Cornerstone Capital Management Holdings LLC. trimmed its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 8.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 373,127 shares of the basic materials company’s stock after selling 33,432 shares during the period. Cornerstone Capital Management Holdings LLC. owned 0.16% of Steel Dynamics worth $12,861,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Toronto Dominion Bank acquired a new stake in Steel Dynamics during the second quarter worth about $107,000. Hefty Wealth Partners increased its position in shares of Steel Dynamics by 76.1% during the third quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock valued at $118,000 after acquiring an additional 1,477 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of Steel Dynamics by 2.3% in the second quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock valued at $158,000 after purchasing an additional 101 shares during the period. IHT Wealth Management LLC boosted its stake in shares of Steel Dynamics by 0.7% in the second quarter. IHT Wealth Management LLC now owns 407 shares of the basic materials company’s stock valued at $198,000 after purchasing an additional 3 shares during the period. Finally, Greenwood Capital Associates LLC purchased a new position in shares of Steel Dynamics in the third quarter valued at approximately $205,000. Institutional investors and hedge funds own 83.45% of the company’s stock.

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) opened at $40.70 on Tuesday. Steel Dynamics, Inc. has a 1 year low of $32.15 and a 1 year high of $41.10. 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 company has a market cap of $9,640.00, a PE ratio of 16.02, a P/E/G ratio of 1.27 and a beta of 1.39.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data 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 analyst estimates of $2.41 billion. During the same period in the previous year, the firm earned $0.64 EPS. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. analysts anticipate that Steel Dynamics, Inc. will post 2.67 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Sunday, December 31st will be issued a $0.155 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.62 dividend on an annualized basis and a yield of 1.52%. Steel Dynamics’s dividend payout ratio (DPR) is 28.57%.

STLD has been the subject of several recent research reports. Longbow Research lowered shares of Steel Dynamics from a “buy” rating to a “neutral” rating in a research note on Monday, October 2nd. Bank of America reiterated a “buy” rating and issued a $44.00 price target (up previously from $42.00) on shares of Steel Dynamics in a research note on Tuesday, September 5th. Cowen set a $43.00 price target on shares of Steel Dynamics and gave the stock a “buy” rating in a research note on Friday, October 20th. Citigroup lifted their price target on shares of Steel Dynamics from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. Finally, ValuEngine downgraded shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 29th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $41.70.

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

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