Stock Rating: Is It Finally Time To Sell? Macquarie Research Downgrades Steel Dynamics Inc (NASDAQ:STLD)

November 29, 2016 - By Michael Collier

Stock Rating: Is It Finally Time To Sell? Macquarie Research Downgrades Steel Dynamics Inc (NASDAQ:STLD)

Steel Dynamics Inc (NASDAQ:STLD) Downgrade

Investment analysts at Macquarie Research’s equity research division downgraded Steel Dynamics Inc (NASDAQ:STLD)‘s stock rating from “Outperform” to “Neutral” on 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 -24.91% below today’s ($35.13) stock price. Steel Dynamics Inc. has been the topic of 35 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The rating was reinitiated by Jefferies with “Buy” on Wednesday, January 13. Cowen & Co maintained Steel Dynamics, Inc. (NASDAQ:STLD) rating on Wednesday, July 20. Cowen & Co has “Outperform” rating and $33 price target. On Tuesday, November 24 the stock rating was initiated by BB&T Capital with “Buy”. Bank of America upgraded the shares of STLD in a report on Wednesday, October 26 to “Buy” rating. On Thursday, September 17 the stock rating was maintained by Jefferies with “Buy”. The firm has “Sector Weight” rating by KeyBanc Capital Markets given on Friday, August 19. Nomura upgraded Steel Dynamics, Inc. (NASDAQ:STLD) on Monday, December 14 to “Buy” rating. Barclays Capital maintained Steel Dynamics, Inc. (NASDAQ:STLD) on Tuesday, January 12 with “Overweight” rating. The rating was maintained by Barclays Capital on Wednesday, July 13 with “Overweight”. The stock has “Buy” rating given by Citigroup on Wednesday, October 21.

About 4.59M 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 $104.29M for 20.42 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.

Strategic Glob Advsr Llc accumulated 0.29% or 31,619 shares. The Florida-based Raymond James And Associates has invested 0.03% in Steel Dynamics, Inc. (NASDAQ:STLD). Rainier Investment Mgmt Ltd last reported 308,440 shares in the company. Us Financial Bank De holds 33,626 shares or 0% of its portfolio. Ngam Lp holds 0% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 11,365 shares. Eam Invsts Limited Liability accumulated 80,393 shares or 0.3% of the stock. First Manhattan has 121 shares for 0% of their US portfolio. State Street Corp has 7.60 million shares for 0.02% of their US portfolio. Bnp Paribas Arbitrage Sa accumulated 0.04% or 403,916 shares. Pnc Svcs Grp has 0% invested in the company for 26,207 shares. Van Eck Corporation has 3.09M shares for 0.39% of their US portfolio. Secor Capital Advsr Limited Partnership, a New York-based fund reported 317,212 shares. Deere And has invested 0.07% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). The New York-based Engineers Gate Manager Lp has invested 0.4% in Steel Dynamics, Inc. (NASDAQ:STLD). Fuller & Thaler Asset Management last reported 0% of its portfolio in the stock.

Insider Transactions: Since July 25, 2016, the stock had 0 insider purchases, and 3 selling transactions for $896,670 net activity. Another trade for 13,155 shares valued at $355,185 was made by BUSSE KEITH E on Friday, July 29. The insider KOLB JURGEN DR sold 17,900 shares worth $486,825.

Steel Dynamics, Inc. is a steel producing and a metal recycling company. The company has a market cap of $8.52 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 79.74 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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