Several analysts have recently updated their ratings and price targets for Steel Dynamics (NASDAQ: STLD):

  • 10/2/2017 – Steel Dynamics was downgraded by analysts at Longbow Research from a “buy” rating to a “neutral” rating.
  • 9/16/2017 – Steel Dynamics had its “buy” rating reaffirmed by analysts at Jefferies Group LLC.
  • 9/15/2017 – Steel Dynamics had its price target lowered by analysts at Citigroup Inc. from $43.00 to $41.00. They now have a “buy” rating on the stock.
  • 9/12/2017 – Steel Dynamics was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating. They now have a $33.00 price target on the stock, down previously from $45.00.
  • 9/6/2017 – Steel Dynamics is now covered by analysts at Macquarie. They set a “neutral” rating and a $36.00 price target on the stock.
  • 9/5/2017 – Steel Dynamics had its “buy” rating reaffirmed by analysts at Bank of America Corporation. They now have a $44.00 price target on the stock, up previously from $42.00.
  • 8/31/2017 – Steel Dynamics had its “buy” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $43.00 price target on the stock.

Steel Dynamics, Inc. (STLD) traded up 0.14% during trading on Tuesday, hitting $34.86. The stock had a trading volume of 5,964,611 shares. Steel Dynamics, Inc. has a 52-week low of $23.34 and a 52-week high of $40.17. The company has a 50-day moving average price of $34.18 and a 200-day moving average price of $34.85. The company has a market cap of $8.36 billion, a price-to-earnings ratio of 16.01 and a beta of 1.29.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.63. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.37 billion. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. Steel Dynamics’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 earnings per share. Equities research analysts forecast that Steel Dynamics, Inc. will post $2.71 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Saturday, September 30th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.78%. Steel Dynamics’s dividend payout ratio is currently 28.57%.

In other news, insider Christopher A. Graham sold 5,021 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 26,778 shares in the company, valued at approximately $1,018,902.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith E. Busse sold 4,965 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total transaction of $190,755.30. Following the completion of the transaction, the director now owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.

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.

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