Rating Change: Macquarie Gives Steel Dynamics (STLD) Lower Rating. Lost Its “Outperform” Rating

November 29, 2016 - By Marie Mckinney

Rating Change: Macquarie Gives Steel Dynamics (STLD) Lower Rating. Lost Its

Steel Dynamics (STLD) Downgrade

EU-listed Steel Dynamics (STLD), was lowered by research analysts at Macquarie. Macquarie lowered its rating on the $8.58 billion market cap company to a “Neutral” from a previous “Outperform”.

Steel Dynamics, Inc. (NASDAQ:STLD) Ratings Coverage

Out of 6 analysts covering Steel Dynamics (STLD), 3 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 50% are positive. $33.0 is the highest target while $31.0 is the lowest. The $32 average target is -9.83% below today’s ($35.49) stock price. Steel Dynamics has been the topic of 6 analyst reports since August 19, 2016 according to StockzIntelligence Inc. KeyBanc Capital Markets downgraded Steel Dynamics, Inc. (NASDAQ:STLD) on Friday, August 19 to “Sector Weight” rating. Citigroup initiated Steel Dynamics, Inc. (NASDAQ:STLD) on Monday, August 22 with “Buy” rating. The firm has “Outperform” rating by Cowen & Co given on Friday, October 21. The stock has “Neutral” rating given by Rosenblatt on Monday, November 14. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) earned “Buy” rating by Bank of America on Wednesday, October 26. As per Monday, November 14, the company rating was downgraded by Berenberg.

About 2.31M shares traded hands. Steel Dynamics, Inc. (STLD) has risen 44.58% since April 26, 2016 and is uptrending. It has outperformed by 39.32% the S&P500.

Analysts await Steel Dynamics, Inc. (NASDAQ:STLD) to report earnings on January, 23. They expect $0.43 EPS, up 377.78% or $0.34 from last year’s $0.09 per share. STLD’s profit will be $103.92M for 20.62 P/E if the $0.43 EPS becomes a reality. After $0.65 actual EPS reported by Steel Dynamics, Inc. for the previous quarter, Wall Street now forecasts -33.85% negative EPS growth.

Insitutional Activity: The institutional sentiment decreased to 0.91 in 2016 Q2. Its down 0.48, from 1.39 in 2016Q1. The ratio is negative, as 38 funds sold all Steel Dynamics, Inc. shares owned while 104 reduced positions. 70 funds bought stakes while 128 increased positions. They now own 197.44 million shares or 4.76% more from 188.47 million shares in 2016Q1.

Principal owns 1.30 million shares or 0.04% of their US portfolio. Hillsdale Investment Mngmt Incorporated owns 12,500 shares or 0.09% of their US portfolio. M&T Financial Bank Corp owns 17,707 shares or 0% of their US portfolio. Stevens Mngmt L P reported 243,666 shares or 0.24% of all its holdings. Lucus Advisors Ltd Liability has 0.29% invested in the company for 14,515 shares. Deutsche Financial Bank Ag last reported 0.02% of its portfolio in the stock. Goldman Sachs Grp reported 5.82 million shares or 0.05% of all its holdings. Monarch Management has 0.99% invested in the company for 108,245 shares. Thrivent Fin For Lutherans accumulated 0.4% or 3.45 million shares. Tiaa Cref Invest Ltd Llc holds 1.69M shares or 0.03% of its portfolio. Jefferies Grp Incorporated Ltd last reported 497 shares in the company. The California-based Fuller And Thaler Asset Mngmt Inc has invested 0% in Steel Dynamics, Inc. (NASDAQ:STLD). Quantbot Technologies Ltd Partnership holds 65,403 shares or 0.17% of its portfolio. Comerica Natl Bank owns 171,908 shares or 0.04% of their US portfolio. Legal And General Group Public Ltd Company has 0% invested in the company for 160,153 shares.

Insider Transactions: Since July 25, 2016, the stock had 0 buys, and 3 sales for $896,670 net activity. KOLB JURGEN DR sold $486,825 worth of stock. BUSSE KEITH E also sold $54,660 worth of Steel Dynamics, Inc. (NASDAQ:STLD) on Tuesday, November 1.

Steel Dynamics, Inc. is a steel producing and a metal recycling company. The company has a market cap of $8.58 billion. The Firm is engaged in manufacturing and selling of steel products, processing and selling of recycled ferrous and non-ferrous metals, and fabricating and selling of steel joist and deck products. It has a 80.33 P/E ratio.

According to Zacks Investment Research, “Steel Dynamics, Inc. owns and operates a flat-rolled steel mini-mill. Steel Dynamics operates in the production and sale of hot-rolled and cold-rolled steel coils. The company’s customers consist of intermediate steel processors, steel service centers and end users including manufacturers of cold-rolled strip, oil and gas transmission pipe, and mechanical and structural tubing.”

STLD Company Profile

Steel Dynamics, Inc., incorporated on June 16, 1994, is a steel producing and a metal recycling company. The Firm is engaged in manufacturing and selling of steel products, processing and selling of recycled ferrous and non-ferrous metals, and fabricating and selling of steel joist and deck products. The Company’s divisions include steel operations, metals recycling operations, steel fabrication activities and Other Operations. The Firm offers a range of steel products, which include sheet products, such as hot roll, cold roll and coated steel, including light gauge hot roll, galvanized and painted products; long products, such as structural steel beams, pilings, and various merchant-bar products, including rounds, angles, flats, channels and reinforcing bar, and steel fabrication products, including steel joists and steel deck material, including specialty deck. It offers an array of both ferrous and nonferrous scrap processing, scrap management, transportation, and brokerage services and products. The Firm also offers steel finishing and fabrication services.

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