ING Groep NV reduced its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 43.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,454 shares of the basic materials company’s stock after selling 5,024 shares during the period. ING Groep NV’s holdings in Steel Dynamics were worth $278,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Toronto Dominion Bank purchased a new stake in Steel Dynamics during the 2nd quarter valued at approximately $107,000. Cerebellum GP LLC purchased a new stake in Steel Dynamics during the 4th quarter valued at approximately $132,000. Steward Partners Investment Advisory LLC purchased a new stake in Steel Dynamics during the 3rd quarter valued at approximately $112,000. National Pension Service purchased a new stake in Steel Dynamics during the 4th quarter valued at approximately $150,000. Finally, Cubist Systematic Strategies LLC grew its holdings in Steel Dynamics by 80.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock valued at $123,000 after buying an additional 1,589 shares in the last quarter. 82.99% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on STLD. Zacks Investment Research lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. KeyCorp set a $49.00 price objective on shares of Steel Dynamics and gave the company a “buy” rating in a report on Wednesday, January 10th. BidaskClub raised shares of Steel Dynamics from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 6th. Bank of America set a $51.00 target price on shares of Steel Dynamics and gave the company a “buy” rating in a report on Monday, January 8th. Finally, Cowen set a $60.00 target price on shares of Steel Dynamics and gave the company a “buy” rating in a report on Monday, February 5th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Steel Dynamics currently has an average rating of “Buy” and a consensus price target of $46.64.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Saturday, March 31st will be given a $0.1875 dividend. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.16. This represents a $0.75 dividend on an annualized basis and a yield of 1.53%. Steel Dynamics’s dividend payout ratio (DPR) is currently 15.01%.
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.
Want to see what other hedge funds are holding STLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steel Dynamics, Inc. (NASDAQ:STLD).
Receive News & Ratings for Steel Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.