Brandywine Global Investment Management LLC increased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 8.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 267,784 shares of the basic materials company’s stock after acquiring an additional 21,098 shares during the period. Brandywine Global Investment Management LLC owned about 0.11% of Steel Dynamics worth $11,550,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC purchased a new position in Steel Dynamics in the 3rd quarter worth approximately $112,000. Cubist Systematic Strategies LLC raised its stake in Steel Dynamics by 80.8% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock valued at $123,000 after buying an additional 1,589 shares during the last quarter. Cerebellum GP LLC purchased a new stake in Steel Dynamics during the 4th quarter valued at $132,000. Amica Retiree Medical Trust purchased a new stake in Steel Dynamics during the 4th quarter valued at $143,000. Finally, CoreCommodity Management LLC purchased a new stake in Steel Dynamics during the 4th quarter valued at $146,000. Institutional investors own 85.46% of the company’s stock.
A number of equities research analysts have weighed in on the stock. BidaskClub lowered shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 8th. Cowen set a $60.00 target price on shares of Steel Dynamics and gave the company a “buy” rating in a research note on Monday, February 5th. ValuEngine upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Credit Suisse Group boosted their target price on shares of Steel Dynamics from $43.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Finally, BMO Capital Markets boosted their target price on shares of Steel Dynamics to $55.00 and gave the company an “outperform” rating in a research note on Wednesday, January 24th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $46.64.
Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Monday, January 22nd. The basic materials company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.05. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.17 billion. Steel Dynamics had a net margin of 8.52% and a return on equity of 21.48%. sell-side analysts forecast that Steel Dynamics, Inc. will post 4 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Saturday, March 31st will be issued a $0.1875 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.75 annualized dividend and a yield of 1.60%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.16. Steel Dynamics’s dividend payout ratio is currently 23.66%.
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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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