CoreCommodity Management LLC purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,055 shares of the basic materials company’s stock, valued at approximately $62,000.
A number of other large investors have also recently bought and sold shares of STLD. Ffcm LLC boosted its holdings in shares of Steel Dynamics by 59.3% in the fourth quarter. Ffcm LLC now owns 924 shares of the basic materials company’s stock worth $28,000 after buying an additional 344 shares during the last quarter. Valeo Financial Advisors LLC raised its position in shares of Steel Dynamics by 36.4% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,124 shares of the basic materials company’s stock valued at $34,000 after buying an additional 300 shares during the last quarter. SRS Capital Advisors Inc. raised its position in shares of Steel Dynamics by 183.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,126 shares of the basic materials company’s stock valued at $34,000 after buying an additional 729 shares during the last quarter. JOYN Advisors Inc. raised its position in shares of Steel Dynamics by 34.7% during the fourth quarter. JOYN Advisors Inc. now owns 1,164 shares of the basic materials company’s stock valued at $35,000 after buying an additional 300 shares during the last quarter. Finally, Penserra Capital Management LLC raised its position in shares of Steel Dynamics by 28.2% during the fourth quarter. Penserra Capital Management LLC now owns 2,071 shares of the basic materials company’s stock valued at $61,000 after buying an additional 455 shares during the last quarter. Institutional investors own 78.22% of the company’s stock.
STLD stock opened at $35.12 on Monday. Steel Dynamics, Inc. has a fifty-two week low of $28.91 and a fifty-two week high of $52.10. The company has a quick ratio of 2.13, a current ratio of 3.96 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $7.87 billion, a P/E ratio of 6.40, a price-to-earnings-growth ratio of 0.73 and a beta of 1.40.
Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, January 22nd. The basic materials company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.06. Steel Dynamics had a net margin of 10.65% and a return on equity of 35.44%. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.93 billion. During the same period last year, the firm posted $0.54 earnings per share. Steel Dynamics’s revenue for the quarter was up 24.3% compared to the same quarter last year. Analysts predict that Steel Dynamics, Inc. will post 4.13 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Sunday, March 31st will be issued a $0.24 dividend. The ex-dividend date is Friday, March 29th. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.19. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.73%. Steel Dynamics’s dividend payout ratio (DPR) is 13.66%.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. BidaskClub cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Saturday, March 9th. UBS Group set a $36.00 price objective on shares of Steel Dynamics and gave the company a “hold” rating in a research report on Monday, December 10th. Cowen assumed coverage on shares of Steel Dynamics in a research report on Tuesday, January 8th. They set a “market perform” rating and a $32.00 price objective on the stock. Finally, ValuEngine cut shares of Steel Dynamics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 27th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $50.18.
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Steel Dynamics Profile
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.
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