BB&T Securities LLC Boosts Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)
BB&T Securities LLC boosted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 60.9% in the third quarter, HoldingsChannel reports. The fund owned 43,310 shares of the basic materials company’s stock after purchasing an additional 16,392 shares during the quarter. BB&T Securities LLC’s holdings in Steel Dynamics were worth $1,288,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of STLD. Rehmann Capital Advisory Group lifted its position in Steel Dynamics by 96.9% during the second quarter. Rehmann Capital Advisory Group now owns 1,016 shares of the basic materials company’s stock valued at $31,000 after acquiring an additional 500 shares during the last quarter. Signaturefd LLC lifted its position in Steel Dynamics by 752.6% during the second quarter. Signaturefd LLC now owns 1,151 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 1,016 shares during the last quarter. Quest Capital Management Inc. ADV purchased a new stake in Steel Dynamics during the third quarter valued at approximately $38,000. Stonebridge Capital Advisors LLC purchased a new stake in Steel Dynamics during the second quarter valued at approximately $39,000. Finally, AdvisorNet Financial Inc purchased a new stake in Steel Dynamics during the second quarter valued at approximately $43,000. 79.96% of the stock is owned by institutional investors.
STLD has been the topic of a number of recent analyst reports. BMO Capital Markets lowered shares of Steel Dynamics to a “hold” rating and set a $30.00 price target on the stock. in a research note on Friday, September 13th. Longbow Research lowered shares of Steel Dynamics from a “buy” rating to a “neutral” rating in a research note on Monday, August 26th. Zacks Investment Research upgraded shares of Steel Dynamics from a “strong sell” rating to a “hold” rating and set a $25.00 price target on the stock in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. set a $35.00 price target on shares of Steel Dynamics and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Macquarie set a $31.00 price target on shares of Steel Dynamics and gave the company a “hold” rating in a research note on Wednesday, September 18th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $32.64.
Shares of Steel Dynamics stock opened at $31.62 on Friday. The company has a current ratio of 4.00, a quick ratio of 2.24 and a debt-to-equity ratio of 0.60. Steel Dynamics, Inc. has a 12-month low of $25.02 and a 12-month high of $41.02. The firm has a market capitalization of $6.77 billion, a price-to-earnings ratio of 5.76, a PEG ratio of 0.86 and a beta of 1.66. The firm’s 50 day simple moving average is $29.89 and its two-hundred day simple moving average is $29.48.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.01). The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.62 billion. Steel Dynamics had a net margin of 7.44% and a return on equity of 22.08%. During the same quarter in the previous year, the company posted $1.69 EPS. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 3.03 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.24 dividend. The ex-dividend date was Friday, September 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.04%. Steel Dynamics’s payout ratio is currently 17.49%.
Steel Dynamics Company Profile
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.
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