Steel Dynamics, Inc. $STLD Stock Holdings Lifted by Capital Research Global Investors

Capital Research Global Investors boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.2% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,613,095 shares of the basic materials company’s stock after buying an additional 8,483 shares during the period. Capital Research Global Investors’ holdings in Steel Dynamics were worth $503,774,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of Steel Dynamics by 3.3% during the 2nd quarter. State Street Corp now owns 7,300,813 shares of the basic materials company’s stock worth $938,196,000 after acquiring an additional 230,582 shares in the last quarter. Norges Bank acquired a new stake in Steel Dynamics during the second quarter worth about $339,769,000. Nordea Investment Management AB lifted its position in Steel Dynamics by 12.1% in the third quarter. Nordea Investment Management AB now owns 2,340,480 shares of the basic materials company’s stock worth $322,518,000 after purchasing an additional 252,108 shares during the period. Robeco Institutional Asset Management B.V. lifted its stake in Steel Dynamics by 15.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,936,077 shares of the basic materials company’s stock worth $269,947,000 after purchasing an additional 260,104 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Steel Dynamics by 0.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,410,983 shares of the basic materials company’s stock valued at $180,620,000 after buying an additional 5,317 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on STLD. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. Morgan Stanley restated an “equal weight” rating and issued a $194.00 target price (up from $173.00) on shares of Steel Dynamics in a research note on Friday, January 9th. Jefferies Financial Group lifted their price target on Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Finally, Wall Street Zen lowered shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $184.22.

Steel Dynamics Price Performance

Shares of STLD stock opened at $182.19 on Wednesday. The firm has a market cap of $26.40 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 0.49 and a beta of 1.43. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month 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. The stock has a 50-day moving average price of $184.51 and a 200 day moving average price of $163.33.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.10. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 EPS. Research analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be paid a $0.53 dividend. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.2%. Steel Dynamics’s dividend payout ratio (DPR) is currently 24.97%.

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.