Ellington Management Group LLC bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 23,300 shares of the basic materials company’s stock, valued at approximately $1,005,000.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Aperio Group LLC lifted its position in Steel Dynamics by 7.5% in the third quarter. Aperio Group LLC now owns 82,159 shares of the basic materials company’s stock worth $2,832,000 after buying an additional 5,728 shares during the last quarter. Pictet Asset Management Ltd. lifted its position in Steel Dynamics by 2.6% in the third quarter. Pictet Asset Management Ltd. now owns 82,500 shares of the basic materials company’s stock worth $2,844,000 after buying an additional 2,100 shares during the last quarter. Crossmark Global Holdings Inc. bought a new stake in Steel Dynamics in the third quarter worth $785,000. State of Wisconsin Investment Board lifted its position in Steel Dynamics by 10.6% in the third quarter. State of Wisconsin Investment Board now owns 524,479 shares of the basic materials company’s stock worth $18,079,000 after buying an additional 50,318 shares during the last quarter. Finally, Swiss National Bank lifted its position in Steel Dynamics by 0.9% in the third quarter. Swiss National Bank now owns 891,400 shares of the basic materials company’s stock worth $30,727,000 after buying an additional 7,600 shares during the last quarter. Hedge funds and other institutional investors own 85.46% of the company’s stock.
A number of analysts recently issued reports on the company. BidaskClub downgraded Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Credit Suisse Group raised their price target on Steel Dynamics from $43.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Jefferies Group restated a “buy” rating on shares of Steel Dynamics in a research report on Wednesday, January 24th. Cowen reiterated an “outperform” rating and set a $60.00 target price (up from $53.00) on shares of Steel Dynamics in a research report on Wednesday, January 24th. Finally, BMO Capital Markets lifted their target price on Steel Dynamics to $55.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Steel Dynamics has an average rating of “Buy” and a consensus price target of $46.64.
Steel Dynamics (NASDAQ:STLD) last released its earnings results on Monday, January 22nd. The basic materials company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.05. The business had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.17 billion. Steel Dynamics had a return on equity of 21.48% and a net margin of 8.52%. equities research analysts predict that Steel Dynamics, Inc. will post 4 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Saturday, March 31st will be paid a dividend of $0.1875 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.75 annualized dividend and a dividend yield of 1.62%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.16. Steel Dynamics’s dividend payout ratio (DPR) is currently 18.40%.
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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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