Steel Dynamics, Inc. (STLD) Shares Bought by Schroder Investment Management Group
Schroder Investment Management Group raised its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 969,483 shares of the basic materials company’s stock after buying an additional 4,929 shares during the period. Schroder Investment Management Group owned about 0.40% of Steel Dynamics worth $33,495,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Virginia Retirement Systems ET AL raised its stake in Steel Dynamics by 7.9% in the third quarter. Virginia Retirement Systems ET AL now owns 79,000 shares of the basic materials company’s stock valued at $1,974,000 after buying an additional 5,800 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Steel Dynamics during the first quarter valued at about $3,639,000. Soros Fund Management LLC raised its stake in Steel Dynamics by 178.7% in the fourth quarter. Soros Fund Management LLC now owns 47,369 shares of the basic materials company’s stock valued at $1,685,000 after buying an additional 30,373 shares during the last quarter. Airain ltd raised its stake in Steel Dynamics by 855.0% in the first quarter. Airain ltd now owns 245,479 shares of the basic materials company’s stock valued at $8,533,000 after buying an additional 219,774 shares during the last quarter. Finally, Affinity Wealth Management acquired a new stake in Steel Dynamics during the first quarter valued at about $265,000. 83.58% of the stock is owned by institutional investors and hedge funds.
Steel Dynamics, Inc. (NASDAQ:STLD) traded up 1.00% on Friday, hitting $33.18. 5,442,821 shares of the stock traded hands. The firm’s 50 day moving average is $34.81 and its 200 day moving average is $35.53. Steel Dynamics, Inc. has a 52 week low of $22.79 and a 52 week high of $40.17. The stock has a market cap of $8.02 billion, a price-to-earnings ratio of 15.67 and a beta of 1.29. Steel Dynamics also saw some unusual options trading activity on Tuesday. Stock investors acquired 8,351 put options on the stock. This is an increase of 1,058% compared to the typical daily volume of 721 put options.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, April 19th. The basic materials company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.03. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.19 billion. Steel Dynamics had a net margin of 6.19% and a return on equity of 21.77%. The company’s revenue was up 36.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.26 earnings per share. Equities analysts anticipate that Steel Dynamics, Inc. will post $3.01 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Stockholders of record on Friday, June 30th will be given a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Wednesday, June 28th. Steel Dynamics’s payout ratio is presently 29.25%.
STLD has been the subject of several analyst reports. Berenberg Bank reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Steel Dynamics in a research note on Thursday, March 16th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $45.00 price objective on shares of Steel Dynamics in a research note on Thursday, March 16th. Zacks Investment Research lowered shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Wednesday, March 8th. Deutsche Bank AG lifted their price objective on shares of Steel Dynamics from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, March 21st. Finally, Macquarie raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $38.00 to $44.00 in a research note on Monday, April 24th. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Steel Dynamics currently has an average rating of “Buy” and an average target price of $37.91.
About Steel Dynamics
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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