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

September 17, 2017 - By Dolores Ford

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

Investors sentiment increased to 0.96 in 2016 Q4. 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.

Corecommodity Management Lc reported 0.95% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). Us State Bank De reported 46,621 shares stake. Glg Prtnrs L P has invested 0.03% in Steel Dynamics, Inc. (NASDAQ:STLD). Vident Advisory Ltd Liability owns 90,677 shares or 0.39% of their US portfolio. Moreover, Van Eck Assoc has 0.52% invested in Steel Dynamics, Inc. (NASDAQ:STLD). Profund Advsrs Ltd Liability Corp holds 0.09% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 54,542 shares. Stevens Cap Mngmt L P accumulated 149,464 shares. Ibm Retirement Fund owns 18,722 shares. Cambridge Investment Rech Advsr holds 0.01% in Steel Dynamics, Inc. (NASDAQ:STLD) or 12,496 shares. Legg Mason Asset (Japan) holds 1.61% or 39,600 shares. Moreover, Ancora Advsr Ltd Liability has 0.01% invested in Steel Dynamics, Inc. (NASDAQ:STLD). Bancorporation Of America Corp De owns 1.38 million shares for 0.01% of their portfolio. New Jersey-based Blackrock Inv Mngmt Limited Liability Corporation has invested 0.04% in Steel Dynamics, Inc. (NASDAQ:STLD). Alliancebernstein L P holds 262,062 shares. Brave Asset Mngmt Inc holds 12,500 shares or 0.28% of its portfolio.

Steel Dynamics (NASDAQ:STLD) Receives a Downgrade

Morgan Stanley has downgraded shares of Steel Dynamics (NASDAQ:STLD) to a “Hold” rating in a research note revealed to clients on 12 September. The firm now has a $33.0 TP on shares. Morgan Stanley’s TP suggests a possibly downside of -1.02 % from the current stock price of the stock.

Investors sentiment increased to 0.96 in 2016 Q4. 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.

Corecommodity Management Lc reported 0.95% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD). Us State Bank De reported 46,621 shares stake. Glg Prtnrs L P has invested 0.03% in Steel Dynamics, Inc. (NASDAQ:STLD). Vident Advisory Ltd Liability owns 90,677 shares or 0.39% of their US portfolio. Moreover, Van Eck Assoc has 0.52% invested in Steel Dynamics, Inc. (NASDAQ:STLD). Profund Advsrs Ltd Liability Corp holds 0.09% of its portfolio in Steel Dynamics, Inc. (NASDAQ:STLD) for 54,542 shares. Stevens Cap Mngmt L P accumulated 149,464 shares. Ibm Retirement Fund owns 18,722 shares. Cambridge Investment Rech Advsr holds 0.01% in Steel Dynamics, Inc. (NASDAQ:STLD) or 12,496 shares. Legg Mason Asset (Japan) holds 1.61% or 39,600 shares. Moreover, Ancora Advsr Ltd Liability has 0.01% invested in Steel Dynamics, Inc. (NASDAQ:STLD). Bancorporation Of America Corp De owns 1.38 million shares for 0.01% of their portfolio. New Jersey-based Blackrock Inv Mngmt Limited Liability Corporation has invested 0.04% in Steel Dynamics, Inc. (NASDAQ:STLD). Alliancebernstein L P holds 262,062 shares. Brave Asset Mngmt Inc holds 12,500 shares or 0.28% of its portfolio.

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. TheStreet upgraded the stock to “Hold” rating in Tuesday, September 1 report. Cowen & Co maintained Steel Dynamics, Inc. (NASDAQ:STLD) on Friday, October 21 with “Outperform” rating. The rating was maintained by BMO Capital Markets on Tuesday, June 27 with “Buy”. The firm has “Buy” rating given on Monday, August 22 by Citigroup. The firm has “Outperform” rating by Credit Suisse given on Wednesday, May 24. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) earned “Buy” rating by BB&T Capital on Tuesday, November 24. The stock of Steel Dynamics, Inc. (NASDAQ:STLD) has “Buy” rating given on Wednesday, January 13 by Jefferies. The firm earned “Buy” rating on Friday, June 23 by Deutsche Bank. The firm has “Overweight” rating given on Wednesday, July 13 by Barclays Capital. On Wednesday, January 6 the stock rating was initiated by Rosenblatt with “Buy”.

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 await Steel Dynamics, Inc. (NASDAQ:STLD) to report earnings on October, 18. They expect $0.74 earnings per share, up 13.85 % or $0.09 from last year’s $0.65 per share. STLD’s profit will be $177.56 million for 11.26 P/E if the $0.74 EPS becomes a reality. After $0.63 actual earnings per share reported by Steel Dynamics, Inc. for the previous quarter, Wall Street now forecasts 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 Completion of Note Offering” on September 13, 2017. Prnewswire.com‘s news article titled: “Steel Dynamics Announces Tender Offer for any and all of its 6.375% Senior …” with publication date: September 06, 2017 was also an interesting one.

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