Stifel Financial Corp boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 92,665 shares of the basic materials company’s stock after acquiring an additional 2,725 shares during the period. Stifel Financial Corp’s holdings in Steel Dynamics were worth $3,188,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in STLD. Toronto Dominion Bank acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at $107,000. Hefty Wealth Partners grew its holdings in shares of Steel Dynamics by 76.1% in the 3rd quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock valued at $118,000 after buying an additional 1,477 shares during the period. Advisory Services Network LLC grew its holdings in shares of Steel Dynamics by 2.3% in the 2nd quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock valued at $158,000 after buying an additional 101 shares during the period. IHT Wealth Management LLC grew its holdings in shares of Steel Dynamics by 0.7% in the 2nd quarter. IHT Wealth Management LLC now owns 407 shares of the basic materials company’s stock valued at $198,000 after buying an additional 3 shares during the period. Finally, Greenwood Capital Associates LLC acquired a new position in shares of Steel Dynamics in the 3rd quarter valued at $205,000. 83.45% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on the stock. Jefferies Group reissued a “buy” rating on shares of Steel Dynamics in a report on Saturday, September 16th. KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 price target for the company in a report on Friday, October 20th. Citigroup decreased their price target on shares of Steel Dynamics from $43.00 to $41.00 and set a “buy” rating for the company in a report on Friday, September 15th. Macquarie assumed coverage on shares of Steel Dynamics in a report on Wednesday, September 6th. They issued a “neutral” rating and a $36.00 price target for the company. Finally, BidaskClub raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Tuesday, December 12th. Seven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Steel Dynamics has an average rating of “Buy” and an average price target of $41.70.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, meeting the consensus estimate of $0.66. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The firm’s revenue was up 16.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.64 EPS. equities analysts predict that Steel Dynamics, Inc. will post 2.67 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Sunday, December 31st will be given a $0.155 dividend. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.62 annualized dividend and a yield of 1.52%. Steel Dynamics’s dividend payout ratio is currently 28.57%.
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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