Steel Dynamics (NASDAQ:STLD) was downgraded by analysts at BMO Capital Markets to a “hold” rating in a research report issued on Friday, TipRanks reports. They currently have a $30.00 price target on the basic materials company’s stock. BMO Capital Markets’ target price would indicate a potential downside of 5.12% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Bank of America lowered their target price on shares of Steel Dynamics from $34.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. BidaskClub raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday. Goldman Sachs Group lowered their target price on shares of Steel Dynamics from $44.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. ValuEngine raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Credit Suisse Group downgraded shares of Steel Dynamics from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $38.00 to $29.00 in a research report on Thursday, May 23rd. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $37.27.

Shares of NASDAQ STLD traded down $0.29 during mid-day trading on Friday, reaching $31.62. The company had a trading volume of 2,474,400 shares, compared to its average volume of 2,035,318. Steel Dynamics has a twelve month low of $25.02 and a twelve month high of $48.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.40 and a current ratio of 4.35. The stock has a market capitalization of $7.01 billion, a PE ratio of 5.76, a price-to-earnings-growth ratio of 0.84 and a beta of 1.64. The stock’s 50 day moving average is $28.59 and its 200-day moving average is $31.00.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, July 22nd. The basic materials company reported $0.87 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.02). Steel Dynamics had a return on equity of 28.50% and a net margin of 9.11%. The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the company posted $1.53 earnings per share. The company’s revenue was down 10.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Steel Dynamics will post 3.16 EPS for the current year.

In other Steel Dynamics news, SVP Miguel Alvarez bought 8,920 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $27.72 per share, with a total value of $247,262.40. Following the completion of the transaction, the senior vice president now directly owns 700 shares of the company’s stock, valued at approximately $19,404. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.90% of the company’s stock.

A number of institutional investors have recently bought and sold shares of STLD. Empirical Finance LLC boosted its holdings in Steel Dynamics by 1.1% during the second quarter. Empirical Finance LLC now owns 32,950 shares of the basic materials company’s stock valued at $995,000 after acquiring an additional 363 shares during the period. Magnus Financial Group LLC boosted its holdings in Steel Dynamics by 4.5% during the first quarter. Magnus Financial Group LLC now owns 9,299 shares of the basic materials company’s stock valued at $328,000 after acquiring an additional 400 shares during the period. Rehmann Capital Advisory Group boosted its holdings in Steel Dynamics by 96.9% during the second quarter. Rehmann Capital Advisory Group now owns 1,016 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 500 shares during the period. Nissay Asset Management Corp Japan ADV boosted its holdings in Steel Dynamics by 2.9% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 19,076 shares of the basic materials company’s stock valued at $673,000 after acquiring an additional 536 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in Steel Dynamics by 1.4% during the second quarter. Municipal Employees Retirement System of Michigan now owns 42,440 shares of the basic materials company’s stock valued at $1,282,000 after acquiring an additional 590 shares during the period. 80.04% of the stock is currently owned by hedge funds and other institutional investors.

About Steel Dynamics

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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