Is Steel Dynamics (NASDAQ:STLD) a Stock One Should Sell Following Today’s Morgan Stanley Downgrade?

September 17, 2017 - By Richard Conner

  Is Steel Dynamics (NASDAQ:STLD) a Stock One Should Sell Following Today’s Morgan Stanley Downgrade?

Investors sentiment increased to 0.96 in Q4 2016. Its up 0.05, from 0.91 in 2016Q3. It is positive, as 28 investors sold Steel Dynamics, Inc. shares while 162 reduced holdings. 82 funds opened positions while 101 raised stakes. 201.62 million shares or 6.17% more from 189.89 million shares in 2016Q3 were reported.

Mark Sheptoff Financial Planning Ltd Liability Com accumulated 500 shares. Capstone Invest Ltd owns 11,000 shares or 0.01% of their US portfolio. Plante Moran Fin Advsr Ltd Llc invested 0.02% in Steel Dynamics, Inc. (NASDAQ:STLD). Price T Rowe Assoc Inc Md has 0% invested in Steel Dynamics, Inc. (NASDAQ:STLD). Huntington Natl Bank holds 0% or 779 shares. Zacks Inv Mngmt owns 140,133 shares or 0.14% of their US portfolio. Global X Mngmt Communication Ltd Co accumulated 3,405 shares. Metropolitan Life Insur Company reported 228,957 shares. Art Limited Liability reported 0.26% in Steel Dynamics, Inc. (NASDAQ:STLD). Thrivent Financial For Lutherans reported 0.54% stake. Teachers Retirement Systems Of The State Of Kentucky, Kentucky-based fund reported 56,000 shares. Impact Advisors Ltd Co owns 42,640 shares. Ameritas Inv Prtnrs, a Nebraska-based fund reported 94,458 shares. Michigan-based State Treasurer State Of Michigan has invested 0.03% in Steel Dynamics, Inc. (NASDAQ:STLD). First Tru Advisors L P invested in 252,171 shares.

Steel Dynamics (NASDAQ:STLD) Receives a Downgrade

In a note shared with investors and clients on Tuesday morning, stock analysts at Morgan Stanley’s equity research division decreased the rating for shares of Steel Dynamics (NASDAQ:STLD) to a “Hold”. They now have a key TP of $33.0 on STLD shares, equating to -1.02 % more downside.

Investors sentiment increased to 0.96 in Q4 2016. Its up 0.05, from 0.91 in 2016Q3. It is positive, as 28 investors sold Steel Dynamics, Inc. shares while 162 reduced holdings. 82 funds opened positions while 101 raised stakes. 201.62 million shares or 6.17% more from 189.89 million shares in 2016Q3 were reported.

Mark Sheptoff Financial Planning Ltd Liability Com accumulated 500 shares. Capstone Invest Ltd owns 11,000 shares or 0.01% of their US portfolio. Plante Moran Fin Advsr Ltd Llc invested 0.02% in Steel Dynamics, Inc. (NASDAQ:STLD). Price T Rowe Assoc Inc Md has 0% invested in Steel Dynamics, Inc. (NASDAQ:STLD). Huntington Natl Bank holds 0% or 779 shares. Zacks Inv Mngmt owns 140,133 shares or 0.14% of their US portfolio. Global X Mngmt Communication Ltd Co accumulated 3,405 shares. Metropolitan Life Insur Company reported 228,957 shares. Art Limited Liability reported 0.26% in Steel Dynamics, Inc. (NASDAQ:STLD). Thrivent Financial For Lutherans reported 0.54% stake. Teachers Retirement Systems Of The State Of Kentucky, Kentucky-based fund reported 56,000 shares. Impact Advisors Ltd Co owns 42,640 shares. Ameritas Inv Prtnrs, a Nebraska-based fund reported 94,458 shares. Michigan-based State Treasurer State Of Michigan has invested 0.03% in Steel Dynamics, Inc. (NASDAQ:STLD). First Tru Advisors L P invested in 252,171 shares.

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

Among 15 analysts covering Steel Dynamics Inc. (NASDAQ:STLD), 11 have Buy rating, 0 Sell and 4 Hold. Therefore 73% are positive. Steel Dynamics Inc. has $4800 highest and $21 lowest target. $35.33’s average target is 5.97% above currents $33.34 stock price. Steel Dynamics Inc. had 53 analyst reports since July 22, 2015 according to SRatingsIntel. The firm earned “Buy” rating on Wednesday, October 26 by Bank of America. The rating was maintained by Cowen & Co with “Buy” on Monday, July 17. The stock has “Buy” rating by Jefferies on Friday, June 23. The firm has “Overweight” rating given on Tuesday, January 12 by Barclays Capital. The stock has “Buy” rating by Jefferies on Wednesday, January 13. The firm earned “Hold” rating on Monday, November 14 by Berenberg. The rating was maintained by Deutsche Bank on Friday, June 23 with “Buy”. The firm has “Hold” rating given on Tuesday, September 1 by TheStreet. Macquarie Research downgraded the shares of STLD in report on Tuesday, November 29 to “Neutral” rating. Jefferies maintained Steel Dynamics, Inc. (NASDAQ:STLD) on Wednesday, August 30 with “Buy” rating.

The stock decreased 0.15% or $0.05 on September 15, reaching $33.34. About 4.43M shares traded or 61.68% up from the average. Steel Dynamics, Inc. (NASDAQ:STLD) has risen 44.39% since September 17, 2016 and is uptrending. It has outperformed by 27.69% the S&P500.

Analysts expect Steel Dynamics, Inc. (NASDAQ:STLD) to report $0.74 EPS on October, 18.They anticipate $0.09 EPS change or 13.85 % from last quarter’s $0.65 EPS. STLD’s profit would be $177.56 million giving it 11.26 P/E if the $0.74 EPS is correct. After having $0.63 EPS previously, Steel Dynamics, Inc.’s analysts see 17.46 % EPS growth.

Steel Dynamics, Inc. is a steel producing and a metal recycling company. The company has market cap of $8.00 billion. The Firm 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. It has a 15.29 P/E ratio. The Company’s divisions include steel operations, metals recycling operations, steel fabrication activities and Other Operations.

More recent Steel Dynamics, Inc. (NASDAQ:STLD) news were published by: Nasdaq.com which released: “Steel Dynamics Completes Sale of $350M Senior Notes Due 2025” on September 14, 2017. Also Prnewswire.com published the news titled: “Steel Dynamics Announces Tender Offer for any and all of its 6.375% Senior …” on September 06, 2017. Prnewswire.com‘s news article titled: “Steel Dynamics Announces Completion of Note Offering” with publication date: September 13, 2017 was also an interesting one.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.