Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale boosted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 27.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 143,926 shares of the basic materials company’s stock after purchasing an additional 31,036 shares during the quarter. DekaBank Deutsche Girozentrale owned about 0.09% of Steel Dynamics worth $16,933,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STLD. BlackRock Inc. grew its position in shares of Steel Dynamics by 3.0% in the first quarter. BlackRock Inc. now owns 17,595,650 shares of the basic materials company’s stock valued at $1,989,364,000 after purchasing an additional 510,981 shares in the last quarter. State Street Corp increased its stake in shares of 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 acquiring an additional 800,656 shares during the last quarter. Royal London Asset Management Ltd. raised its holdings in shares of Steel Dynamics by 0.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 3,745,326 shares of the basic materials company’s stock worth $401,574,000 after acquiring an additional 12,208 shares during the period. Morgan Stanley grew its stake in shares of Steel Dynamics by 29.2% in the 4th quarter. Morgan Stanley now owns 3,034,652 shares of the basic materials company’s stock valued at $296,486,000 after buying an additional 684,975 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Steel Dynamics by 15.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,308,698 shares of the basic materials company’s stock valued at $225,560,000 after acquiring an additional 309,009 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $147.85 on Tuesday. Steel Dynamics, Inc. has a 52 week low of $90.55 and a 52 week high of $151.34. The firm has a 50 day moving average of $132.82 and a two-hundred day moving average of $119.31. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $23.35 billion, a PE ratio of 10.13 and a beta of 1.42.

Steel Dynamics (NASDAQ:STLD) last released its earnings results 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). Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the previous year, the firm earned $4.37 earnings per share. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. On average, research analysts predict that Steel Dynamics, Inc. will post 11.37 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 14th. Investors of record on Sunday, March 31st will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.24%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, March 27th. Steel Dynamics’s dividend payout ratio is presently 12.61%.

Analyst Ratings Changes

A number of research firms have commented on STLD. BMO Capital Markets lifted their target price on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Monday, March 18th. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $95.00 to $98.00 and gave the company an “underweight” rating in a report on Tuesday, December 12th. Citigroup increased their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Finally, UBS Group decreased their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $117.43.

About Steel Dynamics

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.