1 week Ago By Defense World Staff
Orion Portfolio Solutions LLC lifted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Free Report) by 63.4% during the 4th quarter, according to its most recent 13F filing with the SEC.
The institutional investor owned 7,354 shares of the basic materials company’s stock after acquiring an additional 2,854 shares during the period. Orion Portfolio Solutions LLC’s holdings in Steel Dynamics were worth $839,000 at the end of the most recent reporting period. Several other institutional investors have also recently added to or reduced their stakes in the business.
Norges Bank acquired a new stake in Steel Dynamics during the fourth quarter worth approximately $336,426,000. Nordea Investment Management AB lifted its position in Steel Dynamics by 22.4% in the fourth quarter.
Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after acquiring an additional 253,802 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Steel Dynamics by 0.
9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,374,907 shares of the basic materials company’s stock valued at $156,836,000 after acquiring an additional 11,672 shares in the last quarter.
Bank of New York Mellon Corp grew its holdings in shares of Steel Dynamics by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,027,341 shares of the basic materials company’s stock worth $117,189,000 after purchasing an additional 114,485 shares during the last quarter.
Finally, Lord Abbett & CO. LLC increased its position in shares of Steel Dynamics by 116.5% during the third quarter.
Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after purchasing an additional 548,086 shares in the last quarter. Hedge funds and other institutional investors own 82.
41% of the company’s stock. Steel Dynamics Stock PerformanceNASDAQ STLD opened at $109.21 on Monday.
The stock has a market capitalization of $16.37 billion, a price-to-earnings ratio of 11.14, a PEG ratio of 1.
05 and a beta of 1.35. The business’s 50 day moving average is $128.
13 and its two-hundred day moving average is $129.07. Steel Dynamics, Inc.
has a 12-month low of $104.60 and a 12-month high of $155.56.
The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.
32. Steel Dynamics (NASDAQ:STLD – Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.
36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33).
Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%.
During the same period last year, the business posted $2.61 EPS. Research analysts expect that Steel Dynamics, Inc.
will post 9.01 EPS for the current year. Steel Dynamics Increases DividendThe business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th.
Investors of record on Monday, March 31st will be paid a $0.50 dividend. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.
46. The ex-dividend date is Monday, March 31st. This represents a $2.
00 annualized dividend and a dividend yield of 1.83%. Steel Dynamics’s dividend payout ratio (DPR) is 20.
41%. Steel Dynamics declared that its Board of Directors has initiated a stock repurchase program on Monday, February 24th that permits the company to buyback $1.50 billion in shares.
This buyback authorization permits the basic materials company to purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
Wall Street Analysts Forecast GrowthA number of research analysts recently issued reports on STLD shares. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target on the stock in a research note on Tuesday, February 11th.
BMO Capital Markets raised shares of Steel Dynamics from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $135.00 to $145.00 in a report on Monday, March 31st.
Morgan Stanley raised shares of Steel Dynamics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $145.00 to $158.00 in a research report on Friday, March 7th.
StockNews.com raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Finally, Citigroup decreased their target price on shares of Steel Dynamics from $160.
00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock.
According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.67.Check Out Our Latest Report on Steel DynamicsInsiders Place Their BetsIn other news, SVP Glenn Pushis sold 23,649 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th.
The stock was sold at an average price of $134.67, for a total transaction of $3,184,810.83.
Following the sale, the senior vice president now owns 122,140 shares of the company’s stock, valued at $16,448,593.80. The trade was a 16.
22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.
30% of the stock is currently owned by company insiders. Steel Dynamics Profile (Free Report)Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.
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