Steel Dynamics Inc. (NASDAQ:STLD) announced a quarterly dividend on Monday, September 19th. Shareholders of record on Friday, September 30th will be given a dividend of 0.14 per share on Friday, October 14th. This represents a $0.56 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Wednesday, September 28th.

Shares of Steel Dynamics (NASDAQ:STLD) opened at 24.72 on Friday. The stock’s 50 day moving average price is $24.90 and its 200 day moving average price is $24.56. The company has a market capitalization of $6.03 billion, a P/E ratio of 504.49 and a beta of 1.70. Steel Dynamics has a 52-week low of $15.32 and a 52-week high of $28.01.

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

A number of equities research analysts have commented on STLD shares. Credit Suisse Group AG raised their target price on shares of Steel Dynamics from $27.00 to $33.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 8th. BMO Capital Markets restated an “outperform” rating and set a $30.00 target price on shares of Steel Dynamics in a research note on Friday, July 22nd. Zacks Investment Research cut shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Friday, July 1st. Jefferies Group restated a “buy” rating and set a $31.00 target price (up previously from $28.00) on shares of Steel Dynamics in a research note on Friday, June 10th. Finally, Barclays PLC restated an “overweight” rating on shares of Steel Dynamics in a research note on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $27.77.

In other Steel Dynamics news, Director Jurgen Dr Kolb sold 1,000 shares of Steel Dynamics stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $26.50, for a total transaction of $26,500.00. Following the transaction, the director now owns 65,014 shares of the company’s stock, valued at $1,722,871. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Keith E. Busse sold 13,155 shares of Steel Dynamics stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $27.00, for a total value of $355,185.00. Following the transaction, the director now directly owns 1,006,894 shares in the company, valued at approximately $27,186,138. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AHL Partners LLP increased its position in shares of Steel Dynamics by 33.2% in the second quarter. AHL Partners LLP now owns 116,931 shares of the company’s stock valued at $2,865,000 after buying an additional 29,126 shares during the period. Highbridge Capital Management LLC bought a new position in shares of Steel Dynamics during the second quarter valued at $6,998,000. Cubist Systematic Strategies LLC increased its position in shares of Steel Dynamics by 713.7% in the second quarter. Cubist Systematic Strategies LLC now owns 40,661 shares of the company’s stock valued at $996,000 after buying an additional 35,664 shares during the period. Teachers Retirement System of The State of Kentucky increased its position in shares of Steel Dynamics by 5.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 55,800 shares of the company’s stock valued at $1,367,000 after buying an additional 3,000 shares during the period. Finally, Paloma Partners Management Co increased its position in shares of Steel Dynamics by 99.4% in the second quarter. Paloma Partners Management Co now owns 125,143 shares of the company’s stock valued at $3,065,000 after buying an additional 62,398 shares during the period. 82.42% of the stock is currently owned by institutional investors.

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