Steel Dynamics, Inc. (NASDAQ:STLD) – Research analysts at Credit Agricole SA dropped their FY2016 earnings per share estimates for Steel Dynamics in a research report issued on Tuesday. Credit Agricole SA analyst D. Lipschitz now anticipates that the firm will post earnings of $2.00 per share for the year, down from their previous estimate of $2.13. Credit Agricole SA currently has a “Market Perform” rating and a $27.00 target price on the stock. Credit Agricole SA also issued estimates for Steel Dynamics’ FY2017 earnings at $2.10 EPS.

Other analysts also recently issued reports about the stock. Rosenblatt Securities started coverage on shares of Steel Dynamics in a research report on Wednesday, June 1st. They set a “buy” rating and a $21.00 price target on the stock. Cowen and Company set a $33.00 price target on shares of Steel Dynamics and gave the stock a “buy” rating in a research report on Monday, August 1st. Jefferies Group restated a “buy” rating and set a $31.00 price target on shares of Steel Dynamics in a research report on Wednesday, July 20th. Zacks Investment Research upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, June 28th. Finally, Berenberg Bank restated a “buy” rating and set a $35.00 price target on shares of Steel Dynamics in a research report on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $27.77.

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

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Monday, July 18th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. Steel Dynamics had a return on equity of 10.79% and a net margin of 0.17%. The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the prior year, the company earned $0.22 earnings per share.

The business also recently disclosed 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. This represents a $0.56 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Wednesday, September 28th. Steel Dynamics’s payout ratio is presently 1,120.00%.

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

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. increased its stake 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 valued at $118,000 after buying an additional 1,700 shares in the last quarter. Acrospire Investment Management LLC increased its stake in Steel Dynamics by 137.5% in the second quarter. Acrospire Investment Management LLC now owns 5,699 shares of the company’s stock valued at $140,000 after buying an additional 3,299 shares in the last quarter. Tower Research Capital LLC TRC increased its stake 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 valued at $143,000 after buying an additional 5,514 shares in the last quarter. Loomis Sayles & Co. L P increased its stake 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 valued at $172,000 after buying an additional 6,385 shares in the last quarter. Finally, North Point Portfolio Managers Corp OH acquired a new stake in Steel Dynamics during the second quarter valued at approximately $203,000. 82.42% of the stock is currently owned by hedge funds and other institutional investors.

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