Bank of Montreal Can lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ: STLD – Get Rating) by 59.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 43,504 shares of the basic materials company stock after selling 62,489 shares during the quarter. Bank of Montreal Can’s holdings in Steel Dynamics were worth $ 2,717,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of STLD. Amundi Pioneer Asset Management Inc. grew its holdings in Steel Dynamics by 12.3% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 256,517 shares of the basic materials company stock worth $ 9,048,000 after acquiring an additional 28,050 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Steel Dynamics by 3.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 235,533 shares of the basic materials company stock valued at $ 13,774,000 after purchasing an additional 8,807 shares during the period. Rockefeller Capital Management LP lifted its position in Steel Dynamics by 2.5% during the 3rd quarter. Rockefeller Capital Management LP now owns 41,931 shares of the basic materials company stock valued at $ 2,451,000 after purchasing an additional 1,005 shares during the period. Hsbc Holdings PLC lifted its position in Steel Dynamics by 0.7% during the 3rd quarter. Hsbc Holdings PLC now owns 158,268 shares of the basic materials company stock valued at $ 9,313,000 after purchasing an additional 1,059 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in Steel Dynamics by 78.4% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 204,759 shares of the basic materials company stock valued at $ 11,974,000 after purchasing an additional 90,010 shares during the period. 83.19% of the stock is currently owned by hedge funds and other institutional investors.
Shares of STLD stock opened at $ 84.98 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.74 and a current ratio of 3.42. The company has a market capitalization of $ 16.03 billion, a P / E ratio of 4.39 and a beta of 1.30. The company 50 day moving average price is $ 83.78 and its two-hundred day moving average price is $ 71.27. Steel Dynamics, Inc. has a 52 week low of $ 50.54 and a 52 week high of $ 100.37.
Steel Dynamics (NASDAQ: STLD – Get Rating) last announced its earnings results on Wednesday, April 20th. The basic materials company reported $ 6.02 EPS for the quarter, topping the consensus estimate of $ 5.58 by $ 0.44. The firm had revenue of $ 5.57 billion for the quarter, compared to the consensus estimate of $ 5.35 billion. Steel Dynamics had a net margin of 19.02% and a return on equity of 69.88%. The business’s quarterly revenue was up 57.1% on a year-over-year basis. During the same period last year, the company posted $ 2.10 EPS. Analysts forecast that Steel Dynamics, Inc. will post 21.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a dividend of $ 0.34 per share. The ex-dividend date is Wednesday, June 29th. This represents a $ 1.36 annualized dividend and a yield of 1.60%. Steel Dynamics’s dividend payout ratio (DPR) is currently 7.02%.
Steel Dynamics announced that its Board of Directors has approved a stock repurchase program on Monday, February 28th that authorizes the company to buyback $ 1.25 billion in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 8.9% of its stock through open market purchases. Stock buyback programs are generally a sign that the company board believes its stock is undervalued.
A number of research analysts have issued reports on the stock. BMO Capital Markets upped their target price on shares of Steel Dynamics from $ 95.00 to $ 104.00 in a research report on Friday, April 22nd. JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $ 95.00 to $ 117.00 and gave the company an “overweight” rating in a research report on Thursday, March 24th. Zacks Investment Research downgraded shares of Steel Dynamics from a “strong-buy” rating to a “hold” rating and set a $ 82.00 price target on the stock. in a research report on Tuesday, May 24th. StockNews.com assumed coverage on shares of Steel Dynamics in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group downgraded shares of Steel Dynamics from a “buy” rating to a “neutral” rating and cut their price target for the company from $ 114.00 to $ 92.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $ 86.25.
Steel Dynamics Company Profile: (Get Rating)
Steel Dynamics, Inc., together with its subsidiaries, operates as a steel producer and metal recycler in the United States. 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; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.
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