Steel Dynamics Inc. (NASDAQ:STLD) received a $33.00 price target from research analysts at Cowen and Company in a note issued to investors on Tuesday. The firm currently has a a “buy” rating on the stock. Cowen and Company’s price objective indicates a potential upside of 32.80% from the stock’s previous close.

STLD has been the topic of a number of other research reports. Jefferies Group reaffirmed a “buy” rating on shares of Steel Dynamics in a research note on Wednesday, August 3rd. Credit Suisse Group AG lifted their price target on shares of Steel Dynamics from $27.00 to $33.00 and gave the company an “outperform” rating in a research report on Wednesday, June 8th. Citigroup Inc. initiated coverage on shares of Steel Dynamics in a research report on Monday, August 22nd. They set a “buy” rating and a $33.00 price target for the company. Zacks Investment Research raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Tuesday, June 28th. Finally, Bank of America Corp. cut shares of Steel Dynamics from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a research report on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $27.77.

Steel Dynamics (NASDAQ:STLD) opened at 24.85 on Tuesday. The firm has a 50-day moving average price of $24.95 and a 200 day moving average price of $24.56. Steel Dynamics has a 52-week low of $15.32 and a 52-week high of $28.01. The stock has a market cap of $6.06 billion, a PE ratio of 507.14 and a beta of 1.70.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Monday, July 18th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. Steel Dynamics had a net margin of 0.17% and a return on equity of 10.79%. During the same quarter in the previous year, the firm posted $0.22 EPS. On average, analysts forecast that Steel Dynamics will post $2.07 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.56 annualized dividend and a yield of 2.25%. Steel Dynamics’s dividend payout ratio (DPR) is 1,120.00%.

In other Steel Dynamics news, Director Jurgen Dr Kolb sold 17,900 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $27.20, for a total value of $486,880.00. Following the completion of the transaction, the director now directly owns 65,014 shares in the company, valued at $1,768,380.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Keith E. Busse sold 13,155 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $27.00, for a total transaction of $355,185.00. Following the completion of the transaction, the director now owns 1,006,894 shares of the company’s stock, valued at $27,186,138. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. raised its position in Steel Dynamics by 54.8% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 4,800 shares of the company’s stock worth $118,000 after buying an additional 1,700 shares during the last quarter. Acrospire Investment Management LLC raised its position in Steel Dynamics by 137.5% in the second quarter. Acrospire Investment Management LLC now owns 5,699 shares of the company’s stock worth $140,000 after buying an additional 3,299 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Steel Dynamics by 1,676.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,843 shares of the company’s stock worth $143,000 after buying an additional 5,514 shares during the last quarter. Loomis Sayles & Co. L P raised its position in Steel Dynamics by 991.5% in the second quarter. Loomis Sayles & Co. L P now owns 7,029 shares of the company’s stock worth $172,000 after buying an additional 6,385 shares during the last quarter. Finally, North Point Portfolio Managers Corp OH purchased a new position in Steel Dynamics during the second quarter worth $203,000. Institutional investors and hedge funds own 82.42% of the company’s stock.

Steel Dynamics Company Profile

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