KeyBanc Downgrades Steel Dynamics to Sector Weight

Brokerage firm KeyBanc Downgrades its rating on Steel Dynamics(NASDAQ:STLD). The shares have been rated Sector Weight. Previously, the analysts had a Overweight rating on the shares. The rating by KeyBanc was issued on Aug 19, 2016.

In a different note, On Jul 20, 2016, Bank of America said it Downgrades its rating on Steel Dynamics. The shares have been rated ‘Neutral’ by the firm. On Jul 13, 2016, Barclays said it Maintains its rating on Steel Dynamics. In the research note, the firm Raises the price-target to $27.00 per share. The shares have been rated ‘Overweight’ by the firm. On Jun 10, 2016, Jefferies said it Maintains its rating on Steel Dynamics. In the research note, the firm Raises the price-target to $28.00 per share. The shares have been rated ‘Buy’ by the firm. On Jun 8, 2016, Credit Suisse said it Maintains its rating on Steel Dynamics. In the research note, the firm Raises the price-target to $27.00 per share. The shares have been rated ‘Outperform’ by the firm.

Steel Dynamics (STLD) made into the market gainers list on Mondays trading session with the shares advancing 1.06% or 0.26 points. Due to strong positive momentum, the stock ended at $24.89, which is also near the day’s high of $25.015. The stock began the session at $24.76 and the volume stood at 11,42,041 shares. The 52-week high of the shares is $28.01 and the 52 week low is $15.32. The company has a current market capitalization of $6,067 M and it has 24,37,61,300 shares in outstanding.

Steel Dynamics(STLD) last announced its earnings results on Jul 18, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $2.02B. Analysts had an estimated revenue of $2.04B. Earnings per share were $0.58. Analysts had estimated an EPS of $0.56.

Several Insider Transactions has been reported to the SEC. On Aug 1, 2016, Keith E Busse (director) sold 13,155 shares at $27.00 per share price.Also, 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.

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