Ninety One UK Ltd Acquires 61,326 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Ninety One UK Ltd raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 76.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 141,435 shares of the basic materials company’s stock after buying an additional 61,326 shares during the period. Ninety One UK Ltd’s holdings in Steel Dynamics were worth $16,703,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of STLD. CVA Family Office LLC bought a new stake in shares of Steel Dynamics in the 4th quarter worth $28,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Steel Dynamics in the 4th quarter worth $29,000. Wellington Shields & Co. LLC grew its stake in shares of Steel Dynamics by 50.0% in the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Clearstead Advisors LLC bought a new stake in shares of Steel Dynamics in the 3rd quarter worth $35,000. Finally, Clear Street Markets LLC grew its stake in shares of Steel Dynamics by 94.0% in the 1st quarter. Clear Street Markets LLC now owns 326 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 158 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on STLD shares. UBS Group reduced their target price on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. BMO Capital Markets boosted their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, March 18th. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday. Finally, Citigroup boosted their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and a consensus price target of $120.29.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $136.07 on Friday. The company has a market capitalization of $21.49 billion, a P/E ratio of 9.33 and a beta of 1.42. Steel Dynamics, Inc. has a fifty-two week low of $90.55 and a fifty-two week high of $151.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91. The company’s 50-day moving average is $135.97 and its 200 day moving average is $121.15.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.63 by ($0.02). The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. Steel Dynamics’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period last year, the company earned $4.37 earnings per share. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 11.79 earnings per share for the current year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 1.35%. Steel Dynamics’s dividend payout ratio is 12.61%.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.