BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 138.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 254,829 shares of the basic materials company’s stock after buying an additional 148,183 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.11% of Steel Dynamics worth $8,784,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. AMP Capital Investors Ltd boosted its position in shares of Steel Dynamics by 282.4% during the 3rd quarter. AMP Capital Investors Ltd now owns 235,814 shares of the basic materials company’s stock valued at $8,128,000 after acquiring an additional 174,143 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its position in Steel Dynamics by 9.6% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 35,228 shares of the basic materials company’s stock worth $1,214,000 after buying an additional 3,100 shares during the last quarter. Brave Asset Management Inc. lifted its position in Steel Dynamics by 8.0% in the 3rd quarter. Brave Asset Management Inc. now owns 47,774 shares of the basic materials company’s stock worth $1,647,000 after buying an additional 3,559 shares during the last quarter. Mackenzie Financial Corp lifted its position in Steel Dynamics by 58.0% in the 3rd quarter. Mackenzie Financial Corp now owns 111,888 shares of the basic materials company’s stock worth $3,857,000 after buying an additional 41,088 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in Steel Dynamics by 3.0% in the 3rd quarter. Stifel Financial Corp now owns 92,665 shares of the basic materials company’s stock worth $3,188,000 after buying an additional 2,725 shares during the last quarter. 83.45% of the stock is owned by institutional investors and hedge funds.
Shares of Steel Dynamics, Inc. (STLD) opened at $40.70 on Monday. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.35 and a quick ratio of 1.95. Steel Dynamics, Inc. has a 12-month low of $32.15 and a 12-month high of $41.10. The firm has a market capitalization of $9,643.95, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 1.27 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 earnings per share 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 firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The business’s revenue was up 16.3% on a year-over-year basis. equities research analysts forecast that Steel Dynamics, Inc. will post 2.67 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Sunday, December 31st will be given a $0.155 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.62 annualized dividend and a yield of 1.52%. Steel Dynamics’s payout ratio is currently 28.57%.
A number of analysts recently weighed in on STLD shares. Bank of America restated a “buy” rating and issued a $44.00 target price (up previously from $42.00) on shares of Steel Dynamics in a research report on Tuesday, September 5th. Jefferies Group restated a “buy” rating and issued a $43.00 target price on shares of Steel Dynamics in a research report on Thursday, August 31st. Macquarie started coverage on Steel Dynamics in a research report on Wednesday, September 6th. They issued a “neutral” rating and a $36.00 target price for the company. Morgan Stanley set a $36.00 target price on Steel Dynamics and gave the stock a “hold” rating in a research report on Tuesday, October 24th. Finally, KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 target price for the company in a research report on Friday, October 20th. Eight investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Steel Dynamics currently has an average rating of “Buy” and a consensus target price of $41.70.
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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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