Steel Dynamics, Inc. (NASDAQ:STLD) – Equities researchers at KeyCorp raised their FY2016 earnings estimates for Steel Dynamics in a research note issued on Monday. KeyCorp analyst P. Gibbs now expects that the firm will post earnings per share of $2.10 for the year, up from their prior forecast of $2.00.
STLD has been the subject of several other reports. Jefferies Group reaffirmed a “buy” rating on shares of Steel Dynamics in a research note on Wednesday, August 3rd. Credit Suisse Group AG raised their price objective on Steel Dynamics from $27.00 to $33.00 and gave the company an “outperform” rating in a research note on Wednesday, June 8th. Citigroup Inc. initiated coverage on Steel Dynamics in a research report on Monday, August 22nd. They set a “buy” rating and a $33.00 price target for the company. Bank of America Corp. downgraded 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. Finally, Zacks Investment Research raised Steel Dynamics from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $27.77.
Steel Dynamics (NASDAQ:STLD) opened at 24.72 on Wednesday. The company’s 50-day moving average price is $24.90 and its 200 day moving average price is $24.56. Steel Dynamics has a 1-year low of $15.32 and a 1-year high of $28.01. The firm has a market cap of $6.03 billion, a price-to-earnings ratio of 504.49 and a beta of 1.70.
Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Monday, July 18th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company earned $0.22 EPS.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. boosted its position in shares of Steel Dynamics by 54.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,800 shares of the company’s stock worth $118,000 after buying an additional 1,700 shares in the last quarter. Acrospire Investment Management LLC raised its stake in shares of Steel Dynamics by 137.5% in the second quarter. Acrospire Investment Management LLC now owns 5,699 shares of the company’s stock worth $140,000 after buying an additional 3,299 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Steel Dynamics by 1,676.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,843 shares of the company’s stock worth $143,000 after buying an additional 5,514 shares during the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Steel Dynamics by 991.5% in the second quarter. Loomis Sayles & Co. L P now owns 7,029 shares of the company’s stock worth $172,000 after buying an additional 6,385 shares during the last quarter. Finally, North Point Portfolio Managers Corp OH acquired a new stake in shares of Steel Dynamics during the second quarter worth about $203,000. Institutional investors own 82.42% of the company’s stock.
In other Steel Dynamics news, Director Keith E. Busse sold 13,155 shares of the business’s 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 in the company, valued at $27,186,138. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jurgen Dr Kolb sold 1,000 shares of the business’s stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $26.50, for a total value of $26,500.00. Following the transaction, the director now owns 65,014 shares in the company, valued at approximately $1,722,871. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Wednesday, September 28th. Steel Dynamics’s payout ratio is currently 1,120.00%.
Steel Dynamics Company Profile
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