South Dakota Investment Council held its position in Steel Dynamics, Inc. (NASDAQ:STLD) during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 72,800 shares of the basic materials company’s stock at the end of the first quarter. South Dakota Investment Council’s holdings in Steel Dynamics were worth $2,531,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Steel Dynamics during the fourth quarter valued at $213,607,000. FMR LLC boosted its position in Steel Dynamics by 213.7% in the fourth quarter. FMR LLC now owns 5,798,084 shares of the basic materials company’s stock valued at $206,295,000 after buying an additional 3,949,708 shares during the last quarter. Boston Partners boosted its position in Steel Dynamics by 25.7% in the first quarter. Boston Partners now owns 14,641,570 shares of the basic materials company’s stock valued at $508,941,000 after buying an additional 2,997,302 shares during the last quarter. Highline Capital Management L.P. purchased a new position in Steel Dynamics during the third quarter valued at $70,494,000. Finally, Discovery Capital Management LLC CT purchased a new position in Steel Dynamics during the fourth quarter valued at $62,170,000. 83.62% of the stock is currently owned by hedge funds and other institutional investors.
Steel Dynamics, Inc. (NASDAQ STLD) traded up 1.04% during mid-day trading on Thursday, hitting $36.86. 4,094,522 shares of the stock were exchanged. Steel Dynamics, Inc. has a 52 week low of $22.79 and a 52 week high of $40.17. The company’s 50-day moving average price is $34.25 and its 200 day moving average price is $35.30. The firm has a market capitalization of $8.91 billion, a price-to-earnings ratio of 17.40 and a beta of 1.25.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, April 19th. The basic materials company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Steel Dynamics had a net margin of 6.19% and a return on equity of 21.77%. The firm’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.26 EPS. Equities research analysts expect that Steel Dynamics, Inc. will post $2.82 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Shareholders of record on Friday, June 30th will be given a $0.155 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.62 annualized dividend and a yield of 1.68%. Steel Dynamics’s dividend payout ratio (DPR) is 29.25%.
Several research analysts recently issued reports on STLD shares. Deutsche Bank AG upped their target price on shares of Steel Dynamics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, March 21st. Credit Suisse Group upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 target price for the company in a research report on Wednesday, May 24th. Macquarie reiterated a “neutral” rating on shares of Steel Dynamics in a research report on Monday, March 20th. Zacks Investment Research upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research report on Friday, April 21st. Finally, J P Morgan Chase & Co upped their target price on shares of Steel Dynamics from $41.00 to $44.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 22nd. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Steel Dynamics presently has a consensus rating of “Buy” and a consensus target price of $38.03.
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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