Steel Dynamics, Inc. (NASDAQ:STLD) – Investment analysts at KeyCorp cut their FY2017 earnings estimates for shares of Steel Dynamics in a report issued on Wednesday. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings per share of $2.38 for the year, down from their prior forecast of $2.50.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 19th. The basic materials company reported $0.63 EPS for the quarter, meeting the consensus estimate of $0.63. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the prior year, the business posted $0.58 EPS. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: “KeyCorp Equities Analysts Decrease Earnings Estimates for Steel Dynamics, Inc. (STLD)” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/08/21/keycorp-equities-analysts-decrease-earnings-estimates-for-steel-dynamics-inc-stld.html.

Several other equities research analysts have also recently issued reports on STLD. Macquarie raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $38.00 to $44.00 in a research report on Monday, April 24th. Cowen and Company lifted their price objective on shares of Steel Dynamics from $41.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, April 24th. BMO Capital Markets reaffirmed a “buy” rating and set a $48.00 price objective on shares of Steel Dynamics in a research report on Monday, April 24th. Zacks Investment Research cut shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Tuesday, April 25th. Finally, Barclays PLC reaffirmed a “buy” rating and set a $43.00 price objective on shares of Steel Dynamics in a research report on Friday, May 5th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Steel Dynamics has a consensus rating of “Buy” and a consensus price target of $40.59.

Shares of Steel Dynamics (NASDAQ STLD) opened at 34.29 on Monday. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 15.75 and a beta of 1.23. Steel Dynamics has a one year low of $22.79 and a one year high of $40.17. The stock’s 50 day moving average price is $36.03 and its 200 day moving average price is $35.21.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Steel Dynamics by 2.6% in the second quarter. Vanguard Group Inc. now owns 24,405,049 shares of the basic materials company’s stock worth $873,945,000 after buying an additional 611,096 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Steel Dynamics by 9.2% in the second quarter. BlackRock Inc. now owns 21,932,609 shares of the basic materials company’s stock worth $785,405,000 after buying an additional 1,840,803 shares during the last quarter. Boston Partners boosted its stake in shares of Steel Dynamics by 11.9% in the second quarter. Boston Partners now owns 16,383,812 shares of the basic materials company’s stock worth $586,703,000 after buying an additional 1,742,242 shares during the last quarter. State Street Corp boosted its stake in shares of Steel Dynamics by 17.9% in the second quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock worth $317,162,000 after buying an additional 1,346,487 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Steel Dynamics by 20.0% in the first quarter. Bank of New York Mellon Corp now owns 4,474,765 shares of the basic materials company’s stock worth $155,543,000 after buying an additional 745,978 shares during the last quarter. 85.59% of the stock is owned by institutional investors and hedge funds.

In other news, insider Christopher A. Graham sold 5,021 shares of the company’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Keith E. Busse sold 4,965 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total transaction 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 $38,637,687.72. The disclosure for this sale can be found here. 4.20% of the stock is owned by 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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