New York State Teachers Retirement System cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.4% during the first quarter, HoldingsChannel.com reports. The firm owned 417,567 shares of the basic materials company’s stock after selling 1,716 shares during the quarter. New York State Teachers Retirement System’s holdings in Steel Dynamics were worth $14,728,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Parallel Advisors LLC purchased a new stake in shares of Steel Dynamics during the first quarter worth approximately $27,000. Ffcm LLC increased its stake in shares of Steel Dynamics by 59.3% during the fourth quarter. Ffcm LLC now owns 924 shares of the basic materials company’s stock worth $28,000 after buying an additional 344 shares during the period. Valeo Financial Advisors LLC increased its stake in shares of Steel Dynamics by 36.4% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,124 shares of the basic materials company’s stock worth $34,000 after buying an additional 300 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of Steel Dynamics by 183.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,126 shares of the basic materials company’s stock worth $34,000 after buying an additional 729 shares during the period. Finally, JOYN Advisors Inc. increased its stake in shares of Steel Dynamics by 34.7% during the fourth quarter. JOYN Advisors Inc. now owns 1,164 shares of the basic materials company’s stock worth $35,000 after buying an additional 300 shares during the period. Institutional investors own 83.75% of the company’s stock.
Shares of STLD opened at $29.64 on Tuesday. The company has a debt-to-equity ratio of 0.61, a current ratio of 4.02 and a quick ratio of 2.15. The company has a market capitalization of $6.67 billion, a P/E ratio of 5.40, a price-to-earnings-growth ratio of 0.66 and a beta of 1.31. Steel Dynamics, Inc. has a 52-week low of $28.91 and a 52-week high of $51.69.
Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Monday, April 22nd. The basic materials company reported $0.91 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.91. The firm had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.80 billion. Steel Dynamics had a return on equity of 33.56% and a net margin of 10.26%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 earnings per share. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 3.78 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Sunday, June 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Thursday, June 27th. Steel Dynamics’s dividend payout ratio (DPR) is 17.49%.
A number of analysts recently weighed in on the stock. Citigroup set a $40.00 target price on shares of Steel Dynamics and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. BidaskClub lowered shares of Steel Dynamics from a “sell” rating to a “strong sell” rating in a research note on Tuesday. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $35.50 to $47.00 in a research note on Wednesday, May 8th. Goldman Sachs Group set a $44.00 target price on shares of Steel Dynamics and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, ValuEngine lowered shares of Steel Dynamics from a “sell” rating to a “strong sell” rating in a research note on Monday, April 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the stock. Steel Dynamics presently has a consensus rating of “Buy” and an average target price of $47.64.
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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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