ETRADE Capital Management LLC boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 25.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,801 shares of the basic materials company’s stock after buying an additional 1,805 shares during the quarter. ETRADE Capital Management LLC’s holdings in Steel Dynamics were worth $380,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of STLD. Cerebellum GP LLC purchased a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $132,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Steel Dynamics during the third quarter valued at approximately $112,000. Amica Retiree Medical Trust purchased a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $143,000. National Pension Service purchased a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $150,000. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of Steel Dynamics by 80.8% during the third quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock valued at $123,000 after purchasing an additional 1,589 shares during the last quarter. Institutional investors and hedge funds own 85.46% of the company’s stock.
Several equities analysts have recently issued reports on STLD shares. Zacks Investment Research lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a report on Tuesday, December 26th. Jefferies Group reiterated a “buy” rating and set a $53.00 target price on shares of Steel Dynamics in a report on Thursday, January 11th. BidaskClub upgraded shares of Steel Dynamics from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 6th. Longbow Research upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Finally, Cowen reiterated an “outperform” rating and set a $60.00 target price (up from $53.00) on shares of Steel Dynamics in a report on Wednesday, January 24th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $46.64.
Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Monday, January 22nd. The basic materials company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.05. Steel Dynamics had a net margin of 8.52% and a return on equity of 21.48%. The company had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.17 billion. analysts anticipate that Steel Dynamics, Inc. will post 4 earnings per share for the current year.
The company also recently disclosed 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. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.16. This represents a $0.75 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Wednesday, March 28th. Steel Dynamics’s payout ratio is presently 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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