Steel Dynamics, Inc. (NASDAQ:STLD) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other equities analysts have also weighed in on STLD. Zacks Investment Research lowered shares of Steel Dynamics from a “buy” rating to a “hold” rating in a report on Wednesday, March 8th. Berenberg Bank reiterated a “buy” rating and issued a $44.00 target price on shares of Steel Dynamics in a report on Thursday, March 16th. Jefferies Group LLC reiterated a “buy” rating and issued a $45.00 target price on shares of Steel Dynamics in a report on Thursday, March 16th. Macquarie reiterated a “neutral” rating on shares of Steel Dynamics in a report on Monday, March 20th. Finally, Deutsche Bank AG boosted their target price on shares of Steel Dynamics from $42.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, March 21st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $37.91.

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

Steel Dynamics (NASDAQ:STLD) traded up 1.00% on Friday, hitting $33.18. 5,442,821 shares of the company’s stock traded hands. Steel Dynamics has a one year low of $22.79 and a one year high of $40.17. The stock has a market cap of $8.02 billion, a PE ratio of 15.67 and a beta of 1.29. The stock has a 50-day moving average of $34.81 and a 200-day moving average of $35.53.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, April 19th. The basic materials company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.19 billion. Steel Dynamics had a net margin of 6.19% and a return on equity of 21.77%. Steel Dynamics’s quarterly revenue was up 36.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 earnings per share. On average, equities analysts forecast that Steel Dynamics will post $3.01 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 30th will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Wednesday, June 28th. Steel Dynamics’s payout ratio is currently 29.25%.

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A number of large investors have recently made changes to their positions in the company. Jaffetilchin Investment Partners LLC increased its stake in shares of Steel Dynamics by 0.6% in the first quarter. Jaffetilchin Investment Partners LLC now owns 10,781 shares of the basic materials company’s stock valued at $375,000 after buying an additional 65 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake in shares of Steel Dynamics by 1.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 10,424 shares of the basic materials company’s stock valued at $362,000 after buying an additional 154 shares during the last quarter. State Treasurer State of Michigan increased its stake in shares of Steel Dynamics by 0.3% in the first quarter. State Treasurer State of Michigan now owns 98,500 shares of the basic materials company’s stock valued at $3,424,000 after buying an additional 300 shares during the last quarter. Greenwood Capital Associates LLC increased its stake in shares of Steel Dynamics by 5.7% in the first quarter. Greenwood Capital Associates LLC now owns 6,015 shares of the basic materials company’s stock valued at $209,000 after buying an additional 325 shares during the last quarter. Finally, Keybank National Association OH increased its stake in shares of Steel Dynamics by 2.0% in the fourth quarter. Keybank National Association OH now owns 20,565 shares of the basic materials company’s stock valued at $732,000 after buying an additional 394 shares during the last quarter. 83.58% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

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