Steel Dynamics, Inc. (STLD) Shares Bought by Pitcairn Co.
Pitcairn Co. raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 23.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,627 shares of the basic materials company’s stock after buying an additional 5,161 shares during the period. Pitcairn Co.’s holdings in Steel Dynamics were worth $952,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in STLD. BlackRock Inc. raised its stake 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 valued at $785,405,000 after buying an additional 1,840,803 shares during the period. Boston Partners grew its position in shares of Steel Dynamics by 11.9% in the second quarter. Boston Partners now owns 16,383,812 shares of the basic materials company’s stock valued at $586,703,000 after purchasing an additional 1,742,242 shares during the last quarter. State Street Corp grew its position in shares of 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 valued at $317,162,000 after purchasing an additional 1,346,487 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Steel Dynamics by 21.7% in the second quarter. Prudential Financial Inc. now owns 4,079,525 shares of the basic materials company’s stock valued at $146,088,000 after purchasing an additional 727,722 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Steel Dynamics in the second quarter valued at approximately $24,070,000. Hedge funds and other institutional investors own 82.82% of the company’s stock.
Shares of Steel Dynamics, Inc. (NASDAQ STLD) traded up $0.04 during trading hours on Friday, reaching $37.23. The company had a trading volume of 3,183,155 shares, compared to its average volume of 2,616,137. The firm has a market capitalization of $8,812.24, a P/E ratio of 14.64, a P/E/G ratio of 1.17 and a beta of 1.40. Steel Dynamics, Inc. has a 1-year low of $31.28 and a 1-year high of $40.17. The company has a quick ratio of 1.95, a current ratio of 3.35 and a debt-to-equity ratio of 0.80.
Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.66. The firm had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The company’s revenue was up 16.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.64 EPS. sell-side analysts predict that Steel Dynamics, Inc. will post 2.66 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 12th. Shareholders of record on Saturday, September 30th were issued a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Thursday, September 28th. Steel Dynamics’s dividend payout ratio is presently 28.57%.
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Several equities analysts have recently commented on the company. Morgan Stanley set a $36.00 target price on Steel Dynamics and gave the company a “hold” rating in a research report on Tuesday, October 24th. Zacks Investment Research raised Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th. Citigroup Inc. upped their target price on Steel Dynamics from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, October 20th. KeyCorp raised Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a research report on Friday, October 20th. Finally, Cowen and Company set a $43.00 target price on Steel Dynamics and gave the company a “buy” rating in a research report on Friday, October 20th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $41.09.
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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