Steel Dynamics (NASDAQ:STLD) Downgraded to “Sell” Rating by StockNews.com

Steel Dynamics (NASDAQ:STLD) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Several other brokerages have also recently commented on STLD. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Citigroup cut their price target on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Jefferies Financial Group dropped their price objective on Steel Dynamics from $145.00 to $125.00 and set a “hold” rating for the company in a report on Monday, January 6th. JPMorgan Chase & Co. reduced their target price on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Finally, BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $140.88.

Steel Dynamics Price Performance

STLD stock traded down $0.52 during midday trading on Thursday, reaching $122.37. 2,357,867 shares of the company’s stock traded hands, compared to its average volume of 1,762,541. The company has a 50-day simple moving average of $127.61 and a two-hundred day simple moving average of $126.38. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics has a 1-year low of $104.60 and a 1-year high of $155.56. The company has a market cap of $18.63 billion, a price-to-earnings ratio of 11.07 and a beta of 1.36.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. During the same quarter last year, the firm posted $2.61 earnings per share. On average, analysts anticipate that Steel Dynamics will post 9.7 earnings per share for the current year.

Insider Activity at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,000 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the sale, the senior vice president now directly owns 21,101 shares of the company’s stock, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the transaction, the senior vice president now owns 116,949 shares of the company’s stock, valued at $16,723,707. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,650 shares of company stock valued at $1,498,170. 6.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Steel Dynamics

Large investors have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in Steel Dynamics in the 3rd quarter valued at about $25,000. ORG Wealth Partners LLC acquired a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $28,000. Private Trust Co. NA increased its stake in shares of Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 245 shares during the period. Brooklyn Investment Group acquired a new stake in Steel Dynamics during the 3rd quarter worth approximately $61,000. Finally, Quest Partners LLC bought a new stake in Steel Dynamics in the 3rd quarter valued at $62,000. 82.41% of the stock is owned by institutional investors.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.