Northern Trust Corp boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,744,490 shares of the basic materials company’s stock after acquiring an additional 43,938 shares during the period. Northern Trust Corp’s holdings in Steel Dynamics were worth $82,444,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. O Shaughnessy Asset Management LLC boosted its position in shares of Steel Dynamics by 5.9% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 159,400 shares of the basic materials company’s stock worth $4,795,000 after purchasing an additional 8,890 shares during the period. Mn Services Vermogensbeheer B.V. lifted its holdings in shares of Steel Dynamics by 5.8% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 39,851 shares of the basic materials company’s stock worth $1,047,000 after buying an additional 2,200 shares in the last quarter. Martingale Asset Management L P purchased a new position in shares of Steel Dynamics in the fourth quarter worth $1,135,000. State of Tennessee Treasury Department lifted its holdings in shares of Steel Dynamics by 2.0% in the fourth quarter. State of Tennessee Treasury Department now owns 297,764 shares of the basic materials company’s stock worth $8,945,000 after buying an additional 5,919 shares in the last quarter. Finally, Rafferty Asset Management LLC lifted its holdings in shares of Steel Dynamics by 40.4% in the fourth quarter. Rafferty Asset Management LLC now owns 70,647 shares of the basic materials company’s stock worth $2,122,000 after buying an additional 20,330 shares in the last quarter. 78.22% of the stock is owned by institutional investors.
Several research firms have recently commented on STLD. BidaskClub downgraded shares of Steel Dynamics from a “sell” rating to a “strong sell” rating in a report on Wednesday, November 28th. ValuEngine downgraded shares of Steel Dynamics from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 27th. Zacks Investment Research raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. Cowen began coverage on shares of Steel Dynamics in a report on Tuesday, January 8th. They issued a “market perform” rating and a $32.00 target price on the stock. Finally, UBS Group set a $36.00 target price on shares of Steel Dynamics and gave the stock a “hold” rating in a report on Monday, December 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. Steel Dynamics currently has a consensus rating of “Buy” and a consensus price target of $50.18.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, January 22nd. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.06. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.93 billion. Steel Dynamics had a net margin of 10.65% and a return on equity of 35.44%. Steel Dynamics’s revenue was up 24.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 earnings per share. On average, equities research analysts predict that Steel Dynamics, Inc. will post 4.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Sunday, March 31st will be paid a dividend of $0.24 per share. 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. This represents a $0.96 dividend on an annualized basis and a yield of 2.73%. Steel Dynamics’s dividend payout ratio is presently 13.66%.
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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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