Steel Dynamics Inc. (NASDAQ:STLD) fell 5.7% during mid-day trading on Tuesday . The stock traded as low as $26.28 and last traded at $26.38, with a volume of 3,255,062 shares. The stock had previously closed at $27.98.

Several research firms recently issued reports on STLD. Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Thursday, July 7th. Bank of America Corp. cut Steel Dynamics from a “buy” rating to a “neutral” rating in a report on Wednesday. Vetr cut Steel Dynamics from a “buy” rating to a “hold” rating and set a $23.35 price objective on the stock. in a report on Tuesday, March 29th. Credit Suisse Group AG lifted their price objective on Steel Dynamics from $25.00 to $27.00 and gave the stock an “outperform” rating in a report on Wednesday, March 23rd. Finally, KeyCorp lifted their price objective on Steel Dynamics from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, March 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the company’s stock. Steel Dynamics currently has an average rating of “Buy” and an average target price of $26.26.

The stock’s market cap is $6.44 billion. The stock’s 50 day moving average price is $25.73 and its 200 day moving average price is $22.17.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Monday, July 18th. The company reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.02. During the same quarter in the previous year, the company earned $0.22 earnings per share. The company had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. On average, equities research analysts expect that Steel Dynamics Inc. will post $2.12 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, July 14th. Investors of record on Thursday, June 30th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.12%. The ex-dividend date was Tuesday, June 28th.

Other institutional investors have made changes to their positions in the company. Sawtooth Asset Management Inc. boosted its position in shares of Steel Dynamics by 8,296.5% in the fourth quarter. Sawtooth Asset Management Inc. now owns 56,928 shares of the company’s stock worth $1,017,000 after buying an additional 56,250 shares in the last quarter. Engineers Gate Manager LP boosted its position in shares of Steel Dynamics by 291.4% in the fourth quarter. Engineers Gate Manager LP now owns 59,654 shares of the company’s stock worth $1,066,000 after buying an additional 44,414 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of Steel Dynamics during the fourth quarter worth about $1,068,000. BOKF NA boosted its position in shares of Steel Dynamics by 0.5% in the fourth quarter. BOKF NA now owns 67,732 shares of the company’s stock worth $1,210,000 after buying an additional 322 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Steel Dynamics by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 70,198 shares of the company’s stock worth $1,254,000 after buying an additional 317 shares in the last quarter.

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