Steel Dynamics (STLD) Cut to “Strong Sell” at BidaskClub

BidaskClub lowered shares of Steel Dynamics (NASDAQ:STLD) from a sell rating to a strong sell rating in a report released on Saturday morning, BidAskClub reports.

A number of other equities research analysts also recently commented on the company. Credit Suisse Group raised Steel Dynamics from a neutral rating to an outperform rating in a research report on Tuesday, January 8th. They noted that the move was a valuation call. ValuEngine raised Steel Dynamics from a strong sell rating to a sell rating in a research report on Thursday, January 10th. Cowen initiated coverage on Steel Dynamics in a research report on Tuesday, January 8th. They issued a market perform rating and a $32.00 price objective for the company. Finally, Zacks Investment Research raised Steel Dynamics from a sell rating to a hold rating in a research report on Wednesday, March 6th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $48.89.

Shares of NASDAQ:STLD opened at $34.06 on Friday. The firm has a market capitalization of $7.52 billion, a PE ratio of 6.20, a price-to-earnings-growth ratio of 0.72 and a beta of 1.39. The company has a quick ratio of 2.13, a current ratio of 3.96 and a debt-to-equity ratio of 0.62. Steel Dynamics has a 52 week low of $28.91 and a 52 week high of $52.10.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, January 22nd. The basic materials company reported $1.31 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.06. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.93 billion. Steel Dynamics had a return on equity of 35.44% and a net margin of 10.65%. The business’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 earnings per share. On average, research analysts anticipate that Steel Dynamics will post 3.93 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Sunday, March 31st were issued a $0.24 dividend. The ex-dividend date of this dividend was Friday, March 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.82%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.19. Steel Dynamics’s dividend payout ratio (DPR) is presently 17.49%.

A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in Steel Dynamics by 3.4% in the fourth quarter. BlackRock Inc. now owns 23,894,257 shares of the basic materials company’s stock valued at $717,782,000 after acquiring an additional 777,025 shares during the last quarter. Vanguard Group Inc boosted its holdings in Steel Dynamics by 4.3% in the third quarter. Vanguard Group Inc now owns 21,357,596 shares of the basic materials company’s stock valued at $965,150,000 after acquiring an additional 882,061 shares during the last quarter. Norges Bank acquired a new position in Steel Dynamics in the fourth quarter valued at $146,724,000. Dimensional Fund Advisors LP boosted its holdings in Steel Dynamics by 7.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,472,381 shares of the basic materials company’s stock valued at $134,353,000 after acquiring an additional 309,961 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its holdings in Steel Dynamics by 2,996.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,061,799 shares of the basic materials company’s stock valued at $135,000 after acquiring an additional 3,930,619 shares during the last quarter. Hedge funds and other institutional investors own 82.55% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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