Steel Dynamics (NASDAQ:STLD) Rating Lowered to Hold at Wall Street Zen

Steel Dynamics (NASDAQ:STLD) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

STLD has been the subject of a number of other reports. KeyCorp began coverage on shares of Steel Dynamics in a report on Wednesday, March 25th. They set an “overweight” rating and a $190.00 price target for the company. JPMorgan Chase & Co. decreased their price objective on shares of Steel Dynamics from $194.00 to $192.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Morgan Stanley reaffirmed an “underperform” rating and set a $190.00 price objective on shares of Steel Dynamics in a research note on Tuesday, March 17th. Wells Fargo & Company dropped their target price on shares of Steel Dynamics from $210.00 to $196.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 29th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $182.44.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $180.20 on Friday. The stock has a market capitalization of $26.08 billion, a P/E ratio of 22.50, a price-to-earnings-growth ratio of 0.49 and a beta of 1.39. The stock’s 50-day moving average price is $184.81 and its 200-day moving average price is $168.55. The company has a current ratio of 3.06, a quick ratio of 1.29 and a debt-to-equity ratio of 0.48. Steel Dynamics has a 12-month low of $103.17 and a 12-month high of $208.47.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.10. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.62 billion. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.Steel Dynamics’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.36 EPS. On average, equities analysts anticipate that Steel Dynamics will post 9.01 earnings per share for the current year.

Institutional Investors Weigh In On Steel Dynamics

Hedge funds have recently bought and sold shares of the business. Prosperity Bancshares Inc bought a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $25,000. Cornerstone Planning Group LLC boosted its position in shares of Steel Dynamics by 1,636.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 180 shares in the last quarter. MV Capital Management Inc. bought a new stake in shares of Steel Dynamics in the 4th quarter worth approximately $27,000. Sound Income Strategies LLC grew its stake in shares of Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after buying an additional 150 shares during the last quarter. Finally, DV Equities LLC purchased a new stake in shares of Steel Dynamics in the 4th quarter worth approximately $33,000. Institutional investors own 82.41% of the company’s stock.

About Steel Dynamics

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.