AMP Capital Investors Ltd raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 282.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 235,814 shares of the basic materials company’s stock after acquiring an additional 174,143 shares during the quarter. AMP Capital Investors Ltd owned approximately 0.10% of Steel Dynamics worth $8,128,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. increased its position in shares of Steel Dynamics by 9.2% during the second quarter. BlackRock Inc. now owns 21,932,609 shares of the basic materials company’s stock worth $785,405,000 after buying an additional 1,840,803 shares during the period. State Street Corp boosted its stake in Steel Dynamics by 17.9% during the second quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock worth $317,162,000 after acquiring an additional 1,346,487 shares in the last quarter. Prudential Financial Inc. boosted its stake in Steel Dynamics by 21.7% during the second quarter. Prudential Financial Inc. now owns 4,079,525 shares of the basic materials company’s stock worth $146,088,000 after acquiring an additional 727,722 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in Steel Dynamics during the second quarter worth $24,070,000. Finally, Steadfast Capital Management LP boosted its stake in Steel Dynamics by 27.3% during the second quarter. Steadfast Capital Management LP now owns 2,982,256 shares of the basic materials company’s stock worth $106,795,000 after acquiring an additional 640,259 shares in the last quarter. Hedge funds and other institutional investors own 83.45% of the company’s stock.
Shares of Steel Dynamics, Inc. (NASDAQ:STLD) opened at $40.64 on Wednesday. The company has a market cap of $9,643.94, a PE ratio of 16.02, a PEG ratio of 1.27 and a beta of 1.40. The company has a quick ratio of 1.95, a current ratio of 3.35 and a debt-to-equity ratio of 0.80. Steel Dynamics, Inc. has a 1-year low of $32.15 and a 1-year high of $41.10.
Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The firm’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.64 earnings per share. sell-side analysts expect that Steel Dynamics, Inc. will post 2.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Sunday, December 31st will be issued a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.62 dividend on an annualized basis and a yield of 1.53%. Steel Dynamics’s dividend payout ratio (DPR) is presently 28.57%.
Several research analysts recently issued reports on STLD shares. Bank of America increased their target price on shares of Steel Dynamics from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Cowen set a $43.00 target price on shares of Steel Dynamics and gave the stock a “buy” rating in a research note on Friday, October 20th. Citigroup increased their target price on shares of Steel Dynamics from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Jefferies Group reissued a “buy” rating and set a $43.00 target price on shares of Steel Dynamics in a research note on Thursday, August 31st. Finally, KeyCorp reissued a “buy” rating and set a $44.00 target price on shares of Steel Dynamics in a research note on Friday, November 24th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target 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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