Sterling Capital Management LLC reduced its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 73.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,385 shares of the basic materials company’s stock after selling 75,890 shares during the quarter. Sterling Capital Management LLC’s holdings in Steel Dynamics were worth $944,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of STLD. Toronto Dominion Bank bought a new stake in shares of Steel Dynamics during the second quarter valued at approximately $107,000. Hefty Wealth Partners boosted its position in shares of Steel Dynamics by 76.1% during the third quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 1,477 shares in the last quarter. Cubist Systematic Strategies LLC raised its stake in Steel Dynamics by 80.8% during the third quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock valued at $123,000 after buying an additional 1,589 shares during the last quarter. Advisory Services Network LLC raised its stake in Steel Dynamics by 2.3% during the second quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock valued at $158,000 after buying an additional 101 shares during the last quarter. Finally, IHT Wealth Management LLC raised its stake in Steel Dynamics by 0.7% during the second quarter. IHT Wealth Management LLC now owns 407 shares of the basic materials company’s stock valued at $198,000 after buying an additional 3 shares during the last quarter. Hedge funds and other institutional investors own 83.38% of the company’s stock.
A number of brokerages have issued reports on STLD. Zacks Investment Research cut Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Jefferies Group reiterated a “buy” rating on shares of Steel Dynamics in a research note on Saturday, September 16th. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a research note on Friday, October 20th. Citigroup decreased their price target on Steel Dynamics from $43.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, September 15th. Finally, BidaskClub upgraded Steel Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 6th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $43.71.
Steel Dynamics, Inc. (NASDAQ STLD) traded down $0.11 during trading hours on Friday, reaching $47.01. The company’s stock had a trading volume of 1,887,312 shares, compared to its average volume of 2,428,855. Steel Dynamics, Inc. has a twelve month low of $32.15 and a twelve month high of $47.39. The company has a quick ratio of 1.95, a current ratio of 3.35 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $11,140.00, a price-to-earnings ratio of 21.66, a PEG ratio of 1.26 and a beta of 1.40.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. Steel Dynamics’s revenue for the quarter was up 16.3% on a year-over-year basis. equities analysts anticipate that Steel Dynamics, Inc. will post 2.64 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Sunday, December 31st were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.32%. The ex-dividend date was Thursday, December 28th. Steel Dynamics’s dividend payout ratio is presently 28.57%.
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Steel Dynamics 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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