Steel Dynamics (STLD) is Downgraded by Macquarie to Neutral

Steel Dynamics (STLD) was Downgraded by Macquarie to ” Neutral”. Earlier the firm had a rating of “Outperform ” on the company shares. Macquarie advised their investors in a research report released on Nov 29, 2016.

Many Wall Street Analysts have commented on Steel Dynamics. Steel Dynamics was Downgraded by Berenberg to ” Hold” on Nov 14, 2016. Steel Dynamics was Downgraded by Rosenblatt to ” Neutral” on Nov 14, 2016. Steel Dynamics was Upgraded by BofA/Merrill to ” Buy” on Oct 26, 2016.

On the company’s financial health, Steel Dynamics reported $0.65 EPS for the quarter, based on the information available during the earnings call on Oct 19, 2016. Analyst had a consensus estimate of $0.65. The company had revenue of $2101.30 million for the quarter, compared to analysts expectations of $2061.01 million. The company’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.

Steel Dynamics opened for trading at $35.93 and hit $35.9725 on the upside on Friday, eventually ending the session at $35.78, with a gain of 0.11% or 0.04 points. The heightened volatility saw the trading volume jump to 13,97,095 shares. Company has a market cap of $8,724 M.

In a different news, on Nov 2, 2016, Keith E Busse (director) sold 2,000 shares at $27.33 per share price. According to the SEC, on Jul 27, 2016, Jurgen Dr Kolb (director) sold 17,900 shares at $26.85 per share price. On Aug 28, 2015, Richard P Jr Teets (Executive Vice President) purchased 6,000 shares at $18.75 per share price, according to the Form-4 filing with the securities and exchange commission.

Steel Dynamics Inc. (SDI) is a steel producing and a metal recycling company. The Company operates in three segments: steel operations metals recycling and ferrous resources operations and steel fabrication operations. The Company offers hot roll cold roll galvanized galvanneal Galvalume Galfan and painted sheet steel; a range of structural steel beams and rails; engineered steel of various sizes and chemistries; and various merchant-bar products rounds angles flats and channels. The Company also offers steel finishing and fabrication services. In the metals recycling operations of its metals recycling and ferrous resources segment its products include an array of both ferrous and non-ferrous scrap processing scrap management transportation and brokerage products and services. Its steel fabrication segment produces steel joists and steel decking materials.

Steel Dynamics

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