Venturi Wealth Management LLC Sells 12,510 Shares of Steel Dynamics, Inc. (STLD)
Venturi Wealth Management LLC reduced its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 8.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 139,791 shares of the basic materials company’s stock after selling 12,510 shares during the quarter. Venturi Wealth Management LLC owned 0.06% of Steel Dynamics worth $4,866,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Chicago Equity Partners LLC increased its stake in Steel Dynamics by 189.3% during the 2nd quarter. Chicago Equity Partners LLC now owns 178,705 shares of the basic materials company’s stock valued at $6,399,000 after purchasing an additional 116,925 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in Steel Dynamics by 8.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 544,861 shares of the basic materials company’s stock valued at $18,781,000 after purchasing an additional 41,400 shares in the last quarter. Global X MANAGEMENT CO LLC increased its stake in Steel Dynamics by 21.3% during the 3rd quarter. Global X MANAGEMENT CO LLC now owns 15,728 shares of the basic materials company’s stock valued at $542,000 after purchasing an additional 2,758 shares in the last quarter. APG Asset Management N.V. bought a new stake in Steel Dynamics during the 3rd quarter valued at about $9,800,000. Finally, BW Gestao de Investimentos Ltda. increased its stake in Steel Dynamics by 5.0% during the 2nd quarter. BW Gestao de Investimentos Ltda. now owns 750,350 shares of the basic materials company’s stock valued at $26,870,000 after purchasing an additional 35,777 shares in the last quarter. Institutional investors and hedge funds own 83.45% of the company’s stock.
Shares of Steel Dynamics, Inc. (NASDAQ STLD) opened at $38.73 on Wednesday. Steel Dynamics, Inc. has a 12 month low of $32.15 and a 12 month high of $40.41. The company has a market cap of $9,428.31, a P/E ratio of 15.66, a PEG ratio of 1.24 and a beta of 1.40. The company has a quick ratio of 1.95, a current ratio of 3.35 and a debt-to-equity ratio of 0.80.
Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, hitting analysts’ consensus estimates of $0.66. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.41 billion. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 earnings per share. research analysts anticipate that Steel Dynamics, Inc. will post 2.67 EPS for the current fiscal 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 of this dividend is Thursday, December 28th. This represents a $0.62 annualized dividend and a yield of 1.60%. Steel Dynamics’s dividend payout ratio (DPR) is 28.57%.
A number of analysts have weighed in on STLD shares. Bank of America restated a “buy” rating and set a $44.00 price objective (up from $42.00) on shares of Steel Dynamics in a research note on Tuesday, September 5th. Jefferies Group restated a “buy” rating and set a $43.00 price objective on shares of Steel Dynamics in a research note on Thursday, August 31st. Macquarie started coverage on shares of Steel Dynamics in a research note on Wednesday, September 6th. They set a “neutral” rating and a $36.00 price objective for the company. Morgan Stanley set a $36.00 price objective on shares of Steel Dynamics and gave the company a “hold” rating in a research note on Tuesday, October 24th. Finally, KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 price target for the company in a research note on Friday, October 20th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $41.70.
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.
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