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

StockNews.com downgraded shares of Steel Dynamics (NASDAQ:STLD) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

Several other equities analysts also recently commented on the stock. Citigroup lowered their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. UBS Group restated a “neutral” rating and set a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Morgan Stanley lifted their price target on shares of Steel Dynamics from $131.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday. Jefferies Financial Group upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $125.00 to $145.00 in a report on Friday, January 24th. Finally, BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and an average price target of $145.13.

Steel Dynamics Stock Up 2.4 %

Shares of NASDAQ:STLD opened at $129.42 on Wednesday. The stock has a market capitalization of $19.70 billion, a P/E ratio of 13.21 and a beta of 1.35. The stock’s 50-day moving average price is $124.76 and its 200-day moving average price is $126.26. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. Steel Dynamics has a 12-month low of $104.60 and a 12-month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same period in the previous year, the firm earned $2.61 earnings per share. On average, equities analysts anticipate that Steel Dynamics will post 8.9 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were issued a $0.46 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.42%. Steel Dynamics’s dividend payout ratio (DPR) is presently 18.78%.

Insider Activity

In other news, SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total transaction of $277,500.00. Following the sale, the senior vice president now owns 21,101 shares of the company’s stock, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the sale, the senior vice president now owns 116,949 shares of the company’s stock, valued at $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Hedge Funds Weigh In On Steel Dynamics

Institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new position in Steel Dynamics during the third quarter valued at $25,000. ORG Wealth Partners LLC purchased a new stake in Steel Dynamics in the 4th quarter worth approximately $28,000. Private Trust Co. NA raised its stake in Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 245 shares during the period. Golden State Wealth Management LLC purchased a new position in Steel Dynamics during the fourth quarter valued at approximately $48,000. Finally, Brooklyn Investment Group bought a new position in shares of Steel Dynamics in the third quarter worth approximately $61,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Company Profile

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.