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Steel Dynamics (NASDAQ:STLD - Get Rating) was downgraded by equities researchers at The Goldman Sachs Group from a "buy" rating to a "neutral" rating in a note issued to investors on Tuesday, The Fly reports.

Several other analysts have also recently commented on the stock. StockNews.com started coverage on shares of Steel Dynamics in a research note on Thursday, March 31st. They issued a "buy" rating on the stock. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $95.00 to $117.00 and gave the stock an "overweight" rating in a research note on Thursday, March 24th. Zacks Investment Research cut shares of Steel Dynamics from a "strong-buy" rating to a "hold" rating and set a $82.00 target price on the stock. in a research report on Tuesday, May 24th. Finally, BMO Capital Markets upped their target price on shares of Steel Dynamics from $95.00 to $104.00 in a research report on Friday, April 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $89.00.

Shares of Steel Dynamics stock opened at $87.79 on Tuesday. The company has a market capitalization of $16.57 billion, a P/E ratio of 4.53 and a beta of 1.29. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.74 and a current ratio of 3.42. The company has a fifty day moving average of $83.86 and a 200 day moving average of $70.94. Steel Dynamics has a fifty-two week low of $50.54 and a fifty-two week high of $100.37.

Steel Dynamics (NASDAQ:STLD - Get Rating) last issued its earnings results on Wednesday, April 20th. The basic materials company reported $6.02 earnings per share for the quarter, topping the consensus estimate of $5.58 by $0.44. The company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.35 billion. Steel Dynamics had a net margin of 19.02% and a return on equity of 69.88%. Steel Dynamics's quarterly revenue was up 57.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.10 EPS. Analysts forecast that Steel Dynamics will post 21.52 EPS for the current year.

Steel Dynamics declared that its Board of Directors has approved a share buyback program on Monday, February 28th that authorizes the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to repurchase up to 8.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

In other Steel Dynamics news, SVP Christopher A. Graham sold 4,425 shares of the company's stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $76.51, for a total value of $338,556.75. The sale was disclosed in a filing with the SEC, which is available through this link. 5.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in Steel Dynamics by 1.1% during the third quarter. Dimensional Fund Advisors LP now owns 6,425,620 shares of the basic materials company's stock valued at $375,789,000 after acquiring an additional 67,683 shares during the last quarter. Millennium Management LLC lifted its position in Steel Dynamics by 19.4% during the third quarter. Millennium Management LLC now owns 1,907,985 shares of the basic materials company's stock valued at $111,579,000 after acquiring an additional 310,252 shares during the last quarter. Centiva Capital LP lifted its position in Steel Dynamics by 325.0% during the third quarter. Centiva Capital LP now owns 22,089 shares of the basic materials company's stock valued at $1,292,000 after acquiring an additional 16,892 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its position in Steel Dynamics by 20.6% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 88,042 shares of the basic materials company's stock valued at $5,494,000 after acquiring an additional 15,044 shares during the last quarter. Finally, Leavell Investment Management Inc. raised its holdings in shares of Steel Dynamics by 9.9% in the fourth quarter. Leavell Investment Management Inc. now owns 30,120 shares of the basic materials company's stock worth $1,877,000 after buying an additional 2,710 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.

About Steel Dynamics (Get Rating)

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.

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