Tocqueville Asset Management L.P. bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,758 shares of the basic materials company’s stock, valued at approximately $205,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC acquired a new position in Steel Dynamics in the third quarter worth about $112,000. Cubist Systematic Strategies LLC grew its stake in Steel Dynamics by 80.8% in the third quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock worth $123,000 after purchasing an additional 1,589 shares in the last quarter. Cerebellum GP LLC acquired a new position in Steel Dynamics in the fourth quarter worth about $132,000. Amica Retiree Medical Trust acquired a new position in Steel Dynamics in the fourth quarter worth about $143,000. Finally, National Pension Service acquired a new position in Steel Dynamics in the fourth quarter worth about $150,000. 85.46% of the stock is currently owned by institutional investors and hedge funds.
Steel Dynamics, Inc. (STLD) opened at $47.07 on Thursday. The company has a current ratio of 4.04, a quick ratio of 2.29 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $11,152.01, a P/E ratio of 17.83, a PEG ratio of 0.98 and a beta of 1.27. Steel Dynamics, Inc. has a 52-week low of $32.15 and a 52-week high of $50.70.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Monday, January 22nd. The basic materials company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.05. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.17 billion. Steel Dynamics had a return on equity of 21.48% and a net margin of 8.52%. research analysts anticipate that Steel Dynamics, Inc. will post 4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Saturday, March 31st will be given a dividend of $0.1875 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.16. This represents a $0.75 annualized dividend and a dividend yield of 1.59%. Steel Dynamics’s payout ratio is currently 18.40%.
A number of research firms recently commented on STLD. Zacks Investment Research downgraded Steel Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub downgraded Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 8th. Jefferies Group reiterated a “buy” rating on shares of Steel Dynamics in a research note on Wednesday, January 24th. KeyCorp set a $49.00 price target on Steel Dynamics and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Finally, ValuEngine upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $46.64.
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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