Steel Dynamics Inc. (NASDAQ:STLD) – KeyCorp lifted their FY2016 earnings per share (EPS) estimates for shares of Steel Dynamics in a report released on Wednesday. KeyCorp analyst P. Gibbs now anticipates that the firm will post earnings of $1.92 per share for the year, up from their prior forecast of $1.85. KeyCorp also issued estimates for Steel Dynamics’ Q4 2016 earnings at $0.42 EPS and FY2017 earnings at $1.92 EPS.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, October 19th. The company reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.03. The business had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $865.67 million. Steel Dynamics had a return on equity of 14.52% and a net margin of 1.46%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share.

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

A number of other research firms also recently issued reports on STLD. Berenberg Bank downgraded Steel Dynamics from a “buy” rating to a “hold” rating and increased their price objective for the stock from $35.00 to $36.50 in a report on Monday, November 14th. Rosenblatt Securities downgraded Steel Dynamics from a “buy” rating to a “neutral” rating and set a $32.00 price objective for the company. in a report on Monday, November 14th. Cowen and Company set a $33.00 price objective on Steel Dynamics and gave the stock a “buy” rating in a report on Monday, August 1st. Jefferies Group reiterated a “buy” rating on shares of Steel Dynamics in a report on Wednesday, August 3rd. Finally, BMO Capital Markets reiterated a “buy” rating on shares of Steel Dynamics in a report on Thursday, October 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $28.44.

Shares of Steel Dynamics (NASDAQ:STLD) opened at 33.37 on Monday. Steel Dynamics has a 1-year low of $15.32 and a 1-year high of $33.60. The company has a market capitalization of $8.14 billion, a PE ratio of 75.16 and a beta of 1.33. The stock’s 50 day moving average price is $27.07 and its 200-day moving average price is $25.68.

A number of hedge funds have recently modified their holdings of the stock. M&T Bank Corp increased its stake in shares of Steel Dynamics by 0.4% in the third quarter. M&T Bank Corp now owns 17,774 shares of the company’s stock valued at $445,000 after buying an additional 67 shares during the period. Capstone Asset Management Co. increased its stake in shares of Steel Dynamics by 0.3% in the second quarter. Capstone Asset Management Co. now owns 27,074 shares of the company’s stock valued at $663,000 after buying an additional 71 shares during the period. OLD National Bancorp IN increased its stake in shares of Steel Dynamics by 0.7% in the third quarter. OLD National Bancorp IN now owns 19,690 shares of the company’s stock valued at $492,000 after buying an additional 131 shares during the period. Advantus Capital Management Inc increased its stake in shares of Steel Dynamics by 0.6% in the third quarter. Advantus Capital Management Inc now owns 29,668 shares of the company’s stock valued at $741,000 after buying an additional 169 shares during the period. Finally, First Citizens Bank & Trust Co. increased its stake in shares of Steel Dynamics by 1.3% in the third quarter. First Citizens Bank & Trust Co. now owns 15,723 shares of the company’s stock valued at $393,000 after buying an additional 208 shares during the period. 83.43% of the stock is currently owned by institutional investors.

In related news, Director Keith E. Busse sold 2,000 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, November 1st. The stock was sold at an average price of $27.33, for a total transaction of $54,660.00. Following the sale, the director now owns 1,004,923 shares of the company’s stock, valued at approximately $27,464,545.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is owned by insiders.

Steel Dynamics Company Profile

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