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Steel Dynamics, Inc. (NASDAQ:STLD) has been downgraded to Hold in a report by Zacks Investment Research today.

Zacks Investment Research has downgraded Steel Dynamics, Inc. (NASDAQ:STLD) to Hold in a report released on 5/25/2017.

Just yesterday Steel Dynamics, Inc. (NASDAQ:STLD) traded 1.79% higher at $34.99. The company’s 50-day moving average is $34.72 and its 200-day moving average is $34.98. The last closing price is up 9.93% from the 200-day moving average, compared to the S&P 500 which has increased 0.02% over the same time period. 917,824 shares of the stock traded hands, down from an average trading volume of 2,769,000

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Steel Dynamics, Inc. (NASDAQ:STLD)

Steel Dynamics, Inc. has a 52 week low of $25.96 and a 52 week high of $40.17 with a P/E ratio of 17.66 The company’s market cap is currently $0.

In addition to Zacks Investment Research reporting its stock price target, a total of 16 brokers have issued a research note on the company. The average stock price target is $27.63 with 3 brokers rating the stock a strong buy, 11 brokers rating the stock a buy, 2 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.

General Information About Steel Dynamics, Inc. (NASDAQ:STLD)

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. It offers a range of steel products, such as sheet products, long products and steel finishing. The steel operations segment includes Butler Flat Roll Division, Columbus Flat Roll Division, The Techs galvanizing lines, Structural and Rail Division, Engineered Bar Products Division, Roanoke Bar Division, Steel of West Virginia and Iron Dynamics. The metals recycling operations segment consists of OmniSource Corporation. The fabrication operations produce steel building components. The Other Operations segment consists of subsidiary operations and smaller joint ventures.

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