Steel Dynamics, Inc. (NASDAQ:STLD) Stock Position Boosted by Candriam Luxembourg S.C.A.
Candriam Luxembourg S.C.A. grew its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 5.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 25,958 shares of the basic materials company’s stock after purchasing an additional 1,259 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Steel Dynamics were worth $677,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in STLD. Verus Capital Partners LLC acquired a new position in shares of Steel Dynamics in the fourth quarter worth about $36,000. First Quadrant L P CA acquired a new position in shares of Steel Dynamics in the first quarter worth about $94,000. Synovus Financial Corp boosted its holdings in shares of Steel Dynamics by 4,795.9% in the first quarter. Synovus Financial Corp now owns 4,749 shares of the basic materials company’s stock worth $107,000 after buying an additional 4,652 shares during the period. Fifth Third Bancorp lifted its position in shares of Steel Dynamics by 39.2% in the first quarter. Fifth Third Bancorp now owns 5,289 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 1,489 shares in the last quarter. Finally, Cerebellum GP LLC purchased a new stake in shares of Steel Dynamics in the second quarter worth approximately $132,000. Institutional investors own 80.47% of the company’s stock.
STLD has been the subject of a number of research analyst reports. Credit Suisse Group increased their price target on shares of Steel Dynamics from $25.00 to $28.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. reduced their price target on shares of Steel Dynamics from $35.00 to $28.00 and set an “overweight” rating for the company in a research report on Friday, April 17th. Deutsche Bank increased their price target on shares of Steel Dynamics from $27.00 to $31.00 and gave the stock a “buy” rating in a research report on Wednesday. TheStreet lowered shares of Steel Dynamics from a “b-” rating to a “c+” rating in a research report on Wednesday, July 8th. Finally, UBS Group reduced their price target on shares of Steel Dynamics from $43.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $31.18.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Monday, July 20th. The basic materials company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.06. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.06 billion. Steel Dynamics had a net margin of 5.60% and a return on equity of 14.53%. The company’s revenue for the quarter was down 24.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 earnings per share. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 2.15 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 3.65%. The ex-dividend date was Monday, June 29th. Steel Dynamics’s payout ratio is presently 32.26%.
Steel Dynamics Profile
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.
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