Steel Dynamics, Inc. $STLD Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 5.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 278,017 shares of the basic materials company’s stock after purchasing an additional 13,506 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Steel Dynamics were worth $38,764,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in STLD. Intech Investment Management LLC lifted its holdings in shares of Steel Dynamics by 107.8% in the third quarter. Intech Investment Management LLC now owns 79,084 shares of the basic materials company’s stock valued at $11,027,000 after purchasing an additional 41,034 shares in the last quarter. Colonial Trust Advisors raised its position in shares of Steel Dynamics by 90.3% during the 3rd quarter. Colonial Trust Advisors now owns 491 shares of the basic materials company’s stock worth $68,000 after purchasing an additional 233 shares during the last quarter. TD Asset Management Inc lifted its stake in Steel Dynamics by 40.9% in the 3rd quarter. TD Asset Management Inc now owns 70,092 shares of the basic materials company’s stock valued at $9,773,000 after buying an additional 20,352 shares in the last quarter. Mufg Securities Americas Inc. grew its holdings in Steel Dynamics by 22.0% during the 3rd quarter. Mufg Securities Americas Inc. now owns 3,732 shares of the basic materials company’s stock valued at $520,000 after buying an additional 672 shares during the last quarter. Finally, Compound Planning Inc. grew its holdings in Steel Dynamics by 6.6% during the 3rd quarter. Compound Planning Inc. now owns 2,374 shares of the basic materials company’s stock valued at $331,000 after buying an additional 148 shares during the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $193.13 on Friday. The company has a market cap of $28.20 billion, a P/E ratio of 24.11, a P/E/G ratio of 0.52 and a beta of 1.46. The firm’s 50 day moving average is $182.38 and its two-hundred day moving average is $160.04. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $208.47. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.10. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same period in the prior year, the firm posted $1.36 EPS. The business’s revenue for the quarter was up 14.0% on a year-over-year basis. Analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be issued a $0.53 dividend. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, March 31st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.1%. Steel Dynamics’s dividend payout ratio (DPR) is 24.97%.

Analyst Upgrades and Downgrades

STLD has been the topic of several recent research reports. Wall Street Zen upgraded Steel Dynamics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, January 31st. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $194.00 price target (up from $173.00) on shares of Steel Dynamics in a research note on Friday, January 9th. KeyCorp reissued an “overweight” rating and issued a $190.00 price objective on shares of Steel Dynamics in a research report on Wednesday, January 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.