Steel Dynamics Inc Stock in Q2 2017 Driven by Institutional Investors

Mackenzie Financial Corp sold 20,691 shares as the company's stock declined 7.91% while stock markets rallied.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. The ratio increased, as 215 institutional investors opened new or increased holdings, while 171 trimmed and sold stakes in Steel Dynamics Inc. Engineers Gate Manager Limited Partnership reported 0.25% of its portfolio in Steel Dynamics, Inc.

Looking forward, the company's quarterly earnings are expected to come at $0.66 in the three months through September 2017 and $0.66 in the quarter ending December 2017, reflecting 1.54% and 53.49% growth, respectively. The Manufacturers Life Insurance Company raised its holdings in Steel Dynamics by 2.0% during the second quarter. The volume of 2.31 Million shares climbed down over an trading activity of 2.73 Million shares. IHT Wealth Management LLC now owns 407 shares of the basic materials company's stock worth $198,000 after buying an additional 3 shares during the last quarter.

More notable recent Steel Dynamics, Inc. In the past 3-month period alone, shares of STLD have appreciated - or. The lowest target is $21 while the high is $4800. (NASDAQ:STLD). Missouri-based Signalpoint Asset Management Ltd Liability Com has invested 0.23% in Steel Dynamics, Inc. The stock has a 50 day moving average of $34.35 and a 200 day moving average of $34.89. (NASDAQ:STLD) to release earnings on October, 18. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. Raymond James Financial Services Advisors Inc. now owns 17,371 shares of the basic materials company's stock worth $622,000 after buying an additional 2,000 shares during the last quarter.

Analysts expect Steel Dynamics, Inc. Investors of record on Saturday, September 30th will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.62 annualized dividend and a dividend yield of 1.72%. Steel Dynamics's dividend payout ratio is presently 28.57%. Also, Director Keith E. Busse sold 4,965 shares of the business's stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total value of $190,755.30. Following the transaction, the director now owns 1,005,666 shares in the company, valued at $38,637,687.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Dimensional Fund Ltd Partnership stated it has 3.97 million shares. Following the completion of the transaction, the insider now owns 26,778 shares of the company's stock, valued at $1,018,902.90. The disclosure for this sale can be found here. Recently, investment analysts covering the stock have updated the mean rating to 2.2. Bank of America Corporation restated a "buy" rating and set a $44.00 price objective (up from $42.00) on shares of Steel Dynamics in a research note on Tuesday, September 5th. Longbow Research downgraded shares of Steel Dynamics from a "buy" rating to a "neutral" rating in a report on Monday, October 2nd. Out of 16 Wall Street analysts rating Steel Dynamics Inc., 11 give it "Buy", 0 "Sell" rating, while 5 recommend "Hold". As per Thursday, January 12, the company rating was downgraded by Credit Suisse. Finally, Macquarie began coverage on shares of Steel Dynamics in a report on Wednesday, September 6th. The stock has "Buy" rating by Deutsche Bank on Friday, June 23.

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Mackenzie Financial Corp who had been investing in Steel Dynamics Inc for a number of months, seems to be less bullish one the $8.81B market cap company. 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. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.