USA Financial Portformulas Corp acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,663 shares of the basic materials company’s stock, valued at approximately $525,000.
Other hedge funds have also recently made changes to their positions in the company. Chicago Equity Partners LLC grew its holdings in Steel Dynamics by 189.3% during the second quarter. Chicago Equity Partners LLC now owns 178,705 shares of the basic materials company’s stock worth $6,399,000 after acquiring an additional 116,925 shares during the period. Keybank National Association OH grew its holdings in Steel Dynamics by 13.9% during the second quarter. Keybank National Association OH now owns 36,558 shares of the basic materials company’s stock worth $1,309,000 after acquiring an additional 4,471 shares during the period. BW Gestao de Investimentos Ltda. grew its holdings in Steel Dynamics by 5.0% during the second quarter. BW Gestao de Investimentos Ltda. now owns 750,350 shares of the basic materials company’s stock worth $26,870,000 after acquiring an additional 35,777 shares during the period. Waverton Investment Management Ltd grew its holdings in Steel Dynamics by 3.8% during the second quarter. Waverton Investment Management Ltd now owns 20,874 shares of the basic materials company’s stock worth $747,000 after acquiring an additional 763 shares during the period. Finally, Lazard Asset Management LLC grew its holdings in Steel Dynamics by 121,619.0% during the second quarter. Lazard Asset Management LLC now owns 383,415 shares of the basic materials company’s stock worth $13,730,000 after acquiring an additional 383,100 shares during the period. 82.78% of the stock is currently owned by institutional investors and hedge funds.
Steel Dynamics, Inc. (NASDAQ:STLD) traded down 0.57% on Friday, reaching $38.67. The company had a trading volume of 2,189,566 shares. The firm has a 50-day moving average of $35.21 and a 200-day moving average of $35.10. The stock has a market capitalization of $9.28 billion, a P/E ratio of 17.76 and a beta of 1.29. Steel Dynamics, Inc. has a 12 month low of $26.29 and a 12 month high of $40.17.
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 Zacks’ consensus estimate of $0.66. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The company had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the prior year, the company earned $0.64 earnings per share. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. On average, equities research analysts expect that Steel Dynamics, Inc. will post $2.68 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Saturday, September 30th were issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Thursday, September 28th. Steel Dynamics’s dividend payout ratio (DPR) is 28.57%.
Several brokerages have commented on STLD. Cowen and Company reissued a “buy” rating and issued a $44.00 price objective on shares of Steel Dynamics in a report on Wednesday, July 19th. BidaskClub raised Steel Dynamics from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Clarkson Capital reissued a “neutral” rating on shares of Steel Dynamics in a report on Thursday, July 20th. Jefferies Group LLC restated a “buy” rating and issued a $43.00 target price (up previously from $42.00) on shares of Steel Dynamics in a research report on Saturday, July 22nd. Finally, Bank of America Corporation raised their target price on Steel Dynamics from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $41.09.
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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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