Banco Bilbao Vizcaya Argentaria S.A. raised its position in Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 9.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 21,000 shares of the basic materials company’s stock after acquiring an additional 1,808 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Steel Dynamics were worth $2,052,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in STLD. Cetera Advisor Networks LLC boosted its position in shares of Steel Dynamics by 43.5% during the first quarter. Cetera Advisor Networks LLC now owns 5,510 shares of the basic materials company’s stock valued at $460,000 after buying an additional 1,670 shares during the last quarter. Natixis Advisors L.P. boosted its position in shares of Steel Dynamics by 23.8% during the first quarter. Natixis Advisors L.P. now owns 21,577 shares of the basic materials company’s stock valued at $1,800,000 after buying an additional 4,154 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Steel Dynamics by 36.5% during the first quarter. Bank of Montreal Can now owns 59,369 shares of the basic materials company’s stock valued at $4,970,000 after buying an additional 15,865 shares during the last quarter. Blair William & Co. IL boosted its position in shares of Steel Dynamics by 20.5% during the first quarter. Blair William & Co. IL now owns 5,852 shares of the basic materials company’s stock valued at $488,000 after buying an additional 996 shares during the last quarter. Finally, Aviva PLC boosted its position in shares of Steel Dynamics by 4.5% during the first quarter. Aviva PLC now owns 64,576 shares of the basic materials company’s stock valued at $5,388,000 after buying an additional 2,772 shares during the last quarter. Institutional investors and hedge funds own 79.54% of the company’s stock.
Steel Dynamics Stock Performance
NASDAQ:STLD opened at $92.17 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.51 and a current ratio of 4.15. Steel Dynamics, Inc. has a 52-week low of $62.44 and a 52-week high of $136.46. The firm has a market cap of $15.58 billion, a price-to-earnings ratio of 4.91 and a beta of 1.48. The business’s fifty day moving average is $102.20 and its 200 day moving average is $108.51.
Steel Dynamics (NASDAQ:STLD – Get Rating) last posted its earnings results on Wednesday, April 19th. The basic materials company reported $4.01 EPS for the quarter, topping the consensus estimate of $3.81 by $0.20. Steel Dynamics had a return on equity of 47.68% and a net margin of 15.73%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.95 billion. During the same period in the previous year, the business earned $6.02 earnings per share. The firm’s revenue was down 12.1% on a year-over-year basis. Research analysts predict that Steel Dynamics, Inc. will post 16.2 EPS for the current year.
Steel Dynamics Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Friday, June 30th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 1.84%. The ex-dividend date is Thursday, June 29th. Steel Dynamics’s payout ratio is 9.05%.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on STLD shares. StockNews.com began coverage on Steel Dynamics in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Citigroup lowered Steel Dynamics from a “buy” rating to a “neutral” rating in a report on Wednesday, March 15th. JPMorgan Chase & Co. began coverage on Steel Dynamics in a report on Tuesday, May 23rd. They set an “underweight” rating and a $82.00 price target on the stock. Credit Suisse Group lifted their price target on Steel Dynamics from $106.00 to $115.00 and gave the stock an “outperform” rating in a report on Friday, April 21st. Finally, UBS Group dropped their price target on Steel Dynamics from $110.00 to $100.00 in a report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Steel Dynamics has a consensus rating of “Hold” and a consensus price target of $107.63.
Steel Dynamics Company Profile
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Steel Dynamics, Inc engages in the manufacture of steel products and metal recycling. It operates through the following segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment consists of sheet products including hot roll, cold roll, and coated steel, long products including structural steel beams, pilings, and standard and premium grade rail, and steel finishing services such as turning, polishing, straightening, chamfering, threading, and precision saw-cutting.
Further Reading
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