Is Steel Dynamics (NASDAQ:STLD) Worth Your Time and Dime Following a Morgan Stanley Downgrade?

September 17, 2017 - By Nellie Frank

  Is Steel Dynamics (NASDAQ:STLD) Worth Your Time and Dime Following a Morgan Stanley Downgrade?

Investors sentiment increased to 0.96 in Q4 2016. Its up 0.05, from 0.91 in 2016Q3. It improved, 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.

Banced owns 8,702 shares. Piermont Cap Mgmt accumulated 15,270 shares. Jennison Assoc Limited has invested 0.03% in Steel Dynamics, Inc. (NASDAQ:STLD). 1832 Asset L P stated it has 0% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). Oakbrook Limited Liability Corp has invested 0.06% in Steel Dynamics, Inc. (NASDAQ:STLD). Citadel Advsrs Llc, Illinois-based fund reported 716,198 shares. Wellington Mgmt Gru Llp reported 2.92 million shares. Citigroup holds 0.02% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 604,401 shares. Redwood Invests Ltd Liability Company reported 592,669 shares. Ajo Lp owns 0.01% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 100,742 shares. Art Advisors Limited Co has 120,750 shares. M&T National Bank & Trust Corp accumulated 18,155 shares or 0% of the stock. Glenmede Tru Na accumulated 12,300 shares or 0% of the stock. Airain Ltd reported 25,705 shares. Clarivest Asset Mngmt Ltd invested in 1.15 million shares or 1.09% of the stock.

Steel Dynamics (NASDAQ:STLD) Receives a Downgrade

In a note revealed on Tuesday morning, Morgan Stanley announced a downgrade to shares of Steel Dynamics (NASDAQ:STLD) to a Hold rating. The firm has a $33.0 target price per share on the stock.

Investors sentiment increased to 0.96 in Q4 2016. Its up 0.05, from 0.91 in 2016Q3. It improved, 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.

Banced owns 8,702 shares. Piermont Cap Mgmt accumulated 15,270 shares. Jennison Assoc Limited has invested 0.03% in Steel Dynamics, Inc. (NASDAQ:STLD). 1832 Asset L P stated it has 0% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). Oakbrook Limited Liability Corp has invested 0.06% in Steel Dynamics, Inc. (NASDAQ:STLD). Citadel Advsrs Llc, Illinois-based fund reported 716,198 shares. Wellington Mgmt Gru Llp reported 2.92 million shares. Citigroup holds 0.02% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 604,401 shares. Redwood Invests Ltd Liability Company reported 592,669 shares. Ajo Lp owns 0.01% invested in Steel Dynamics, Inc. (NASDAQ:STLD) for 100,742 shares. Art Advisors Limited Co has 120,750 shares. M&T National Bank & Trust Corp accumulated 18,155 shares or 0% of the stock. Glenmede Tru Na accumulated 12,300 shares or 0% of the stock. Airain Ltd reported 25,705 shares. Clarivest Asset Mngmt Ltd invested in 1.15 million shares or 1.09% of the stock.

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 company was upgraded on Tuesday, September 1 by TheStreet. Rosenblatt maintained Steel Dynamics, Inc. (NASDAQ:STLD) rating on Tuesday, May 10. Rosenblatt has “Neutral” rating and $24 target. The stock has “Outperform” rating by Credit Suisse on Wednesday, March 23. Rosenblatt initiated the shares of STLD in report on Wednesday, January 6 with “Buy” rating. The company was upgraded on Wednesday, October 26 by Bank of America. On Monday, November 14 the stock rating was downgraded by Rosenblatt to “Neutral”. As per Monday, November 14, the company rating was downgraded by Berenberg. The rating was maintained by Cowen & Co on Friday, October 21 with “Outperform”. Citigroup initiated Steel Dynamics, Inc. (NASDAQ:STLD) on Monday, August 22 with “Buy” rating. Jefferies maintained Steel Dynamics, Inc. (NASDAQ:STLD) on Friday, June 23 with “Buy” rating.

The stock decreased 0.15% or $0.05 on September 15, reaching $33.34. About 4.43 million 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.

Wall Street await Steel Dynamics, Inc. (NASDAQ:STLD) to release earnings on October, 18. Analysts forecast EPS of $0.74, up exactly $0.09 or 13.85 % from 2014’s $0.65 EPS. The expected STLD’s profit could reach $177.56 million giving the stock 11.26 P/E in the case that $0.74 earnings per share is reported. After posting $0.63 EPS for the previous quarter, Steel Dynamics, Inc.’s analysts now forecast 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: Prnewswire.com which released: “Steel Dynamics Announces Tender Offer for any and all of its 6.375% Senior …” on September 06, 2017. Also Prnewswire.com published the news titled: “Steel Dynamics Announces Completion of Note Offering” on September 13, 2017. Nasdaq.com‘s news article titled: “Steel Dynamics Completes Sale of $350M Senior Notes Due 2025” with publication date: September 14, 2017 was also an interesting one.

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