Candriam Luxembourg S.C.A. boosted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 37.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,692 shares of the basic materials company’s stock after acquiring an additional 7,852 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Steel Dynamics were worth $989,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in STLD. Vanguard Group Inc. lifted its holdings in shares of Steel Dynamics by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 24,405,049 shares of the basic materials company’s stock worth $873,945,000 after acquiring an additional 611,096 shares during the last quarter. BlackRock Inc. lifted its holdings in Steel Dynamics by 9.2% during the 2nd quarter. BlackRock Inc. now owns 21,932,609 shares of the basic materials company’s stock valued at $785,405,000 after buying an additional 1,840,803 shares in the last quarter. Boston Partners lifted its holdings in Steel Dynamics by 3.6% during the 3rd quarter. Boston Partners now owns 16,977,310 shares of the basic materials company’s stock valued at $585,208,000 after buying an additional 593,498 shares in the last quarter. State Street Corp lifted its holdings in Steel Dynamics by 17.9% during the 2nd quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock valued at $317,162,000 after buying an additional 1,346,487 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Steel Dynamics by 13.2% during the 3rd quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock valued at $159,217,000 after buying an additional 539,480 shares in the last quarter. Institutional investors and hedge funds own 83.45% of the company’s stock.
Steel Dynamics, Inc. (NASDAQ:STLD) traded up $1.47 during trading hours on Monday, reaching $39.79. 5,236,893 shares of the company’s stock traded hands, compared to its average volume of 3,088,210. 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 $40.41. The stock has a market cap of $9,079.99, a P/E ratio of 15.09, a PEG ratio of 1.20 and a beta of 1.40.
Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the business posted $0.64 EPS. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. research analysts anticipate that Steel Dynamics, Inc. will post 2.67 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Sunday, December 31st will be paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Thursday, December 28th. Steel Dynamics’s payout ratio is 28.57%.
STLD has been the subject of a number of research analyst reports. Jefferies Group reiterated a “buy” rating and set a $43.00 price objective on shares of Steel Dynamics in a report on Friday, October 6th. Citigroup cut their target price on shares of Steel Dynamics from $43.00 to $41.00 and set a “buy” rating on the stock in a research report on Friday, September 15th. Morgan Stanley set a $36.00 target price on shares of Steel Dynamics and gave the company a “hold” rating in a research report on Tuesday, October 24th. KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a research report on Friday, October 20th. Finally, Longbow Research downgraded shares of Steel Dynamics from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. Eight equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Steel Dynamics presently has an average rating of “Buy” and a consensus target price of $41.70.
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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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