Steel Dynamics, Inc. (NASDAQ:STLD) – Equities research analysts at KeyCorp reduced their FY2017 earnings per share estimates for shares of Steel Dynamics in a research report issued on Monday. KeyCorp analyst P. Gibbs now anticipates that the basic materials company will post earnings per share of $2.58 for the year, down from their prior estimate of $2.62. KeyCorp has a “Buy” rating and a $44.00 price objective on the stock. KeyCorp also issued estimates for Steel Dynamics’ Q4 2017 earnings at $0.46 EPS and FY2018 earnings at $2.67 EPS.

STLD has been the topic of several other research reports. Jefferies Group restated a “buy” rating and set a $43.00 price objective on shares of Steel Dynamics in a report on Friday, October 6th. Citigroup cut their price objective on shares of Steel Dynamics from $43.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, September 15th. Morgan Stanley set a $36.00 price objective on shares of Steel Dynamics and gave the company a “hold” rating in a report on Tuesday, October 24th. Longbow Research downgraded shares of Steel Dynamics from a “buy” rating to a “neutral” rating in a report on Monday, October 2nd. Finally, Bank of America upped their price objective on shares of Steel Dynamics from $44.00 to $45.00 and gave the company a “buy” rating in a report on Friday, October 20th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $41.70.

Steel Dynamics (STLD) opened at $41.40 on Wednesday. Steel Dynamics has a fifty-two week low of $32.15 and a fifty-two week high of $41.82. The company has a current ratio of 3.35, a quick ratio of 1.95 and a debt-to-equity ratio of 0.80. The stock has a market cap of $9,442.53, a PE ratio of 15.69, a PEG ratio of 1.25 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.66. The business had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The firm’s revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Sunday, December 31st will be given a $0.155 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.62 annualized dividend and a yield of 1.50%. Steel Dynamics’s dividend payout ratio is presently 28.57%.

A number of institutional investors have recently added to or reduced their stakes in STLD. BlackRock Inc. boosted its position in Steel Dynamics by 9.2% in the 2nd quarter. BlackRock Inc. now owns 21,932,609 shares of the basic materials company’s stock worth $785,405,000 after purchasing an additional 1,840,803 shares in the last quarter. State Street Corp boosted its position in Steel Dynamics by 17.9% in the 2nd quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock worth $317,162,000 after purchasing an additional 1,346,487 shares in the last quarter. Prudential Financial Inc. boosted its position in Steel Dynamics by 21.7% in the 2nd quarter. Prudential Financial Inc. now owns 4,079,525 shares of the basic materials company’s stock worth $146,088,000 after purchasing an additional 727,722 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Steel Dynamics in the 2nd quarter worth approximately $24,070,000. Finally, Steadfast Capital Management LP boosted its position in Steel Dynamics by 27.3% in the 2nd quarter. Steadfast Capital Management LP now owns 2,982,256 shares of the basic materials company’s stock worth $106,795,000 after purchasing an additional 640,259 shares in the last quarter. Institutional investors and hedge funds own 83.38% 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.

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

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