HBK Investments L P Has $700,000 Stake in Steel Dynamics, Inc. (STLD)

HBK Investments L P reduced its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 78.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 16,234 shares of the basic materials company’s stock after selling 57,439 shares during the quarter. HBK Investments L P’s holdings in Steel Dynamics were worth $700,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC raised its stake in Steel Dynamics by 348.9% in the fourth quarter. Lazard Asset Management LLC now owns 6,556,430 shares of the basic materials company’s stock valued at $282,777,000 after purchasing an additional 5,096,015 shares in the last quarter. Prudential Financial Inc. raised its stake in Steel Dynamics by 13.2% in the third quarter. Prudential Financial Inc. now owns 4,619,005 shares of the basic materials company’s stock valued at $159,217,000 after purchasing an additional 539,480 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Steel Dynamics by 6.2% in the third quarter. Dimensional Fund Advisors LP now owns 4,212,248 shares of the basic materials company’s stock valued at $145,199,000 after purchasing an additional 247,077 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Steel Dynamics by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 3,278,380 shares of the basic materials company’s stock valued at $141,398,000 after purchasing an additional 18,050 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in Steel Dynamics by 24.5% in the third quarter. Schroder Investment Management Group now owns 1,467,843 shares of the basic materials company’s stock valued at $50,758,000 after purchasing an additional 289,193 shares in the last quarter. Institutional investors own 85.42% of the company’s stock.

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A number of brokerages recently weighed in on STLD. Goldman Sachs began coverage on shares of Steel Dynamics in a research note on Tuesday, March 20th. They issued a “buy” rating and a $59.00 target price on the stock. Zacks Investment Research downgraded shares of Steel Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 14th. BidaskClub downgraded shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 8th. Cowen set a $60.00 price target on shares of Steel Dynamics and gave the stock a “buy” rating in a research note on Monday, February 5th. Finally, ValuEngine raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $47.92.

Steel Dynamics stock opened at $42.33 on Friday. The company has a quick ratio of 2.29, a current ratio of 4.04 and a debt-to-equity ratio of 0.74. Steel Dynamics, Inc. has a fifty-two week low of $32.15 and a fifty-two week high of $50.70. The stock has a market cap of $10,132.18, a P/E ratio of 12.56, a PEG ratio of 0.87 and a beta of 1.27.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Monday, January 22nd. The basic materials company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.05. The business had revenue of $2.34 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Steel Dynamics had a net margin of 8.52% and a return on equity of 21.48%. research analysts forecast that Steel Dynamics, Inc. will post 4.14 EPS for the current fiscal year.

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 issued a $0.1875 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.75 annualized dividend and a yield of 1.77%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.16. Steel Dynamics’s payout ratio is 18.40%.

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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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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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