Steel Dynamics (STLD) Downgraded by BidaskClub

Steel Dynamics (NASDAQ:STLD) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday.

Other equities analysts have also issued research reports about the company. Zacks Investment Research upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. ValuEngine lowered Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Jefferies Group reiterated a “buy” rating and issued a $53.00 price target on shares of Steel Dynamics in a research report on Thursday, January 11th. Cowen set a $43.00 price target on Steel Dynamics and gave the company a “buy” rating in a research report on Monday, December 18th. Finally, Bank of America set a $51.00 price objective on Steel Dynamics and gave the stock a “buy” rating in a research report on Monday, January 8th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Steel Dynamics presently has an average rating of “Buy” and a consensus price target of $43.71.

Steel Dynamics (NASDAQ:STLD) opened at $46.57 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.35 and a quick ratio of 1.95. Steel Dynamics has a 1 year low of $32.15 and a 1 year high of $47.85. The firm has a market capitalization of $11,030.00, a price-to-earnings ratio of 21.46, a P/E/G ratio of 1.06 and a beta of 1.40.

Institutional investors and hedge funds have recently bought and sold shares of the company. Canada Pension Plan Investment Board raised its stake in shares of Steel Dynamics by 8.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 544,861 shares of the basic materials company’s stock worth $18,781,000 after purchasing an additional 41,400 shares in the last quarter. Global X MANAGEMENT CO LLC raised its stake in shares of Steel Dynamics by 21.3% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 15,728 shares of the basic materials company’s stock worth $542,000 after purchasing an additional 2,758 shares in the last quarter. APG Asset Management N.V. purchased a new stake in shares of Steel Dynamics during the 3rd quarter worth about $9,800,000. Prudential Financial Inc. raised its stake in shares of Steel Dynamics by 13.2% during the 3rd quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock worth $159,217,000 after purchasing an additional 539,480 shares in the last quarter. Finally, BW Gestao de Investimentos Ltda. raised its stake in shares of Steel Dynamics by 5.0% during the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 750,350 shares of the basic materials company’s stock worth $26,870,000 after purchasing an additional 35,777 shares in the last quarter. 83.36% of the stock is owned by institutional investors.

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About Steel Dynamics

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company 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. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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