Ameriprise Financial Inc. trimmed its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 23.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,252,497 shares of the basic materials company’s stock after selling 684,820 shares during the quarter. Ameriprise Financial Inc. owned about 0.94% of Steel Dynamics worth $77,646,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also bought and sold shares of STLD. Commonwealth Equity Services Inc lifted its stake in shares of Steel Dynamics by 49.8% in the 3rd quarter. Commonwealth Equity Services Inc now owns 38,047 shares of the basic materials company’s stock valued at $1,311,000 after acquiring an additional 12,649 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Steel Dynamics in the 3rd quarter valued at about $2,973,000. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Steel Dynamics by 9.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 16,133 shares of the basic materials company’s stock valued at $556,000 after acquiring an additional 1,416 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Steel Dynamics by 49.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 146,339 shares of the basic materials company’s stock valued at $5,293,000 after acquiring an additional 48,524 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Steel Dynamics by 10.5% in the 3rd quarter. Rhumbline Advisers now owns 522,993 shares of the basic materials company’s stock valued at $18,028,000 after acquiring an additional 49,622 shares during the last quarter. Institutional investors and hedge funds own 83.45% of the company’s stock.
Steel Dynamics, Inc. (NASDAQ STLD) opened at $39.21 on Thursday. The company has a market capitalization of $9,177.14, a PE ratio of 15.25, a P/E/G ratio of 1.21 and a beta of 1.40. Steel Dynamics, Inc. has a 12-month low of $32.15 and a 12-month high of $40.41. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.35 and a quick ratio of 1.95.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. The company had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The firm’s revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the business posted $0.64 earnings per share. analysts expect that Steel Dynamics, Inc. will post 2.67 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Sunday, December 31st will be paid a $0.155 dividend. This represents a $0.62 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Thursday, December 28th. Steel Dynamics’s payout ratio is currently 28.57%.
A number of research analysts have commented on STLD shares. Bank of America reaffirmed a “buy” rating and set a $44.00 price target (up previously from $42.00) on shares of Steel Dynamics in a research report on Tuesday, September 5th. Jefferies Group reaffirmed a “buy” rating and set a $43.00 price target on shares of Steel Dynamics in a research report on Thursday, August 31st. Macquarie started coverage on Steel Dynamics in a research report on Wednesday, September 6th. They set a “neutral” rating and a $36.00 price target for the company. Morgan Stanley set a $36.00 price target on Steel Dynamics and gave the company a “hold” rating in a research report on Tuesday, October 24th. Finally, KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a report on Friday, October 20th. Eight analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $41.70.
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About Steel Dynamics
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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