Steel Dynamics Inc. (NASDAQ:STLD)’s share price hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $27.48 and last traded at $27.33, with a volume of 2,501,006 shares. The stock had previously closed at $26.91.

STLD has been the topic of a number of research reports. Barclays PLC boosted their target price on shares of Steel Dynamics from $22.00 to $27.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 19th. Bank of America Corp. reissued a “buy” rating on shares of Steel Dynamics in a report on Thursday, March 17th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $29.00 price target on shares of Steel Dynamics in a report on Tuesday, April 5th. Deutsche Bank AG reissued a “buy” rating and issued a $25.00 price target (up previously from $23.00) on shares of Steel Dynamics in a report on Wednesday, March 23rd. Finally, Jefferies Group boosted their price target on shares of Steel Dynamics to $25.50 in a report on Monday, March 21st. One investment analyst has rated the stock with a sell rating and nineteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $26.21.

The stock’s 50-day moving average price is $25.37 and its 200-day moving average price is $21.86. The firm’s market cap is $6.69 billion.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, April 20th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.02. During the same period last year, the firm posted $0.17 earnings per share. The business earned $1.70 billion during the quarter, compared to analyst estimates of $1.70 billion. Steel Dynamics’s quarterly revenue was down 15.0% compared to the same quarter last year. Analysts anticipate that Steel Dynamics Inc. will post $2.02 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 14th. Shareholders of record on Thursday, June 30th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.04%. The ex-dividend date is Tuesday, June 28th.

Other large investors have recently added to or reduced their stakes in the company. Neuberger Berman Group LLC increased its stake in Steel Dynamics by 11.0% in the fourth quarter. Neuberger Berman Group LLC now owns 257,546 shares of the company’s stock valued at $4,602,000 after buying an additional 25,500 shares in the last quarter. Nationwide Fund Advisors increased its stake in Steel Dynamics by 1.0% in the fourth quarter. Nationwide Fund Advisors now owns 422,545 shares of the company’s stock valued at $7,551,000 after buying an additional 4,007 shares in the last quarter. Eagle Asset Management Inc. increased its stake in Steel Dynamics by 35.2% in the fourth quarter. Eagle Asset Management Inc. now owns 279,045 shares of the company’s stock valued at $4,986,000 after buying an additional 72,658 shares in the last quarter. Rhumbline Advisers increased its stake in Steel Dynamics by 0.3% in the fourth quarter. Rhumbline Advisers now owns 374,506 shares of the company’s stock valued at $6,692,000 after buying an additional 1,176 shares in the last quarter. Finally, California Public Employees Retirement System increased its stake in Steel Dynamics by 0.3% in the fourth quarter. California Public Employees Retirement System now owns 645,300 shares of the company’s stock valued at $11,532,000 after buying an additional 1,800 shares in the last quarter.

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