AE Wealth Management LLC lessened its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 20.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,602 shares of the basic materials company’s stock after selling 6,755 shares during the period. AE Wealth Management LLC’s holdings in Steel Dynamics were worth $871,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Rehmann Capital Advisory Group boosted its holdings in shares of Steel Dynamics by 96.9% during the second quarter. Rehmann Capital Advisory Group now owns 1,016 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 500 shares during the period. Quest Capital Management Inc. ADV bought a new stake in shares of Steel Dynamics in the third quarter valued at approximately $38,000. Stonebridge Capital Advisors LLC bought a new stake in shares of Steel Dynamics in the second quarter valued at approximately $39,000. AdvisorNet Financial Inc boosted its stake in shares of Steel Dynamics by 39.1% in the third quarter. AdvisorNet Financial Inc now owns 2,001 shares of the basic materials company’s stock valued at $60,000 after buying an additional 562 shares during the period. Finally, Boston Partners bought a new stake in shares of Steel Dynamics in the second quarter valued at approximately $64,000. Institutional investors own 80.76% of the company’s stock.
Several brokerages recently issued reports on STLD. UBS Group cut their price target on Steel Dynamics from $47.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 15th. BidaskClub cut Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Tuesday, January 14th. Longbow Research upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Monday, December 9th. ValuEngine cut Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Saturday, December 7th. Finally, Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $34.75.
Shares of STLD stock opened at $33.21 on Tuesday. Steel Dynamics, Inc. has a 1 year low of $25.02 and a 1 year high of $39.35. The stock has a market cap of $7.16 billion, a P/E ratio of 9.12, a price-to-earnings-growth ratio of 1.02 and a beta of 1.67. The company has a current ratio of 4.00, a quick ratio of 2.24 and a debt-to-equity ratio of 0.60. The stock has a 50 day simple moving average of $34.09 and a 200 day simple moving average of $31.02.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.24 per share. The ex-dividend date was Monday, December 30th. This represents a $0.96 annualized dividend and a yield of 2.89%. Steel Dynamics’s dividend payout ratio is currently 17.49%.
Steel Dynamics Company 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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