First Citizens Bank & Trust Co. cut its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 20.5% during the fourth quarter, Holdings Channel reports. The fund owned 8,789 shares of the basic materials company’s stock after selling 2,263 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Steel Dynamics were worth $379,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of STLD. Vanguard Group Inc. boosted its holdings in Steel Dynamics by 2.6% in the second quarter. Vanguard Group Inc. now owns 24,405,049 shares of the basic materials company’s stock worth $873,945,000 after purchasing an additional 611,096 shares in the last quarter. BlackRock Inc. boosted its holdings in Steel Dynamics by 9.2% in the second quarter. BlackRock Inc. now owns 21,932,609 shares of the basic materials company’s stock worth $785,405,000 after purchasing an additional 1,840,803 shares in the last quarter. Boston Partners boosted its holdings in Steel Dynamics by 3.6% in the third quarter. Boston Partners now owns 16,977,310 shares of the basic materials company’s stock worth $585,208,000 after purchasing an additional 593,498 shares in the last quarter. State Street Corp boosted its holdings in Steel Dynamics by 17.9% in the second quarter. State Street Corp now owns 8,857,134 shares of the basic materials company’s stock worth $317,162,000 after purchasing an additional 1,346,487 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Steel Dynamics by 13.2% in the third quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock worth $159,217,000 after purchasing an additional 539,480 shares in the last quarter. 83.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of Steel Dynamics, Inc. (STLD) opened at $47.01 on Friday. The company has a current ratio of 3.35, a quick ratio of 1.95 and a debt-to-equity ratio of 0.80. Steel Dynamics, Inc. has a fifty-two week low of $32.15 and a fifty-two week high of $47.39. The stock has a market cap of $11,140.00, a PE ratio of 21.66, a price-to-earnings-growth ratio of 1.26 and a beta of 1.40.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 10th. Shareholders of record on Sunday, December 31st were issued a dividend of $0.155 per share. This represents a $0.62 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date was Thursday, December 28th. Steel Dynamics’s dividend payout ratio (DPR) is 28.57%.
STLD has been the subject of a number of recent research reports. Morgan Stanley set a $36.00 price objective on shares of Steel Dynamics and gave the stock a “hold” rating in a report on Tuesday, October 24th. KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 price objective for the company in a report on Friday, October 20th. Jefferies Group reiterated a “buy” rating and issued a $43.00 price objective on shares of Steel Dynamics in a report on Friday, October 6th. Citigroup upped their price objective on shares of Steel Dynamics from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Finally, BidaskClub upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Tuesday, December 12th. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $43.71.
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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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