Bank of New York Mellon Corp increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,278,380 shares of the basic materials company’s stock after buying an additional 18,050 shares during the quarter. Bank of New York Mellon Corp’s holdings in Steel Dynamics were worth $141,398,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Steel Dynamics by 13.0% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 17,371 shares of the basic materials company’s stock valued at $622,000 after acquiring an additional 2,000 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of Steel Dynamics during the second quarter valued at approximately $107,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Steel Dynamics by 5.7% during the third 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 acquiring an additional 4,760 shares during the last quarter. APG Asset Management N.V. acquired a new position in shares of Steel Dynamics during the third quarter valued at approximately $9,800,000. Finally, Xact Kapitalforvaltning AB raised its holdings in shares of Steel Dynamics by 3.7% during the third quarter. Xact Kapitalforvaltning AB now owns 52,337 shares of the basic materials company’s stock valued at $1,804,000 after acquiring an additional 1,879 shares during the last quarter. 82.99% of the stock is owned by institutional investors.
Shares of Steel Dynamics, Inc. (STLD) opened at $47.47 on Friday. Steel Dynamics, Inc. has a fifty-two week low of $32.15 and a fifty-two week high of $50.70. The company has a debt-to-equity ratio of 0.74, a current ratio of 4.04 and a quick ratio of 2.29. The company has a market capitalization of $11,250.00, a P/E ratio of 11.49, a P/E/G ratio of 1.00 and a beta of 1.34.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Saturday, March 31st will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.58%. 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. Steel Dynamics’s dividend payout ratio (DPR) is currently 15.01%.
A number of equities analysts have commented on the company. BidaskClub raised 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 company a “buy” rating in a report on Monday, February 5th. ValuEngine raised Steel Dynamics from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Credit Suisse Group increased their target price on Steel Dynamics from $43.00 to $53.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Finally, BMO Capital Markets increased their target price on Steel Dynamics to $55.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $46.64.
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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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