Envestnet Asset Management Inc. now owns 12,544 shares of the company’s stock valued at $282,000 after buying an additional 4,132 shares in the last quarter.
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Steel Dynamics (NASDAQ:STLD) traded up 0.47% during midday trading on Monday, reaching $27.98.
In June, Steel Dynamics agreed to buy Vulcan Threaded Products Inc. for $126 million as part of a strategy to buy downstream companies that can purchase steel internally from Steel Dynamics in times of weak demand.
Steel Dynamics, Inc. has 243,572,000 shares in issue which have a share price of 26.85 giving Steel Dynamics, Inc. a market capitalisation of 6.54B United States dollars. For the reporting quarter, analysts expect the company to deliver $0.68 in earnings per share (EPS).
On the top line, the consensus estimates $2.110 billion against Estimize’s estimate of $2.114 billion. There was another key note issued by Credit Suisse on Friday March 11, 2016. However a year ago for the same quarter the company has reported $0.22 earnings per share.
Investors considering STLD stock at the going market price of $26.85/share should know the stock will next release quarterly results for the September 2016 quarter. The stock is now holding above its 50 day moving average of $7.21 and above its 200 day moving average of $25.68. Steel Dynamics has a 52 week low of $15.32 and a 52 week high of $28.01.
3G Capital Partners Lp holds 3.75% of its portfolio in Steel Dynamics, Inc. for 2.50 million shares.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 14th.
Cowen on Wednesday reiterated Steel Dynamics, Inc.’s analyst rating as “Outperform” with its price target of 33 highlighting a potential increase of 22.91% from Steel Dynamics, Inc.’s current price of 26.85. Stockholders of record on Thursday, June 30th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend was Tuesday, June 28th.
Steel Dynamics Inc. reported a sharp profit increase for the second quarter, reflecting improved shipments and pricing.
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Out of 11 analysts covering Steel Dynamics Inc. Nikko Asset Management Americas Inc. now owns 354,700 shares of the company’s stock valued at $8,378,000 after buying an additional 36,000 shares during the last quarter. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have given a buy rating to the company’s stock. Finally, M&T Bank Corp acquired a new position in Steel Dynamics during the first quarter valued at about $372,000. The stock now has a consensus rating of “Buy” and a consensus price target of $26.26.
