Penserra Capital Management LLC lifted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 313.1% in the 3rd quarter, Holdings Channel reports. The fund owned 4,263 shares of the basic materials company’s stock after acquiring an additional 3,231 shares during the quarter. Penserra Capital Management LLC’s holdings in Steel Dynamics were worth $127,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in STLD. Rehmann Capital Advisory Group raised its position in shares of Steel Dynamics by 96.9% in the 2nd quarter. Rehmann Capital Advisory Group now owns 1,016 shares of the basic materials company’s stock worth $31,000 after acquiring an additional 500 shares in the last quarter. Signaturefd LLC increased its position in Steel Dynamics by 752.6% during the 2nd quarter. Signaturefd LLC now owns 1,151 shares of the basic materials company’s stock valued at $35,000 after buying an additional 1,016 shares in the last quarter. Quest Capital Management Inc. ADV bought a new position in Steel Dynamics during the 3rd quarter valued at approximately $38,000. Stonebridge Capital Advisors LLC bought a new position in Steel Dynamics during the 2nd quarter valued at approximately $39,000. Finally, AdvisorNet Financial Inc increased its position in Steel Dynamics by 39.1% during the 3rd quarter. AdvisorNet Financial Inc now owns 2,001 shares of the basic materials company’s stock valued at $60,000 after buying an additional 562 shares in the last quarter. 79.60% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on STLD. Longbow Research lowered Steel Dynamics from a “buy” rating to a “neutral” rating in a research report on Monday, August 26th. Zacks Investment Research raised Steel Dynamics from a “strong sell” rating to a “hold” rating and set a $25.00 price objective for the company in a research report on Wednesday, October 23rd. BNP Paribas began coverage on Steel Dynamics in a research report on Thursday, November 14th. They set an “outperform” rating and a $40.00 price objective for the company. ValuEngine raised Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Finally, UBS Group reduced their price objective on Steel Dynamics from $47.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $33.17.
Steel Dynamics stock opened at $33.73 on Monday. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 6.14, a PEG ratio of 0.93 and a beta of 1.66. The stock has a fifty day simple moving average of $31.13 and a two-hundred day simple moving average of $29.49. Steel Dynamics, Inc. has a 12 month low of $25.02 and a 12 month high of $39.35. The company has a current ratio of 4.00, a quick ratio of 2.24 and a debt-to-equity ratio of 0.60.
Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, October 16th. The basic materials company reported $0.69 EPS for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.01). The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.62 billion. Steel Dynamics had a return on equity of 22.08% and a net margin of 7.44%. During the same period in the previous year, the business posted $1.69 EPS. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 3.04 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Monday, December 30th. Steel Dynamics’s payout ratio is 17.49%.
Steel Dynamics Company 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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