Northern Trust Corp Raises Stake in Steel Dynamics, Inc. (STLD)

Northern Trust Corp Raises Stake in Steel Dynamics, Inc. (STLD)

Northern Trust Corp raised its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.6% during the third quarter, Holdings Channel reports. The fund owned 1,916,959 shares of the company’s stock after buying an additional 31,043 shares during the period. Northern Trust Corp owned about 0.79% of Steel Dynamics worth $47,905,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of STLD. Virginia Retirement Systems ET AL boosted its stake in shares of Steel Dynamics by 7.9% in the third quarter. Virginia Retirement Systems ET AL now owns 79,000 shares of the company’s stock worth $1,974,000 after buying an additional 5,800 shares during the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Steel Dynamics by 31.2% in the third quarter. UBS Asset Management Americas Inc. now owns 368,750 shares of the company’s stock worth $9,215,000 after buying an additional 87,769 shares during the last quarter. Airain ltd boosted its stake in shares of Steel Dynamics by 234.7% in the third quarter. Airain ltd now owns 210,629 shares of the company’s stock worth $5,264,000 after buying an additional 147,691 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of Steel Dynamics by 6.1% in the third quarter. Prudential Financial Inc. now owns 3,678,311 shares of the company’s stock worth $91,921,000 after buying an additional 212,570 shares during the last quarter. Finally, Redwood Investments LLC acquired a new stake in shares of Steel Dynamics during the second quarter worth $18,739,000. Hedge funds and other institutional investors own 80.00% of the company’s stock.

Steel Dynamics, Inc. (NASDAQ:STLD) traded up 1.82% during mid-day trading on Friday, reaching $36.32. 4,664,319 shares of the company’s stock traded hands. The firm has a market cap of $8.85 billion, a PE ratio of 23.28 and a beta of 1.46. The firm has a 50 day moving average of $36.69 and a 200 day moving average of $29.49. Steel Dynamics, Inc. has a 1-year low of $16.68 and a 1-year high of $40.17.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, January 24th. The company reported $0.43 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.43. The business had revenue of $1.91 billion for the quarter, compared to analyst estimates of $1.88 billion. Steel Dynamics had a net margin of 4.91% and a return on equity of 17.30%. The firm’s revenue for the quarter was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.09 earnings per share. Analysts forecast that Steel Dynamics, Inc. will post $2.55 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Saturday, December 31st were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Wednesday, December 28th. Steel Dynamics’s dividend payout ratio is presently 35.90%.

A number of equities analysts recently commented on the stock. Zacks Investment Research lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Tuesday, October 25th. Credit Suisse Group set a $33.00 price objective on shares of Steel Dynamics and gave the stock a “buy” rating in a research note on Saturday, October 8th. Berenberg Bank lowered shares of Steel Dynamics from a “buy” rating to a “hold” rating and raised their price objective for the stock from $35.00 to $36.50 in a research note on Monday, November 14th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $45.00 price objective (up previously from $32.00) on shares of Steel Dynamics in a research note on Tuesday, December 13th. Finally, Vetr raised shares of Steel Dynamics from a “sell” rating to a “hold” rating and set a $34.51 price objective for the company in a research note on Monday, January 2nd. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Steel Dynamics presently has an average rating of “Buy” and an average price target of $33.26.

In other news, Director Keith E. Busse sold 2,000 shares of the business’s stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $27.33, for a total value of $54,660.00. Following the sale, the director now owns 1,004,923 shares of the company’s stock, valued at $27,464,545.59. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.10% of the company’s stock.

Steel Dynamics Company Profile

Want to see what other hedge funds are holding STLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steel Dynamics, Inc. (NASDAQ:STLD).

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