Steel Dynamics Inc. (NASDAQ:STLD) announced a quarterly dividend on Monday, September 19th. Investors of record on Friday, September 30th will be given a dividend of 0.14 per share on Friday, October 14th. This represents a $0.56 dividend on an annualized basis and a yield of 2.30%.

Steel Dynamics (NASDAQ:STLD) traded up 3.45% during midday trading on Monday, hitting $24.30. The stock had a trading volume of 3,926,262 shares. Steel Dynamics has a 1-year low of $15.32 and a 1-year high of $28.01. The company’s 50 day moving average is $25.42 and its 200 day moving average is $24.40. The company has a market cap of $5.92 billion, a price-to-earnings ratio of 495.92 and a beta of 1.70.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Monday, July 18th. The company reported $0.58 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.02. Steel Dynamics had a net margin of 0.17% and a return on equity of 10.79%. 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 business posted $0.22 EPS. On average, equities analysts anticipate that Steel Dynamics will post $2.08 earnings per share for the current fiscal year.

A number of analysts recently issued reports on the company. Zacks Investment Research raised Steel Dynamics from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Thursday, July 7th. Bank of America Corp. cut Steel Dynamics from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a research report on Wednesday, July 20th. Berenberg Bank reaffirmed a “buy” rating and issued a $35.00 price target on shares of Steel Dynamics in a research report on Tuesday, August 2nd. Citigroup Inc. assumed coverage on Steel Dynamics in a research report on Monday, August 22nd. They issued a “buy” rating and a $33.00 price target for the company. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $31.00 price target on shares of Steel Dynamics in a research report on Wednesday, July 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $27.86.

In other news, Director Jurgen Dr Kolb sold 1,000 shares of the stock in a transaction dated Monday, July 25th. The shares were sold at an average price of $26.50, for a total transaction of $26,500.00. Following the completion of the transaction, the director now directly owns 65,014 shares in the company, valued at approximately $1,722,871. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Keith E. Busse sold 13,155 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $27.00, for a total transaction of $355,185.00. Following the transaction, the director now owns 1,006,894 shares of the company’s stock, valued at $27,186,138. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.

Large investors have recently modified their holdings of the stock. BlackRock Fund Advisors increased its stake in shares of 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 period. BlackRock Institutional Trust Company N.A. increased its stake in shares of 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 period. State Street Corp increased its stake in shares of 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 period. Teachers Advisors Inc. increased its stake in shares of Steel Dynamics by 76.9% in the second quarter. Teachers Advisors Inc. now owns 1,089,893 shares of the company’s stock valued at $26,702,000 after buying an additional 473,655 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Steel Dynamics by 1,846.3% in the second quarter. American Century Companies Inc. now owns 747,153 shares of the company’s stock valued at $18,305,000 after buying an additional 708,764 shares during the period. Institutional investors and hedge funds own 82.54% of the company’s stock.

About Steel Dynamics

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