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Steel Dynamics, Inc. (NASDAQ:STLD - Get Rating) - KeyCorp lowered their FY2023 earnings per share (EPS) estimates for Steel Dynamics in a research report issued on Tuesday, September 20th. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $5.75 per share for the year, down from their previous forecast of $6.25. The consensus estimate for Steel Dynamics' current full-year earnings is $21.33 per share.

Several other brokerages have also issued reports on STLD. Citigroup increased their price objective on Steel Dynamics to $110.00 in a report on Tuesday, September 13th. JPMorgan Chase & Co. cut their price target on shares of Steel Dynamics from $129.00 to $110.00 in a report on Tuesday, June 14th. Morgan Stanley lowered their target price on shares of Steel Dynamics from $94.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 6th. The Goldman Sachs Group cut Steel Dynamics from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $114.00 to $92.00 in a research report on Tuesday, May 31st. Finally, UBS Group set a $95.00 price objective on Steel Dynamics in a report on Monday, June 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $92.71.Steel Dynamics Stock Down 2.2 %

NASDAQ:STLD opened at $72.56 on Friday. Steel Dynamics has a 1-year low of $50.54 and a 1-year high of $100.37. The firm has a market capitalization of $13.25 billion, a price-to-earnings ratio of 3.23 and a beta of 1.37. The company has a current ratio of 3.52, a quick ratio of 1.87 and a debt-to-equity ratio of 0.41. The business's fifty day moving average price is $78.09 and its 200 day moving average price is $78.50.

Steel Dynamics (NASDAQ:STLD - Get Rating) last posted its quarterly earnings data on Wednesday, July 20th. The basic materials company reported $6.73 EPS for the quarter, beating analysts' consensus estimates of $6.34 by $0.39. The company had revenue of $6.21 billion during the quarter, compared to analyst estimates of $5.93 billion. Steel Dynamics had a net margin of 19.81% and a return on equity of 71.50%. The business's quarterly revenue was up 39.1% on a year-over-year basis. During the same period in the prior year, the firm earned $3.40 earnings per share. Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Friday, September 30th will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, September 29th. Steel Dynamics's dividend payout ratio (DPR) is currently 6.05%. Institutional Trading of Steel Dynamics

Several hedge funds have recently modified their holdings of STLD. Allworth Financial LP raised its position in shares of Steel Dynamics by 7,542.9% during the first quarter. Allworth Financial LP now owns 535 shares of the basic materials company's stock worth $45,000 after purchasing an additional 528 shares during the period. CWM LLC boosted its position in Steel Dynamics by 82.7% during the 1st quarter. CWM LLC now owns 1,928 shares of the basic materials company's stock worth $161,000 after acquiring an additional 873 shares during the last quarter. Riverview Trust Co bought a new position in shares of Steel Dynamics during the 1st quarter worth approximately $28,000. New York State Teachers Retirement System lifted its position in shares of Steel Dynamics by 2.2% in the first quarter. New York State Teachers Retirement System now owns 287,503 shares of the basic materials company's stock worth $23,986,000 after purchasing an additional 6,227 shares in the last quarter. Finally, HighTower Advisors LLC boosted its holdings in Steel Dynamics by 25.2% during the first quarter. HighTower Advisors LLC now owns 121,657 shares of the basic materials company's stock worth $10,177,000 after purchasing an additional 24,456 shares during the last quarter. 80.36% of the stock is owned by institutional investors. About Steel Dynamics (Get Rating)

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.Recommended StoriesGet a free copy of the StockNews.com research report on Steel Dynamics (STLD)What Steelcase's Earnings Say About the Return to the Office? The Institutions Hold On To Darden Restaurants International These 3 Big Dividend Payers Also Boast Strong Price Growth Is The Golden Age Of Homebuilding Already Over? Natural Gas Prices Continue To Rally, These Stocks Should Benefit

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