Will Investors Now Sell Steel Dynamics (NASDAQ:STLD) Stock Following Today’s, KeyBanc Capital Mkts Downgrades?

June 14, 2018 - By Vivian Currie

Steel Dynamics, Inc. (NASDAQ:STLD) Logo

Investors sentiment increased to 1.08 in Q1 2018. Its up 0.11, from 0.97 in 2017Q4. It increased, as 33 investors sold Steel Dynamics, Inc. shares while 153 reduced holdings. 52 funds opened positions while 149 raised stakes. 184.42 million shares or 2.34% less from 188.84 million shares in 2017Q4 were reported.

Vanguard Group Inc has invested 0.04% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). Ubs Oconnor Ltd Liability Corporation reported 0% in Steel Dynamics, Inc. (NASDAQ:STLD). Credit Agricole S A has 4,487 shares. 4.15 million were reported by Dimensional Fund Limited Partnership. Element Cap Mngmt Ltd Company invested in 16,121 shares. Utah Retirement holds 0.04% or 42,341 shares. Redwood Invs Limited Liability Corp holds 247,419 shares or 0.81% of its portfolio. Boston Advsr Ltd Co invested in 514,438 shares. Ameriprise Fin holds 2.25 million shares or 0.04% of its portfolio. Glenmede Na accumulated 50,140 shares or 0.01% of the stock. Cibc Ww Markets has 0.01% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 39,831 shares. British Columbia Invest Management Corporation holds 0.07% or 194,204 shares. Ameritas Partners Incorporated stated it has 0.19% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). Geode Capital Mngmt Ltd Limited Liability Company, Massachusetts-based fund reported 2.33 million shares. Pointstate Lp stated it has 0.12% in Steel Dynamics, Inc. (NASDAQ:STLD).

Since May 31, 2018, it had 0 insider purchases, and 4 insider sales for $1.24 million activity. 2,804 shares valued at $140,825 were sold by Wagler Theresa E on Thursday, May 31. Another trade for 3,590 shares valued at $180,653 was made by BUSSE KEITH E on Monday, June 11.

Steel Dynamics (NASDAQ:STLD) Receives a Downgrade

In an analyst note sent to investors and clients on Thursday morning, KeyBanc Capital Mkts lowered shares of Steel Dynamics (NASDAQ:STLD) to a lower Sector Weight rating from the previous Overweight rating.

Steel Dynamics, Inc. (NASDAQ:STLD) Ratings Coverage

Among 12 analysts covering Steel Dynamics (NASDAQ:STLD), 9 have Buy rating, 0 Sell and 3 Hold. Therefore 75% are positive. Steel Dynamics has $60.0 highest and $43.0 lowest target. $53.45’s average target is 9.41% above currents $48.8525 stock price. Steel Dynamics had 18 analyst reports since December 18, 2017 according to SRatingsIntel. Jefferies maintained Steel Dynamics, Inc. (NASDAQ:STLD) rating on Tuesday, January 23. Jefferies has “Buy” rating and $54.0 target. On Tuesday, January 9 the stock rating was maintained by Jefferies with “Buy”. The firm has “Buy” rating given on Monday, December 18 by Cowen & Co. The company was maintained on Tuesday, April 17 by Morgan Stanley. The firm earned “Buy” rating on Wednesday, January 24 by Cowen & Co. The firm earned “Outperform” rating on Wednesday, January 24 by Credit Suisse. Longbow upgraded the shares of STLD in report on Wednesday, December 20 to “Buy” rating. The firm has “Buy” rating given on Thursday, April 19 by Cowen & Co. Bank of America maintained the stock with “Buy” rating in Monday, January 8 report. Deutsche Bank maintained it with “Buy” rating and $53 target in Thursday, March 29 report.

The stock decreased 0.67% or $0.3275 during the last trading session, reaching $48.8525. About 1.59M shares traded. Steel Dynamics, Inc. (NASDAQ:STLD) has risen 43.55% since June 14, 2017 and is uptrending. It has outperformed by 30.98% the S&P500.

Analysts await Steel Dynamics, Inc. (NASDAQ:STLD) to report earnings on July, 18. They expect $1.39 EPS, up 120.63 % or $0.76 from last year’s $0.63 per share. STLD’s profit will be $327.95 million for 8.79 P/E if the $1.39 EPS becomes a reality. After $0.96 actual EPS reported by Steel Dynamics, Inc. for the previous quarter, Wall Street now forecasts 44.79 % EPS growth.

Steel Dynamics, Inc., together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company has market cap of $11.53 billion. The firm operates through Steel Operations, Metals Recycling Operations, Steel Fabrication Operations, and Other divisions. It has a 13.96 P/E ratio. The Steel Operations segment provides a range of sheet steel products, such as hot roll, cold roll, and coated steel products; structural steel beams and pilings to construction market; various rail products for the railroad industry; rounds, round-cornered squares, and round engineered bars; threaded rod products, and cold drawn and heat treated bars; angles, merchant rounds, flats and channels, and reinforcing bar; and beams, channels, and specialty steel sections.

More recent Steel Dynamics, Inc. (NASDAQ:STLD) news were published by: Benzinga.com which released: “Benzinga’s Top Upgrades, Downgrades For June 14, 2018” on June 14, 2018. Also Finance.Yahoo.com published the news titled: “US Steel Corporation Is Primed for a Massive Breakout” on June 13, 2018. 247Wallst.com‘s news article titled: “Top Analyst Upgrades and Downgrades: Capital One, Hewlett Packard Enterprises, Kohl’s, Roku, Spotify, Steel …” with publication date: June 14, 2018 was also an interesting one.

Steel Dynamics, Inc. (NASDAQ:STLD) Institutional Positions Chart

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