UBS Oconnor LLC Reduces Stake in Steel Dynamics, Inc. (STLD)
UBS Oconnor LLC reduced its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 26.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 459,290 shares of the company’s stock after selling 169,083 shares during the period. UBS Oconnor LLC’s holdings in Steel Dynamics were worth $11,478,000 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 the company. DekaBank Deutsche Girozentrale increased its stake in shares of Steel Dynamics by 181.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,496 shares of the company’s stock valued at $113,000 after buying an additional 2,896 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Steel Dynamics by 1,676.0% in the second quarter. Tower Research Capital LLC TRC now owns 5,843 shares of the company’s stock valued at $143,000 after buying an additional 5,514 shares during the last quarter. Loomis Sayles & Co. L P increased its stake in shares of Steel Dynamics by 991.5% in the second quarter. Loomis Sayles & Co. L P now owns 7,029 shares of the company’s stock valued at $172,000 after buying an additional 6,385 shares during the last quarter. Acrospire Investment Management LLC increased its stake in shares of Steel Dynamics by 33.3% in the third quarter. Acrospire Investment Management LLC now owns 7,599 shares of the company’s stock valued at $190,000 after buying an additional 1,900 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Steel Dynamics by 13.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,986 shares of the company’s stock valued at $200,000 after buying an additional 961 shares during the last quarter. Institutional investors own 80.07% of the company’s stock.
Shares of Steel Dynamics, Inc. (NASDAQ:STLD) opened at 35.74 on Friday. The stock has a 50 day moving average price of $36.63 and a 200-day moving average price of $28.50. Steel Dynamics, Inc. has a 1-year low of $15.32 and a 1-year high of $40.17. The stock has a market capitalization of $8.71 billion, a PE ratio of 80.50 and a beta of 1.46.
Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 19th. The company reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.03. Steel Dynamics had a return on equity of 14.52% and a net margin of 1.46%. The business had revenue of $2.10 billion for the quarter, compared to analysts’ expectations of $865.67 million. During the same quarter last year, the firm earned $0.25 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts forecast that Steel Dynamics, Inc. will post $1.92 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Saturday, December 31st will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $0.56 annualized dividend and a yield of 1.57%. Steel Dynamics’s payout ratio is presently 127.27%.
Several analysts have weighed in on the company. Credit Suisse Group set a $33.00 price objective on Steel Dynamics and gave the company a “buy” rating in a research report on Saturday, October 8th. Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Tuesday, December 27th. Jefferies Group reiterated a “buy” rating and issued a $45.00 price objective (up previously from $32.00) on shares of Steel Dynamics in a research report on Tuesday, December 13th. BMO Capital Markets restated a “buy” rating on shares of Steel Dynamics in a report on Thursday, October 20th. Finally, Macquarie downgraded Steel Dynamics from an “outperform” rating to a “neutral” rating and set a $35.00 target price for the company. in a report on Tuesday, November 29th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $32.74.
In other Steel Dynamics news, Director Keith E. Busse sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $27.33, for a total transaction of $54,660.00. Following the sale, the director now owns 1,004,923 shares in the company, valued at approximately $27,464,545.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.10% of the company’s stock.
Steel Dynamics Company Profile
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