IQ EQ FUND MANAGEMENT IRELAND Ltd cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Free Report) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,104 shares of the basic materials company’s stock after selling 207 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Steel Dynamics were worth $2,030,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in STLD. Larson Financial Group LLC acquired a new position in Steel Dynamics during the 1st quarter valued at about $25,000. Innealta Capital LLC bought a new stake in shares of Steel Dynamics in the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Steel Dynamics in the 2nd quarter valued at about $41,000. Riverview Trust Co bought a new stake in shares of Steel Dynamics in the 1st quarter valued at about $50,000. Finally, Cullen Frost Bankers Inc. increased its stake in shares of Steel Dynamics by 33.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 100 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have recently commented on the company. BMO Capital Markets upped their price target on Steel Dynamics from $127.00 to $130.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price target for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. lowered their price target on Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price target for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Finally, Morgan Stanley lowered their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $142.86.
Steel Dynamics Price Performance
NASDAQ STLD opened at $135.05 on Friday. The business has a 50 day simple moving average of $120.44 and a 200 day simple moving average of $127.60. Steel Dynamics, Inc. has a 52-week low of $98.25 and a 52-week high of $151.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The stock has a market cap of $20.84 billion, a price-to-earnings ratio of 10.83 and a beta of 1.31.
Steel Dynamics (NASDAQ:STLD – Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.07. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the business earned $3.47 EPS. Analysts anticipate that Steel Dynamics, Inc. will post 10.12 earnings per share for the current fiscal year.
Steel Dynamics Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.46 per share. The ex-dividend date was Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.36%. Steel Dynamics’s dividend payout ratio is currently 14.76%.
About Steel Dynamics
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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