Pacer Advisors Inc. raised its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 77.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 153,339 shares of the basic materials company’s stock after purchasing an additional 66,813 shares during the quarter. Pacer Advisors Inc.’s holdings in Steel Dynamics were worth $4,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently made changes to their positions in the company. Rehmann Capital Advisory Group lifted its position in Steel Dynamics by 96.9% during the second quarter. Rehmann Capital Advisory Group now owns 1,016 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 500 shares during the last quarter. Signaturefd LLC lifted its position in Steel Dynamics by 752.6% during the second quarter. Signaturefd LLC now owns 1,151 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 1,016 shares during the last quarter. Stonebridge Capital Advisors LLC bought a new stake in Steel Dynamics during the second quarter valued at approximately $39,000. AdvisorNet Financial Inc bought a new stake in Steel Dynamics during the second quarter valued at approximately $43,000. Finally, Zions Bancorporation N.A. lifted its position in Steel Dynamics by 440.5% during the second quarter. Zions Bancorporation N.A. now owns 1,454 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 1,185 shares during the last quarter. Institutional investors and hedge funds own 79.78% of the company’s stock.
STLD stock opened at $30.38 on Friday. The company has a market capitalization of $6.18 billion, a PE ratio of 5.53, a price-to-earnings-growth ratio of 0.76 and a beta of 1.66. Steel Dynamics, Inc. has a one year low of $25.02 and a one year high of $43.50. The company’s 50 day moving average price is $28.80 and its two-hundred day moving average price is $30.08. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.40 and a current ratio of 4.35.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, July 22nd. The basic materials company reported $0.87 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.02). The business had revenue of $2.77 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Steel Dynamics had a return on equity of 28.50% and a net margin of 9.11%. The company’s revenue was down 10.4% compared to the same quarter last year. During the same period last year, the business posted $1.53 earnings per share. On average, research analysts predict that Steel Dynamics, Inc. will post 3.1 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Friday, September 27th. Steel Dynamics’s dividend payout ratio (DPR) is presently 17.49%.
In other Steel Dynamics news, SVP Miguel Alvarez purchased 8,920 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $27.72 per share, with a total value of $247,262.40. Following the completion of the purchase, the senior vice president now owns 700 shares of the company’s stock, valued at approximately $19,404. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 4.90% of the company’s stock.
STLD has been the subject of several research analyst reports. BMO Capital Markets lowered shares of Steel Dynamics to a “hold” rating and set a $30.00 target price for the company. in a research report on Friday, September 13th. ValuEngine upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Friday. Deutsche Bank reiterated a “hold” rating on shares of Steel Dynamics in a research report on Thursday, June 27th. Macquarie set a $31.00 target price on shares of Steel Dynamics and gave the company a “hold” rating in a research report on Wednesday, September 18th. Finally, Longbow Research downgraded shares of Steel Dynamics from a “buy” rating to a “neutral” rating in a research note on Monday, August 26th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $33.40.
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. 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; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.
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