KBC Group NV grew its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 14.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,493 shares of the basic materials company’s stock after acquiring an additional 2,952 shares during the period. KBC Group NV’s holdings in Steel Dynamics were worth $810,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of STLD. Chicago Equity Partners LLC boosted its holdings in Steel Dynamics by 189.3% during the second quarter. Chicago Equity Partners LLC now owns 178,705 shares of the basic materials company’s stock worth $6,399,000 after buying an additional 116,925 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Steel Dynamics by 8.2% during the third quarter. Canada Pension Plan Investment Board now owns 544,861 shares of the basic materials company’s stock worth $18,781,000 after acquiring an additional 41,400 shares during the last quarter. Global X MANAGEMENT CO LLC raised its position in Steel Dynamics by 21.3% during the third quarter. Global X MANAGEMENT CO LLC now owns 15,728 shares of the basic materials company’s stock worth $542,000 after acquiring an additional 2,758 shares during the last quarter. APG Asset Management N.V. acquired a new position in Steel Dynamics during the third quarter worth about $9,800,000. Finally, Prudential Financial Inc. raised its position in Steel Dynamics by 13.2% during the third quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock worth $159,217,000 after acquiring an additional 539,480 shares during the last quarter. 83.45% of the stock is currently owned by institutional investors and hedge funds.
STLD has been the subject of a number of research reports. Longbow Research cut shares of Steel Dynamics from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. Bank of America restated a “buy” rating and set a $44.00 target price (up previously from $42.00) on shares of Steel Dynamics in a research report on Tuesday, September 5th. Cowen set a $43.00 target price on shares of Steel Dynamics and gave the stock a “buy” rating in a research report on Friday, October 20th. Citigroup boosted their price objective on shares of Steel Dynamics from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, ValuEngine lowered shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Steel Dynamics currently has a consensus rating of “Buy” and a consensus price target of $41.70.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the firm earned $0.64 earnings per share. Steel Dynamics’s revenue for the quarter was up 16.3% on a year-over-year basis. equities research analysts expect that Steel Dynamics, Inc. will post 2.67 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Sunday, December 31st will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.62 annualized dividend and a yield of 1.56%. Steel Dynamics’s dividend payout ratio is currently 28.57%.
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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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