Steel Dynamics, Inc. (NASDAQ:STLD) – Equities research analysts at KeyCorp reduced their FY2017 earnings estimates for shares of Steel Dynamics in a research report issued on Monday. KeyCorp analyst P. Gibbs now anticipates that the firm will post earnings of $1.77 per share for the year, down from their previous forecast of $1.80.

Several other equities research analysts also recently weighed in on STLD. Rosenblatt Securities began coverage on Steel Dynamics in a report on Wednesday, June 1st. They set a “buy” rating and a $21.00 price objective on the stock. Barclays PLC reissued an “overweight” rating on shares of Steel Dynamics in a report on Thursday. Jefferies Group reissued a “buy” rating and set a $31.00 price objective (up previously from $28.00) on shares of Steel Dynamics in a report on Friday, June 10th. Berenberg Bank set a $35.00 target price on Steel Dynamics and gave the stock a “buy” rating in a report on Tuesday. Finally, Zacks Investment Research raised Steel Dynamics from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a report on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $27.77.

Shares of Steel Dynamics (NASDAQ:STLD) traded up 0.24% during midday trading on Tuesday, hitting $24.91. The company’s stock had a trading volume of 671,680 shares. Steel Dynamics has a 1-year low of $15.32 and a 1-year high of $28.01. The company has a market cap of $6.07 billion, a P/E ratio of 508.37 and a beta of 1.70. The company has a 50-day moving average price of $24.95 and a 200 day moving average price of $24.56.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Monday, July 18th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.02. Steel Dynamics had a return on equity of 10.79% and a net margin of 0.17%. The company earned $2.02 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the prior year, the company earned $0.22 earnings per share.

A number of institutional investors have recently bought and sold shares of STLD. Vanguard Group Inc. increased its position in Steel Dynamics by 23.7% in the second quarter. Vanguard Group Inc. now owns 20,810,938 shares of the company’s stock valued at $509,869,000 after buying an additional 3,982,588 shares during the last quarter. Boston Partners increased its position in Steel Dynamics by 124.9% in the second quarter. Boston Partners now owns 11,042,580 shares of the company’s stock valued at $270,544,000 after buying an additional 6,132,303 shares during the last quarter. BlackRock Fund Advisors increased its position in Steel Dynamics by 6.2% in the second quarter. BlackRock Fund Advisors now owns 8,542,872 shares of the company’s stock valued at $209,300,000 after buying an additional 496,570 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Steel Dynamics by 6.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 8,266,562 shares of the company’s stock valued at $202,531,000 after buying an additional 508,330 shares during the last quarter. Finally, State Street Corp increased its position in Steel Dynamics by 3.7% in the second quarter. State Street Corp now owns 7,602,249 shares of the company’s stock valued at $186,255,000 after buying an additional 272,753 shares during the last quarter. Institutional investors and hedge funds own 82.42% of the company’s stock.

In other news, Director Jurgen Dr Kolb sold 17,900 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $27.20, for a total value of $486,880.00. Following the completion of the transaction, the director now directly owns 65,014 shares of the company’s stock, valued at $1,768,380.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Keith E. Busse sold 13,155 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $27.00, for a total value of $355,185.00. Following the completion of the transaction, the director now directly owns 1,006,894 shares of the company’s stock, valued at $27,186,138. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Wednesday, September 28th. Steel Dynamics’s dividend payout ratio is presently 1,120.00%.

About Steel Dynamics

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