Nikko Asset Management Americas Inc. raised its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 7.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 381,100 shares of the company’s stock after buying an additional 26,400 shares during the period. Nikko Asset Management Americas Inc. owned 0.16% of Steel Dynamics worth $9,524,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. First Citizens Bank & Trust Co. increased its position in Steel Dynamics by 1.3% in the third quarter. First Citizens Bank & Trust Co. now owns 15,723 shares of the company’s stock worth $393,000 after buying an additional 208 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its position in Steel Dynamics by 3.1% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 13,738 shares of the company’s stock worth $337,000 after buying an additional 407 shares during the last quarter. Oakbrook Investments LLC increased its position in Steel Dynamics by 2.1% in the third quarter. Oakbrook Investments LLC now owns 24,550 shares of the company’s stock worth $614,000 after buying an additional 500 shares during the last quarter. Private Advisor Group LLC increased its position in Steel Dynamics by 5.0% in the second quarter. Private Advisor Group LLC now owns 18,104 shares of the company’s stock worth $462,000 after buying an additional 870 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in Steel Dynamics by 4.6% in the second quarter. Ameritas Investment Partners Inc. now owns 38,512 shares of the company’s stock worth $944,000 after buying an additional 1,685 shares during the last quarter. Institutional investors and hedge funds own 80.07% of the company’s stock.
Shares of Steel Dynamics, Inc. (NASDAQ:STLD) traded down 1.08% on Wednesday, reaching $36.73. The company had a trading volume of 639,818 shares. The firm has a market capitalization of $8.96 billion, a P/E ratio of 82.73 and a beta of 1.46. The company’s 50-day moving average price is $36.63 and its 200 day moving average price is $28.50. Steel Dynamics, Inc. has a 52 week low of $15.32 and a 52 week high of $40.17.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, October 19th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.03. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $865.67 million. Steel Dynamics had a return on equity of 14.52% and a net margin of 1.46%. The company’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 earnings per share. On average, analysts expect that Steel Dynamics, Inc. will post $1.92 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Saturday, December 31st will be given a dividend of $0.14 per share. The ex-dividend date is Wednesday, December 28th. This represents a $0.56 annualized dividend and a dividend yield of 1.51%. Steel Dynamics’s dividend payout ratio is currently 127.27%.
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A number of equities analysts have recently issued reports on STLD shares. Credit Suisse Group set a $33.00 price target on Steel Dynamics and gave the stock a “buy” rating in a research report on Saturday, October 8th. BMO Capital Markets reissued a “buy” rating on shares of Steel Dynamics in a research report on Thursday, October 20th. Rosenblatt Securities raised Steel Dynamics from a “neutral” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Friday, October 21st. Cowen and Company set a $33.00 price objective on Steel Dynamics and gave the company a “buy” rating in a research report on Tuesday, September 20th. Finally, Berenberg Bank set a $35.00 price objective on Steel Dynamics and gave the company a “buy” rating in a research report on Tuesday, September 20th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Steel Dynamics presently has an average rating of “Buy” and an average price target of $32.58.
In other news, Director Keith E. Busse sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $27.33, for a total transaction of $54,660.00. Following the completion of the transaction, the director now directly owns 1,004,923 shares of the company’s stock, valued at approximately $27,464,545.59. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 4.10% of the company’s stock.
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