Steel Dynamics, Inc. (NASDAQ:STLD) – Investment analysts at KeyCorp reduced their Q1 2018 earnings per share estimates for shares of Steel Dynamics in a report released on Sunday. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings per share of $0.95 for the quarter, down from their prior estimate of $1.15. KeyCorp currently has a “Buy” rating and a $49.00 price objective on the stock.
Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Steel Dynamics from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Morgan Stanley set a $36.00 price objective on Steel Dynamics and gave the stock a “hold” rating in a report on Tuesday, October 24th. Jefferies Group reiterated a “buy” rating and issued a $53.00 price objective on shares of Steel Dynamics in a report on Thursday, January 11th. BidaskClub upgraded Steel Dynamics from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 6th. Finally, Citigroup increased their price objective on Steel Dynamics from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $46.64.
Several institutional investors and hedge funds have recently added to or reduced their stakes in STLD. SG Capital Management LLC purchased a new position in shares of Steel Dynamics in the 4th quarter valued at approximately $36,928,000. UBS Asset Management Americas Inc. lifted its stake in shares of Steel Dynamics by 125.6% in the 4th quarter. UBS Asset Management Americas Inc. now owns 1,431,743 shares of the basic materials company’s stock valued at $61,751,000 after purchasing an additional 797,142 shares during the period. Boston Partners lifted its stake in shares of Steel Dynamics by 3.6% in the 3rd quarter. Boston Partners now owns 16,977,310 shares of the basic materials company’s stock valued at $585,208,000 after purchasing an additional 593,498 shares during the period. Prudential Financial Inc. lifted its stake in shares of Steel Dynamics by 13.2% in the 3rd quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock valued at $159,217,000 after purchasing an additional 539,480 shares during the period. Finally, Korea Investment CORP lifted its stake in shares of Steel Dynamics by 129.6% in the 3rd quarter. Korea Investment CORP now owns 681,300 shares of the basic materials company’s stock valued at $23,484,000 after purchasing an additional 384,600 shares during the period. Institutional investors own 83.47% of the company’s stock.
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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.
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