November 29, 2016 - By Ellis Scott
In a a report sent to investors and clients today, Macquarie cut shares of Steel Dynamics (NASDAQ:STLD) to a Neutral rating from a Outperform rating.
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 -25.48% below today’s ($35.4) stock price. Steel Dynamics Inc. has been the topic of 35 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) has “Sector Weight” rating given on Friday, August 19 by KeyBanc Capital Markets. As per Thursday, September 17, the company rating was maintained by Jefferies. The stock has “Buy” rating given by Nomura on Monday, December 14. Nomura maintained Steel Dynamics, Inc. (NASDAQ:STLD) on Wednesday, March 9 with “Buy” rating. Barclays Capital maintained the stock with “Overweight” rating in Tuesday, January 12 report. Rosenblatt maintained it with “Neutral” rating and $24 target price in Tuesday, May 10 report. On Wednesday, June 8 the stock rating was maintained by Credit Suisse with “Outperform”. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) earned “Buy” rating by Citigroup on Monday, August 22. The rating was downgraded by Rosenblatt to “Neutral” on Monday, March 14. The firm has “Buy” rating given on Wednesday, October 21 by Citigroup.
About 3.76 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 $103.98 million for 20.58 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 Q2 2016. Its down 0.48, from 1.39 in 2016Q1. The ratio dived, 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.
Paloma has invested 0.03% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). Moreover, Caxton Associates Lp has 0.48% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 704,700 shares. Investec Asset Management Ltd has 343,503 shares for 0.04% of their US portfolio. Comerica National Bank accumulated 0.04% or 171,908 shares. Fifth Third National Bank & Trust holds 0% or 3,536 shares in its portfolio. Princeton Alpha Management Ltd Partnership has invested 0.2% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). Commonwealth Equity Services owns 53,996 shares or 0.01% of their US portfolio. Eagle Asset Management, a Florida-based fund reported 318,197 shares. Credit Suisse Ag accumulated 0.03% or 971,147 shares. Affinity Investment Advsr Ltd Liability Co holds 0.4% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 221,464 shares. Menta Lc holds 0.18% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 53,282 shares. Hancock Holdg holds 0.12% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 117,750 shares. North Point Managers Oh owns 8,300 shares or 0.04% of their US portfolio. Thompson Davis And reported 113 shares or 0% of all its holdings. Dimensional Fund Advsrs Limited Partnership holds 5.89M shares or 0.08% of its portfolio.
Insider Transactions: Since July 25, 2016, the stock had 0 insider purchases, and 3 insider sales for $896,670 net activity. 17,900 Steel Dynamics, Inc. (NASDAQ:STLD) shares with value of $486,825 were sold by KOLB JURGEN DR. BUSSE KEITH E 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 $8.56 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 80.12 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.”
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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By Ellis Scott