Barings LLC trimmed its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 46.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,800 shares of the basic materials company’s stock after selling 15,300 shares during the period. Barings LLC’s holdings in Steel Dynamics were worth $768,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Steel Dynamics by 13.0% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 17,371 shares of the basic materials company’s stock valued at $622,000 after purchasing an additional 2,000 shares during the period. Advisory Services Network LLC lifted its stake in shares of Steel Dynamics by 2.3% in the 2nd quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock valued at $158,000 after purchasing an additional 101 shares during the period. Toronto Dominion Bank acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at $107,000. Achmea Investment Management B.V. acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at $534,000. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of Steel Dynamics by 5.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 87,815 shares of the basic materials company’s stock valued at $3,026,000 after purchasing an additional 4,760 shares during the period. Institutional investors and hedge funds own 82.99% of the company’s stock.
Steel Dynamics, Inc. (NASDAQ:STLD) opened at $48.14 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 firm has a market cap of $11,410.00, a price-to-earnings ratio of 11.66, a price-to-earnings-growth ratio of 1.03 and a beta of 1.34. Steel Dynamics, Inc. has a 12-month low of $32.15 and a 12-month high of $50.70.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders 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 a boost from Steel Dynamics’s previous quarterly dividend of $0.16. This represents a $0.75 dividend on an annualized basis and a yield of 1.56%. Steel Dynamics’s dividend payout ratio is currently 15.01%.
STLD has been the subject of several analyst reports. Zacks Investment Research cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. Jefferies Group reiterated a “buy” rating and issued a $53.00 target price on shares of Steel Dynamics in a research note on Thursday, January 11th. BidaskClub upgraded shares of Steel Dynamics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 6th. Longbow Research upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating in a research note on Wednesday, December 20th. Finally, Bank of America set a $51.00 target price on shares of Steel Dynamics and gave the company a “buy” rating in a research note on Monday, January 8th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $46.64.
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About Steel Dynamics
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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