Robeco Institutional Asset Management B.V. Raises Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Robeco Institutional Asset Management B.V. boosted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 83.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 160,373 shares of the basic materials company’s stock after purchasing an additional 73,122 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Steel Dynamics were worth $11,378,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp grew its stake in Steel Dynamics by 9.5% in the 1st quarter. State Street Corp now owns 9,207,455 shares of the basic materials company’s stock worth $771,198,000 after buying an additional 800,656 shares in the last quarter. Royal London Asset Management Ltd. grew its stake in Steel Dynamics by 3.0% in the 3rd quarter. Royal London Asset Management Ltd. now owns 2,604,971 shares of the basic materials company’s stock worth $184,810,000 after buying an additional 74,722 shares in the last quarter. AQR Capital Management LLC grew its stake in Steel Dynamics by 31.2% in the 2nd quarter. AQR Capital Management LLC now owns 2,128,088 shares of the basic materials company’s stock worth $137,751,000 after buying an additional 506,418 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Steel Dynamics by 4.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,124,519 shares of the basic materials company’s stock worth $150,734,000 after buying an additional 86,719 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Steel Dynamics by 11.7% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 1,999,689 shares of the basic materials company’s stock worth $141,879,000 after buying an additional 208,704 shares in the last quarter. Hedge funds and other institutional investors own 79.54% of the company’s stock.

Steel Dynamics Trading Down 2.2 %

NASDAQ:STLD opened at $103.91 on Friday. The company has a fifty day moving average of $119.04 and a 200 day moving average of $101.07. Steel Dynamics, Inc. has a 52 week low of $62.44 and a 52 week high of $136.46. The company has a quick ratio of 2.22, a current ratio of 3.76 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $17.83 billion, a P/E ratio of 5.00 and a beta of 1.51.

Steel Dynamics (NASDAQ:STLD – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The basic materials company reported $4.37 EPS for the quarter, beating analysts’ consensus estimates of $3.60 by $0.77. Steel Dynamics had a net margin of 17.35% and a return on equity of 56.22%. The company had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same period in the prior year, the business posted $5.78 EPS. The firm’s revenue was down 9.1% compared to the same quarter last year. On average, research analysts predict that Steel Dynamics, Inc. will post 13.68 earnings per share for the current year.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be issued a $0.425 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.34. This represents a $1.70 annualized dividend and a yield of 1.64%. Steel Dynamics’s dividend payout ratio is 6.54%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on STLD shares. StockNews.com started coverage on shares of Steel Dynamics in a report on Thursday. They issued a “hold” rating for the company. Credit Suisse Group boosted their price objective on shares of Steel Dynamics from $92.00 to $106.00 and gave the stock an “outperform” rating in a report on Thursday. BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $109.00 to $120.00 and gave the stock a “market perform” rating in a report on Friday, January 27th. Citigroup lowered shares of Steel Dynamics from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, Morgan Stanley boosted their price objective on shares of Steel Dynamics from $85.00 to $93.00 and gave the stock an “equal weight” rating in a report on Monday, January 30th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Steel Dynamics currently has an average rating of “Hold” and a consensus target price of $107.43.

About Steel Dynamics

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Steel Dynamics, Inc engages in the manufacture of steel products and metal recycling. It operates through the following segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment consists of sheet products including hot roll, cold roll, and coated steel, long products including structural steel beams, pilings, and standard and premium grade rail, and steel finishing services such as turning, polishing, straightening, chamfering, threading, and precision saw-cutting.