Point72 Asset Management L.P. Acquires 76,557 Shares of Steel Dynamics, Inc. (STLD)

Point72 Asset Management L.P. increased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 63.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 197,698 shares of the basic materials company’s stock after acquiring an additional 76,557 shares during the quarter. Point72 Asset Management L.P. owned about 0.08% of Steel Dynamics worth $6,815,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the stock. Caxton Associates LP acquired a new stake in Steel Dynamics during the third quarter worth about $7,266,000. Vident Investment Advisory LLC grew its stake in Steel Dynamics by 3.5% during the third quarter. Vident Investment Advisory LLC now owns 75,806 shares of the basic materials company’s stock worth $2,614,000 after buying an additional 2,570 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Steel Dynamics during the third quarter worth about $944,000. Asset Management One Co. Ltd. grew its stake in Steel Dynamics by 9.3% during the third quarter. Asset Management One Co. Ltd. now owns 469,605 shares of the basic materials company’s stock worth $16,197,000 after buying an additional 39,951 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Steel Dynamics by 138.9% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 254,829 shares of the basic materials company’s stock worth $8,784,000 after buying an additional 148,183 shares in the last quarter. 83.45% of the stock is currently owned by institutional investors and hedge funds.

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) opened at $39.85 on Monday. Steel Dynamics, Inc. has a one year low of $32.15 and a one year high of $41.66. The company has a quick ratio of 1.95, a current ratio of 3.35 and a debt-to-equity ratio of 0.80. The firm has a market cap of $9,440.00, a P/E ratio of 15.69, a PEG ratio of 1.25 and a beta of 1.39.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, hitting the consensus estimate of $0.66. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The business had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.41 billion. During the same period last year, the company earned $0.64 EPS. The firm’s revenue was up 16.3% compared to the same quarter last year. sell-side analysts anticipate that Steel Dynamics, Inc. will post 2.67 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Sunday, December 31st will be given a dividend of $0.155 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.62 annualized dividend and a yield of 1.56%. Steel Dynamics’s dividend payout ratio is presently 28.57%.

A number of brokerages have issued reports on STLD. BidaskClub upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Tuesday, December 12th. ValuEngine downgraded shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 29th. KeyCorp restated a “buy” rating and issued a $44.00 price target on shares of Steel Dynamics in a research note on Friday, November 24th. Morgan Stanley set a $36.00 price target on shares of Steel Dynamics and gave the company a “hold” rating in a research note on Tuesday, October 24th. Finally, Bank of America raised their price target on shares of Steel Dynamics from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Seven research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Steel Dynamics has a consensus rating of “Buy” and a consensus price target of $41.70.

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About Steel Dynamics

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.

Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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