Today Steel Dynamics (NASDAQ:STLD) Has Been Downgraded by Morgan Stanley to a Hold

September 17, 2017 - By Linda Rogers

  Today Steel Dynamics (NASDAQ:STLD) Has Been Downgraded by Morgan Stanley to a Hold

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.

Alabama-based Kistler has invested 0.02% in Steel Dynamics, Inc. (NASDAQ:STLD). Alliancebernstein Ltd Partnership invested in 262,062 shares. 94,956 were reported by Bowling Portfolio Ltd. 7.30 million were accumulated by State Street. New York-based Hudson Bay Mngmt L P has invested 0.01% in Steel Dynamics, Inc. (NASDAQ:STLD). Private Advisor Gru Lc invested in 0.04% or 34,797 shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Inv Mgmt invested in 0.01% or 15,600 shares. New York-based Ibm Retirement Fund has invested 0.03% in Steel Dynamics, Inc. (NASDAQ:STLD). Pinebridge Lp reported 195,646 shares. 821,748 are owned by Jennison Associate Limited Co. 182,354 were accumulated by Comerica Bank. Qs Invsts Lc invested 0.17% in Steel Dynamics, Inc. (NASDAQ:STLD). Scopus Asset Mgmt Ltd Partnership holds 350,000 shares. First Interstate Bancorp owns 921 shares for 0.01% of their portfolio. Archford Strategies Lc accumulated 0% or 27 shares.

Steel Dynamics (NASDAQ:STLD) Receives a Downgrade

Trading for shares of Steel Dynamics (NASDAQ:STLD) will be very interesting to watch, as Morgan Stanley cut the rating for the stock to a Hold. In addition to the ratings downgrade, Morgan Stanley analysts have given the shares a TP of $33.0 which is -1.02 % higher than before.

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.

Alabama-based Kistler has invested 0.02% in Steel Dynamics, Inc. (NASDAQ:STLD). Alliancebernstein Ltd Partnership invested in 262,062 shares. 94,956 were reported by Bowling Portfolio Ltd. 7.30 million were accumulated by State Street. New York-based Hudson Bay Mngmt L P has invested 0.01% in Steel Dynamics, Inc. (NASDAQ:STLD). Private Advisor Gru Lc invested in 0.04% or 34,797 shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Inv Mgmt invested in 0.01% or 15,600 shares. New York-based Ibm Retirement Fund has invested 0.03% in Steel Dynamics, Inc. (NASDAQ:STLD). Pinebridge Lp reported 195,646 shares. 821,748 are owned by Jennison Associate Limited Co. 182,354 were accumulated by Comerica Bank. Qs Invsts Lc invested 0.17% in Steel Dynamics, Inc. (NASDAQ:STLD). Scopus Asset Mgmt Ltd Partnership holds 350,000 shares. First Interstate Bancorp owns 921 shares for 0.01% of their portfolio. Archford Strategies Lc accumulated 0% or 27 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. Bank of America maintained Steel Dynamics, Inc. (NASDAQ:STLD) on Friday, July 21 with “Buy” rating. The rating was maintained by Jefferies on Thursday, September 17 with “Buy”. Credit Suisse maintained Steel Dynamics, Inc. (NASDAQ:STLD) on Wednesday, March 23 with “Outperform” rating. The firm earned “Buy” rating on Tuesday, March 8 by Berenberg. The firm earned “Outperform” rating on Wednesday, October 21 by Cowen & Co. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) has “Outperform” rating given on Friday, October 21 by Cowen & Co. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) has “Buy” rating given on Wednesday, October 26 by Bank of America. Barclays Capital maintained Steel Dynamics, Inc. (NASDAQ:STLD) rating on Tuesday, April 19. Barclays Capital has “Overweight” rating and $27 target. The company was initiated on Wednesday, October 14 by Berenberg. The rating was maintained by Deutsche Bank with “Buy” on Monday, December 5.

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.

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 $177.56M 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: 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.

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.