Dimensional Fund Advisors LP raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,212,248 shares of the basic materials company’s stock after acquiring an additional 247,077 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.78% of Steel Dynamics worth $145,199,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Chicago Equity Partners LLC increased its holdings in shares of Steel Dynamics by 189.3% in the second quarter. Chicago Equity Partners LLC now owns 178,705 shares of the basic materials company’s stock worth $6,399,000 after purchasing an additional 116,925 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of Steel Dynamics by 8.2% in the third quarter. Canada Pension Plan Investment Board now owns 544,861 shares of the basic materials company’s stock worth $18,781,000 after purchasing an additional 41,400 shares during the last quarter. Global X MANAGEMENT CO LLC increased its holdings in shares of Steel Dynamics by 21.3% in the third quarter. Global X MANAGEMENT CO LLC now owns 15,728 shares of the basic materials company’s stock worth $542,000 after purchasing an additional 2,758 shares during the last quarter. APG Asset Management N.V. bought a new stake in shares of Steel Dynamics in the third quarter worth about $9,800,000. Finally, Prudential Financial Inc. increased its holdings in shares of Steel Dynamics by 13.2% in the third quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock worth $159,217,000 after purchasing an additional 539,480 shares during the last quarter. 83.45% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on STLD shares. Longbow Research cut Steel Dynamics from a “buy” rating to a “neutral” rating in a report on Monday, October 2nd. Bank of America reaffirmed a “buy” rating and issued a $44.00 target price (up from $42.00) on shares of Steel Dynamics in a report on Tuesday, September 5th. Cowen set a $43.00 price target on Steel Dynamics and gave the stock a “buy” rating in a research report on Friday, October 20th. Citigroup lifted their price target on Steel Dynamics from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Finally, ValuEngine lowered Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $41.70.
Shares of Steel Dynamics, Inc. (NASDAQ:STLD) opened at $39.84 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.95 and a current ratio of 3.35. Steel Dynamics, Inc. has a 12 month low of $32.15 and a 12 month high of $41.66. The firm has a market cap of $9,840.00, a P/E ratio of 16.00, a PEG ratio of 1.27 and a beta of 1.39.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, hitting analysts’ consensus estimates of $0.66. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. Steel Dynamics’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.64 earnings per share. sell-side analysts expect that Steel Dynamics, Inc. will post 2.67 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Sunday, December 31st will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Thursday, December 28th. Steel Dynamics’s dividend payout ratio (DPR) is 28.57%.
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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.
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