BI Asset Management Fondsmaeglerselskab A S Acquires 7,031 Shares of Steel Dynamics, Inc. $STLD

BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 151,350 shares of the basic materials company’s stock after buying an additional 7,031 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Steel Dynamics were worth $21,103,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in STLD. Lingohr Asset Management GmbH raised its holdings in shares of Steel Dynamics by 1,284.8% in the third quarter. Lingohr Asset Management GmbH now owns 40,423 shares of the basic materials company’s stock worth $5,636,000 after buying an additional 37,504 shares during the period. Ninety One UK Ltd grew its position in Steel Dynamics by 33.5% in the 3rd quarter. Ninety One UK Ltd now owns 119,863 shares of the basic materials company’s stock valued at $16,712,000 after acquiring an additional 30,102 shares during the last quarter. Rakuten Investment Management Inc. purchased a new stake in Steel Dynamics in the third quarter worth $8,592,000. Forvis Mazars Wealth Advisors LLC bought a new stake in shares of Steel Dynamics during the third quarter worth $1,047,000. Finally, Mediolanum International Funds Ltd boosted its stake in shares of Steel Dynamics by 157.2% during the third quarter. Mediolanum International Funds Ltd now owns 206,140 shares of the basic materials company’s stock valued at $28,629,000 after purchasing an additional 125,981 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Up 3.1%

Steel Dynamics stock opened at $198.88 on Thursday. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48. The firm has a market cap of $29.04 billion, a P/E ratio of 24.83, a P/E/G ratio of 0.52 and a beta of 1.46. The business has a fifty day moving average of $173.61 and a two-hundred day moving average of $151.85. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $199.10.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.10. The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.62 billion. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The business’s revenue was up 14.0% compared to the same quarter last year. During the same period last year, the business posted $1.36 EPS. On average, analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Wednesday, December 31st. Steel Dynamics’s dividend payout ratio is presently 24.97%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Saturday, January 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. The Goldman Sachs Group set a $172.00 price objective on Steel Dynamics and gave the stock a “neutral” rating in a research note on Friday, October 31st. Jefferies Financial Group raised their price objective on Steel Dynamics from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Finally, JPMorgan Chase & Co. upped their target price on Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics presently has an average rating of “Hold” and an average target price of $182.00.

About Steel Dynamics

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.