Steel Dynamics, Inc. (STLD) Upgraded to Overweight at KeyCorp

KeyCorp upgraded shares of Steel Dynamics, Inc. (NASDAQ:STLD) from a sector weight rating to an overweight rating in a research report sent to investors on Friday. KeyCorp currently has $44.00 price target on the basic materials company’s stock. KeyCorp also issued estimates for Steel Dynamics’ FY2017 earnings at $2.62 EPS.

Other equities research analysts also recently issued reports about the stock. BidaskClub raised shares of Steel Dynamics from a sell rating to a hold rating in a research report on Saturday, July 1st. Deutsche Bank AG reissued a buy rating on shares of Steel Dynamics in a research report on Saturday, June 24th. Clarkson Capital reissued a neutral rating on shares of Steel Dynamics in a research report on Thursday, July 20th. Cowen and Company reissued a buy rating and issued a $44.00 price objective on shares of Steel Dynamics in a research report on Wednesday, July 19th. Finally, Jefferies Group LLC reissued a buy rating and issued a $43.00 price objective (up from $42.00) on shares of Steel Dynamics in a research report on Saturday, July 22nd. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $40.91.

Shares of Steel Dynamics (NASDAQ STLD) traded up 2.96% during midday trading on Friday, reaching $38.90. 4,085,768 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $34.84 and its 200 day moving average price is $35.01. The stock has a market capitalization of $9.33 billion, a P/E ratio of 17.87 and a beta of 1.29. Steel Dynamics has a 1-year low of $25.96 and a 1-year high of $40.17.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.66. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the firm posted $0.64 EPS. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. On average, equities analysts predict that Steel Dynamics will post $2.68 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Steel Dynamics, Inc. (STLD) Upgraded to Overweight at KeyCorp” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/21/steel-dynamics-inc-stld-upgraded-to-overweight-at-keycorp.html.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Saturday, September 30th were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, September 28th. Steel Dynamics’s dividend payout ratio is currently 28.57%.

In related news, Director Keith E. Busse sold 4,965 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total transaction of $190,755.30. Following the completion of the sale, the director now owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher A. Graham sold 5,021 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total transaction of $191,049.05. Following the sale, the insider now owns 26,778 shares of the company’s stock, valued at approximately $1,018,902.90. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of STLD. Toronto Dominion Bank acquired a new stake in Steel Dynamics during the 2nd quarter worth $107,000. Hefty Wealth Partners boosted its stake in Steel Dynamics by 76.1% during the 3rd quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 1,477 shares during the period. Washington Trust Bank boosted its stake in Steel Dynamics by 48.8% during the 2nd quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock worth $122,000 after purchasing an additional 1,113 shares during the period. Advisory Services Network LLC boosted its stake in Steel Dynamics by 2.3% during the 2nd quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock worth $158,000 after purchasing an additional 101 shares during the period. Finally, Creative Planning boosted its stake in Steel Dynamics by 36.3% during the 2nd quarter. Creative Planning now owns 4,718 shares of the basic materials company’s stock worth $169,000 after purchasing an additional 1,256 shares during the period. Hedge funds and other institutional investors own

Other equities research analysts also recently issued reports about the stock. BidaskClub raised shares of Steel Dynamics from a sell rating to a hold rating in a research report on Saturday, July 1st. Deutsche Bank AG reissued a buy rating on shares of Steel Dynamics in a research report on Saturday, June 24th. Clarkson Capital reissued a neutral rating on shares of Steel Dynamics in a research report on Thursday, July 20th. Cowen and Company reissued a buy rating and issued a $44.00 price objective on shares of Steel Dynamics in a research report on Wednesday, July 19th. Finally, Jefferies Group LLC reissued a buy rating and issued a $43.00 price objective (up from $42.00) on shares of Steel Dynamics in a research report on Saturday, July 22nd. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $40.91.

Shares of Steel Dynamics (NASDAQ STLD) traded up 2.96% during midday trading on Friday, reaching $38.90. 4,085,768 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $34.84 and its 200 day moving average price is $35.01. The stock has a market capitalization of $9.33 billion, a P/E ratio of 17.87 and a beta of 1.29. Steel Dynamics has a 1-year low of $25.96 and a 1-year high of $40.17.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.66. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the prior year, the firm posted $0.64 EPS. The company’s quarterly revenue was up 16.3% compared to the same quarter last year. On average, equities analysts predict that Steel Dynamics will post $2.68 earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Steel Dynamics, Inc. (STLD) Upgraded to Overweight at KeyCorp” was first reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this piece on another website, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The original version of this piece can be accessed at https://ledgergazette.com/2017/10/21/steel-dynamics-inc-stld-upgraded-to-overweight-at-keycorp.html.

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Investors of record on Saturday, September 30th were paid a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Thursday, September 28th. Steel Dynamics’s dividend payout ratio is currently 28.57%.

In related news, Director Keith E. Busse sold 4,965 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total transaction of $190,755.30. Following the completion of the sale, the director now owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Christopher A. Graham sold 5,021 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total transaction of $191,049.05. Following the sale, the insider now owns 26,778 shares of the company’s stock, valued at approximately $1,018,902.90. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of STLD. Toronto Dominion Bank acquired a new stake in Steel Dynamics during the 2nd quarter worth $107,000. Hefty Wealth Partners boosted its stake in Steel Dynamics by 76.1% during the 3rd quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock worth $118,000 after purchasing an additional 1,477 shares during the period. Washington Trust Bank boosted its stake in Steel Dynamics by 48.8% during the 2nd quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock worth $122,000 after purchasing an additional 1,113 shares during the period. Advisory Services Network LLC boosted its stake in Steel Dynamics by 2.3% during the 2nd quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock worth $158,000 after purchasing an additional 101 shares during the period. Finally, Creative Planning boosted its stake in Steel Dynamics by 36.3% during the 2nd quarter. Creative Planning now owns 4,718 shares of the basic materials company’s stock worth $169,000 after purchasing an additional 1,256 shares during the period. Hedge funds and other institutional investors own 82.58% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

Analyst Recommendations for Steel Dynamics (NASDAQ:STLD)

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