Swiss National Bank reduced its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 0.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 885,500 shares of the basic materials company’s stock after selling 5,900 shares during the quarter. Swiss National Bank owned 0.37% of Steel Dynamics worth $38,192,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Toronto Dominion Bank purchased a new stake in Steel Dynamics during the 2nd quarter valued at about $107,000. Cerebellum GP LLC purchased a new stake in Steel Dynamics during the 4th quarter valued at about $132,000. Steward Partners Investment Advisory LLC purchased a new stake in Steel Dynamics during the 3rd quarter valued at about $112,000. National Pension Service purchased a new stake in Steel Dynamics in the 4th quarter worth approximately $150,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in Steel Dynamics by 80.8% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock worth $123,000 after buying an additional 1,589 shares during the period. Hedge funds and other institutional investors own 82.99% of the company’s stock.
Steel Dynamics, Inc. (NASDAQ:STLD) traded down $0.53 during mid-day trading on Friday, hitting $47.47. The stock had a trading volume of 2,300,000 shares, compared to its average volume of 2,630,000. The stock has a market cap of $11,250.00, a P/E ratio of 11.49, a P/E/G ratio of 0.99 and a beta of 1.34. The company has a current ratio of 4.04, a quick ratio of 2.29 and a debt-to-equity ratio of 0.74. Steel Dynamics, Inc. has a 52-week low of $32.15 and a 52-week 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 paid a dividend of $0.1875 per share. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.16. This represents a $0.75 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Wednesday, March 28th. Steel Dynamics’s payout ratio is presently 15.01%.
Several equities research analysts have weighed in on the company. BidaskClub upgraded Steel Dynamics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, February 14th. Cowen set a $60.00 target price on Steel Dynamics and gave the stock a “buy” rating in a research report on Monday, February 5th. ValuEngine raised Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Credit Suisse Group raised their price objective on Steel Dynamics from $43.00 to $53.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, BMO Capital Markets raised their price objective on Steel Dynamics to $55.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Steel Dynamics currently 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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