Steel Dynamics, Inc. (NASDAQ:STLD) – Equities research analysts at KeyCorp upped their Q3 2017 EPS estimates for Steel Dynamics in a research note issued on Wednesday. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will earn $0.61 per share for the quarter, up from their prior forecast of $0.59. KeyCorp also issued estimates for Steel Dynamics’ FY2018 earnings at $2.37 EPS.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.63. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period in the prior year, the company posted $0.58 EPS. Steel Dynamics’s quarterly revenue was up 18.1% on a year-over-year basis.

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Other analysts also recently issued research reports about the company. Credit Suisse Group upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Wednesday, May 24th. Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Friday, April 21st. Deutsche Bank AG restated a “buy” rating on shares of Steel Dynamics in a research note on Saturday, June 24th. BidaskClub upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Saturday, July 1st. Finally, Cowen and Company reiterated a “buy” rating and issued a $44.00 price objective on shares of Steel Dynamics in a research report on Wednesday, July 19th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $40.59.

Shares of Steel Dynamics (STLD) opened at 34.55 on Friday. The stock has a 50 day moving average price of $36.06 and a 200-day moving average price of $35.22. The company has a market capitalization of $8.29 billion, a P/E ratio of 15.87 and a beta of 1.23. Steel Dynamics has a one year low of $22.79 and a one year high of $40.17.

Large investors have recently added to or reduced their stakes in the stock. Advantage Investment Management LLC boosted its stake in Steel Dynamics by 39.6% in the first quarter. Advantage Investment Management LLC now owns 3,350 shares of the basic materials company’s stock valued at $116,000 after buying an additional 950 shares during the period. Washington Trust Bank boosted its stake in shares of Steel Dynamics by 48.8% in the second quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock worth $122,000 after buying an additional 1,113 shares during the period. James Investment Research Inc. bought a new stake in shares of Steel Dynamics during the first quarter worth approximately $145,000. Advisory Services Network LLC bought a new stake in shares of Steel Dynamics during the first quarter worth approximately $150,000. Finally, IFP Advisors Inc boosted its stake in shares of Steel Dynamics by 163.8% in the first quarter. IFP Advisors Inc now owns 4,366 shares of the basic materials company’s stock worth $152,000 after buying an additional 2,711 shares during the period. 85.59% of the stock is owned by institutional investors.

In other news, Director Keith E. Busse sold 4,965 shares of Steel Dynamics stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total value of $190,755.30. Following the completion of the sale, the director now directly owns 1,005,666 shares of the company’s stock, valued at approximately $38,637,687.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher A. Graham sold 5,021 shares of Steel Dynamics stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total value of $191,049.05. Following the completion of the sale, the insider now directly owns 26,778 shares of the company’s stock, valued at $1,018,902.90. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.

About Steel Dynamics

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.

Earnings History and Estimates for Steel Dynamics (NASDAQ:STLD)

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