Utah Retirement Systems maintained its stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,741 shares of the basic materials company’s stock at the end of the first quarter. Utah Retirement Systems’ holdings in Steel Dynamics were worth $1,485,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in STLD. Boston Partners boosted its position in shares of Steel Dynamics by 25.7% in the first quarter. Boston Partners now owns 14,641,570 shares of the basic materials company’s stock worth $508,941,000 after buying an additional 2,997,302 shares during the last quarter. Norges Bank purchased a new position in Steel Dynamics during the fourth quarter worth $213,607,000. FMR LLC raised its position in Steel Dynamics by 213.7% in the fourth quarter. FMR LLC now owns 5,798,084 shares of the basic materials company’s stock worth $206,295,000 after buying an additional 3,949,708 shares in the last quarter. AQR Capital Management LLC raised its position in Steel Dynamics by 19.8% in the fourth quarter. AQR Capital Management LLC now owns 4,735,334 shares of the basic materials company’s stock worth $168,484,000 after buying an additional 782,961 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Steel Dynamics by 20.0% in the first quarter. Bank of New York Mellon Corp now owns 4,474,765 shares of the basic materials company’s stock worth $155,543,000 after buying an additional 745,978 shares in the last quarter. Institutional investors own 83.62% of the company’s stock.
Steel Dynamics, Inc. (NASDAQ STLD) traded up 0.301% during mid-day trading on Tuesday, hitting $32.959. 1,528,187 shares of the stock were exchanged. The firm has a 50-day moving average price of $34.72 and a 200-day moving average price of $35.51. The stock has a market capitalization of $7.97 billion, a P/E ratio of 15.561 and a beta of 1.29. Steel Dynamics, Inc. has a 12-month low of $22.79 and a 12-month high of $40.17.
Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, April 19th. The basic materials company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. Steel Dynamics had a return on equity of 21.77% and a net margin of 6.19%. The company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the prior year, the business posted $0.26 EPS. The business’s revenue was up 36.0% compared to the same quarter last year. Equities analysts predict that Steel Dynamics, Inc. will post $2.96 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 7th. Investors of record on Friday, June 30th will be paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Wednesday, June 28th. Steel Dynamics’s dividend payout ratio (DPR) is presently 29.25%.
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Several equities analysts recently commented on STLD shares. Deutsche Bank AG upped their price target on shares of Steel Dynamics from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Tuesday, March 21st. Credit Suisse Group upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 price objective for the company in a research note on Wednesday, May 24th. Macquarie reiterated a “neutral” rating on shares of Steel Dynamics in a research note on Monday, March 20th. Zacks Investment Research upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and set a $37.00 target price for the company in a research note on Friday, April 21st. Finally, J P Morgan Chase & Co upped their target price on shares of Steel Dynamics from $41.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, March 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the stock. Steel Dynamics currently has a consensus rating of “Buy” and a consensus price target of $38.03.
About Steel Dynamics
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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