Robeco Institutional Asset Management B.V. grew its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 49.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 847,466 shares of the basic materials company’s stock after purchasing an additional 280,904 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Steel Dynamics were worth $25,253,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Peregrine Capital Management LLC boosted its stake in shares of Steel Dynamics by 3.4% in the third quarter. Peregrine Capital Management LLC now owns 520,311 shares of the basic materials company’s stock valued at $15,505,000 after purchasing an additional 17,346 shares during the period. Winmill & CO. Inc. acquired a new stake in Steel Dynamics in the third quarter valued at approximately $2,637,000. Valeo Financial Advisors LLC raised its holdings in Steel Dynamics by 19.1% in the third quarter. Valeo Financial Advisors LLC now owns 3,130 shares of the basic materials company’s stock valued at $93,000 after acquiring an additional 502 shares in the last quarter. Pacer Advisors Inc. raised its holdings in Steel Dynamics by 77.2% in the third quarter. Pacer Advisors Inc. now owns 153,339 shares of the basic materials company’s stock valued at $4,570,000 after acquiring an additional 66,813 shares in the last quarter. Finally, Macquarie Group Ltd. raised its holdings in Steel Dynamics by 37.2% in the second quarter. Macquarie Group Ltd. now owns 82,025 shares of the basic materials company’s stock valued at $2,477,000 after acquiring an additional 22,225 shares in the last quarter. 80.04% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Miguel Alvarez acquired 8,920 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $27.72 per share, for a total transaction of $247,262.40. Following the transaction, the senior vice president now directly owns 700 shares in the company, valued at approximately $19,404. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.90% of the company’s stock.
Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 16th. The basic materials company reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.01). The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.62 billion. Steel Dynamics had a net margin of 7.44% and a return on equity of 22.08%. During the same period in the previous year, the firm earned $1.69 earnings per share. On average, equities research analysts predict that Steel Dynamics, Inc. will post 3.05 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a $0.24 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.96 dividend on an annualized basis and a yield of 3.34%. Steel Dynamics’s dividend payout ratio (DPR) is 17.49%.
Several brokerages recently weighed in on STLD. Longbow Research cut shares of Steel Dynamics from a “buy” rating to a “neutral” rating in a report on Monday, August 26th. JPMorgan Chase & Co. set a $35.00 target price on shares of Steel Dynamics and gave the company a “buy” rating in a report on Monday, September 23rd. BMO Capital Markets cut shares of Steel Dynamics to a “hold” rating and set a $30.00 target price on the stock. in a report on Friday, September 13th. BidaskClub cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a report on Saturday. Finally, ValuEngine cut shares of Steel Dynamics from a “buy” rating to a “hold” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $33.40.
Steel Dynamics Company Profile
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.
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