3,760 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Acquired by Symmetry Investments LP

Symmetry Investments LP purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,760 shares of the basic materials company’s stock, valued at approximately $487,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Thrivent Financial for Lutherans grew its position in Steel Dynamics by 1.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock worth $228,999,000 after acquiring an additional 22,390 shares during the last quarter. Sei Investments Co. grew its position in Steel Dynamics by 19.6% during the 2nd quarter. Sei Investments Co. now owns 129,316 shares of the basic materials company’s stock worth $16,750,000 after acquiring an additional 21,204 shares during the last quarter. Pacer Advisors Inc. grew its position in Steel Dynamics by 7.0% during the 2nd quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock worth $276,891,000 after acquiring an additional 140,042 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in Steel Dynamics by 65.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock worth $74,064,000 after acquiring an additional 225,832 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in Steel Dynamics by 5.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 20,200 shares of the basic materials company’s stock worth $2,616,000 after acquiring an additional 1,100 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on STLD shares. JPMorgan Chase & Co. upgraded Steel Dynamics from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $120.00 to $131.00 in a research report on Monday, September 9th. BMO Capital Markets cut their price objective on Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 17th. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Bank of America cut their price objective on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Finally, Morgan Stanley cut their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $141.29.

Steel Dynamics Trading Down 0.2 %

STLD opened at $119.83 on Friday. The stock has a market cap of $18.83 billion, a PE ratio of 8.23 and a beta of 1.32. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. The business has a 50 day moving average of $120.11 and a 200-day moving average of $129.01. Steel Dynamics, Inc. has a 52 week low of $98.25 and a 52 week high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $4.81 EPS. Equities research analysts predict that Steel Dynamics, Inc. will post 10.57 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date is Monday, September 30th. Steel Dynamics’s payout ratio is 12.64%.

Steel Dynamics Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.