of 1.46% and a return on equity of 14.52%. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $865.67 million. During the same quarter last year, the firm earned $0.25 EPS. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. On average, equities analysts anticipate that Steel Dynamics will post $1.91 EPS for the current year.
In other Steel Dynamics news, Director Keith E. Busse sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $27.33, for a total value of $54,660.00. Following the completion of the transaction, the director now owns 1,004,923 shares in the company, valued at $27,464,545.59. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.10% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of STLD. DekaBank Deutsche Girozentrale increased 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 worth $113,000 after buying an additional 2,896 shares during the period. Fuller & Thaler Asset Management Inc. increased 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 worth $118,000 after buying an additional 1,700 shares during the period. Acrospire Investment Management LLC increased its position in 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 increased its position in 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 increased its position in 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. Institutional investors and hedge funds own 82.16% of the company’s stock.
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Steel Dynamics Company Profile
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