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Steel Dynamics Reveals 220% Gain In Q1 Profit

Manuel Armenta | 21 Abril, 2017, 03:29

Jefferies Group LLC reaffirmed a buy rating and issued a $45.00 target price (up from $32.00) on shares of Steel Dynamics in a report on Tuesday, December 13th.

Sell-side analysts have also provided a consensus recommendation of 2.10 on company shares. Insiders own 4.10% of the company's stock. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in Steel Dynamics by 3,458.0% in the fourth quarter. Green Street Investors Llc owns 100,400 shares or 2.11% of their U.S. portfolio. Seven Eight Capital LP acquired a new stake in Steel Dynamics during the fourth quarter valued at approximately $141,000.

The share price of the company (NASDAQ:STLD) was down -2.75% during the last trading session, with a high of 33.96 and the volume of Steel Dynamics, Inc. shares traded was 3145650. Current price level places the company's stock about -3.57% from the 52-week high and 35.59% away from the 52-week low. The number of shares now owned by investors are 811.09 mln.

Hedge funds have recently added to or reduced their stakes in the company.

The stock decreased 2.75% or $0.93 on April 13, reaching $32.91. Given that liquidity is king in short-term, RUBI is a stock with 49.01 million shares outstanding that normally trades 1.91% of its float. The stock has a market capitalization of $7.97 billion, a PE ratio of 21.08 and a beta of 1.35. In order to determine directional movement, the 50-day and 200-day moving averages for the Rubicon Project, Inc.

Steel Dynamics, Inc. (STLD) exchanged hands at an unexpectedly low level of 3.15 million shares over the course of the day. After $0.44 actual earnings per share reported by Piedmont Office Realty Trust, Inc. for the previous quarter, Wall Street now forecasts -2.27% negative EPS growth. The business earned $1.91 billion during the quarter, compared to analysts' expectations of $1.88 billion. They expect $0.47 earnings per share, down 38.16% or $0.29 from last year's $0.76 per share. The firm's revenue was up 20.1% compared to the same quarter a year ago. Investors of record on Friday, March 31st were given a dividend of $0.155 per share. This is a boost from Steel Dynamics's previous quarterly dividend of $0.14. Nomura maintained the shares of STLD in report on Wednesday, March 9 with "Buy" rating. This represents a $0.62 annualized dividend and a yield of 1.90%. Deutsche Bank maintained Steel Dynamics, Inc.

STLD has been the topic of several other reports. Finally, Zacks Investment Research upgraded Steel Dynamics from a "hold" rating to a "buy" rating and set a $41.00 target price on the stock in a research report on Tuesday, December 27th. BMO Capital Markets reiterated a "buy" rating and issued a $48.00 price target on shares of Steel Dynamics in a report on Wednesday, March 22nd. EPS long term mean growth rate estimated by 3 analysts is at 9.87%, whereas, the high and low Long term growth rate estimated at 14.6 and 3.

In related news, Director Richard P. Teets, Jr. sold 140,295 shares of the stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $35.64, for a total value of $5,000,113.80. During the 52 -week period, the stock's price traded between range of $22.62 to $40.17. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The F-Score was developed to help find company stocks that have solid fundamentals, and to separate out weaker companies.

"ILLEGAL ACTIVITY WARNING: "[[title]]" was first posted by [[site]] and is the sole property of of [[site]]. The Firm 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.

First quarter 2017 operating income for the company's steel operations raised 62% to $352.0M sequentially, based on a 12% increase in shipments and metal spread expansion.

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