Captrust Financial Advisors cut its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 14.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,389 shares of the basic materials company’s stock after selling 3,550 shares during the quarter. Captrust Financial Advisors’ holdings in Steel Dynamics were worth $647,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. raised its holdings in Steel Dynamics by 3.4% in the 4th quarter. BlackRock Inc. now owns 23,894,257 shares of the basic materials company’s stock worth $717,782,000 after purchasing an additional 777,025 shares in the last quarter. Vanguard Group Inc raised its holdings in Steel Dynamics by 4.3% in the 3rd quarter. Vanguard Group Inc now owns 21,357,596 shares of the basic materials company’s stock worth $965,150,000 after purchasing an additional 882,061 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Steel Dynamics by 7.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,472,381 shares of the basic materials company’s stock worth $134,353,000 after acquiring an additional 309,961 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Steel Dynamics by 2,996.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,061,799 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 3,930,619 shares in the last quarter. Finally, Steadfast Capital Management LP increased its stake in shares of Steel Dynamics by 0.5% in the 3rd quarter. Steadfast Capital Management LP now owns 3,457,050 shares of the basic materials company’s stock worth $156,224,000 after acquiring an additional 18,158 shares in the last quarter. Institutional investors and hedge funds own 78.22% of the company’s stock.
Several research analysts recently issued reports on STLD shares. Credit Suisse Group upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 8th. They noted that the move was a valuation call. BidaskClub lowered shares of Steel Dynamics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, November 28th. ValuEngine upgraded shares of Steel Dynamics from a “strong sell” rating to a “sell” rating in a research note on Thursday, January 10th. Cowen started coverage on shares of Steel Dynamics in a research note on Tuesday, January 8th. They issued a “market perform” rating and a $32.00 price target for the company. Finally, UBS Group set a $36.00 price target on shares of Steel Dynamics and gave the stock a “hold” rating in a research note on Monday, December 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $50.18.
Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, January 22nd. The basic materials company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.06. Steel Dynamics had a net margin of 10.65% and a return on equity of 35.44%. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period in the prior year, the firm posted $0.54 EPS. Steel Dynamics’s revenue for the quarter was up 24.3% on a year-over-year basis. On average, analysts forecast that Steel Dynamics, Inc. will post 4.13 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Sunday, March 31st will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 2.73%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, March 29th. Steel Dynamics’s dividend payout ratio is 13.66%.
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. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.
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