Rating Worth Mentioning Today: Is Steel Dynamics (NASDAQ:STLD) a Sell? Macquarie Downgrades It

November 29, 2016 - By Peter Kolinski

Rating Worth Mentioning Today: Is Steel Dynamics (NASDAQ:STLD) a Sell? Macquarie Downgrades It

Steel Dynamics (NASDAQ:STLD) Downgrade

Steel Dynamics (NASDAQ:STLD)‘s rating was lowered by stock analysts at Macquarie from a “Outperform” rating to a “Neutral” rating in analysts report revealed on Tuesday, 29 November.

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

Out of 12 analysts covering Steel Dynamics Inc. (NASDAQ:STLD), 9 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 75% are positive. $33 is the highest target while $21 is the lowest. The $26.38 average target is -24.82% below today’s ($35.09) stock price. Steel Dynamics Inc. has been the topic of 35 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Berenberg given on Wednesday, October 14. Barclays Capital maintained Steel Dynamics, Inc. (NASDAQ:STLD) on Monday, October 5 with “Overweight” rating. Berenberg downgraded Steel Dynamics, Inc. (NASDAQ:STLD) on Monday, November 14 to “Hold” rating. The firm has “Buy” rating by Citigroup given on Wednesday, October 21. The firm has “Buy” rating by Jefferies given on Wednesday, January 13. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) has “Buy” rating given on Thursday, August 13 by Deutsche Bank. The firm earned “Overweight” rating on Tuesday, April 19 by Barclays Capital. Jefferies maintained Steel Dynamics, Inc. (NASDAQ:STLD) rating on Thursday, September 17. Jefferies has “Buy” rating and $25 price target. The firm has “Buy” rating given on Tuesday, March 8 by Berenberg. On Monday, March 14 the stock rating was downgraded by Rosenblatt to “Neutral”.

About 1.37 million shares traded hands. Steel Dynamics, Inc. (NASDAQ: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 $103.89 million for 20.41 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 dropped, 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.

Capital Rech Global Investors holds 0% or 592,000 shares in its portfolio. Mesirow Fincl last reported 0.1% of its portfolio in the stock. Ajo L P accumulated 1.08 million shares or 0.12% of the stock. Counsel Inc last reported 51,928 shares in the company. Janus Capital Ltd Liability Company holds 112,600 shares or 0% of its portfolio. Numeric Ltd Liability Company last reported 0.3% of its portfolio in the stock. Principal Fincl Inc has 1.30 million shares for 0.04% of their US portfolio. Da Davidson And last reported 0% of its portfolio in the stock. Quantbot Technology Ltd Partnership accumulated 0.17% or 65,403 shares. Bluestein R H And accumulated 0.03% or 13,965 shares. Lpl owns 28,480 shares or 0.01% of their US portfolio. Northern Tru Corp reported 1.89 million shares or 0.01% of all its holdings. The Utah-based Utah Retirement has invested 0.03% in Steel Dynamics, Inc. (NASDAQ:STLD). Ig Investment Mgmt accumulated 0.01% or 90,000 shares. Virginia Retirement Et Al, a Virginia-based fund reported 73,200 shares.

Insider Transactions: Since July 25, 2016, the stock had 0 buys, and 3 selling transactions for $896,670 net activity. $486,825 worth of Steel Dynamics, Inc. (NASDAQ:STLD) was sold by KOLB JURGEN DR. BUSSE KEITH E sold $54,660 worth of stock or 2,000 shares.

Steel Dynamics, Inc. is a steel producing and a metal recycling company. The company has a market cap of $8.48 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 79.42 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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