Ellington Management Group LLC acquired a new position in Steel Dynamics, Inc. (NASDAQ:STLD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 23,300 shares of the basic materials company’s stock, valued at approximately $1,005,000.
Several other large investors have also modified their holdings of STLD. Stone Ridge Asset Management LLC purchased a new stake in Steel Dynamics in the 4th quarter worth approximately $863,000. Brandywine Global Investment Management LLC increased its holdings in Steel Dynamics by 8.6% in the 4th quarter. Brandywine Global Investment Management LLC now owns 267,784 shares of the basic materials company’s stock worth $11,550,000 after acquiring an additional 21,098 shares in the last quarter. Dorsey Wright & Associates increased its holdings in Steel Dynamics by 13.9% in the 4th quarter. Dorsey Wright & Associates now owns 132,499 shares of the basic materials company’s stock worth $5,715,000 after acquiring an additional 16,127 shares in the last quarter. Quantitative Investment Management LLC purchased a new stake in Steel Dynamics in the 4th quarter worth approximately $10,609,000. Finally, CoreCommodity Management LLC purchased a new stake in Steel Dynamics in the 4th quarter worth approximately $146,000. Hedge funds and other institutional investors own 85.46% of the company’s stock.
Shares of Steel Dynamics, Inc. (STLD) opened at $46.34 on Monday. The company has a current ratio of 4.04, a quick ratio of 2.29 and a debt-to-equity ratio of 0.74. Steel Dynamics, Inc. has a fifty-two week low of $32.15 and a fifty-two week high of $50.70. The stock has a market cap of $10,939.55, a P/E ratio of 17.49, a price-to-earnings-growth ratio of 0.96 and a beta of 1.27.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Saturday, March 31st will be issued a dividend of $0.1875 per share. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.16. This represents a $0.75 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date is Wednesday, March 28th. Steel Dynamics’s dividend payout ratio (DPR) is 18.40%.
STLD has been the subject of several analyst reports. KeyCorp set a $49.00 target price on shares of Steel Dynamics and gave the stock a “buy” rating in a report on Wednesday, January 10th. Bank of America set a $51.00 target price on shares of Steel Dynamics and gave the stock a “buy” rating in a report on Monday, January 8th. Longbow Research raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating in a report on Wednesday, December 20th. Cowen set a $43.00 target price on shares of Steel Dynamics and gave the stock a “buy” rating in a report on Monday, December 18th. Finally, BidaskClub raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Tuesday, December 12th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $46.64.
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Steel Dynamics Profile
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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