Mn Services Vermogensbeheer B.V. Grows Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Mn Services Vermogensbeheer B.V. boosted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 0.3% in the 4th quarter, Holdings Channel reports. The fund owned 77,900 shares of the basic materials company’s stock after purchasing an additional 200 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Steel Dynamics were worth $9,200,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB grew its stake in Steel Dynamics by 1.1% in the 4th quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock worth $118,787,000 after acquiring an additional 11,026 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $14,762,000. Barclays PLC lifted its holdings in shares of Steel Dynamics by 3.1% during the 3rd quarter. Barclays PLC now owns 363,518 shares of the basic materials company’s stock valued at $38,975,000 after acquiring an additional 10,942 shares in the last quarter. AustralianSuper Pty Ltd lifted its holdings in shares of Steel Dynamics by 13.1% during the 4th quarter. AustralianSuper Pty Ltd now owns 514,888 shares of the basic materials company’s stock valued at $60,808,000 after acquiring an additional 59,668 shares in the last quarter. Finally, Summit Global Investments purchased a new stake in Steel Dynamics during the 3rd quarter worth $9,372,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Price Performance

STLD opened at $140.97 on Tuesday. The company has a 50-day moving average of $135.07 and a 200-day moving average of $120.70. The company has a market capitalization of $22.27 billion, a P/E ratio of 9.66 and a beta of 1.42. Steel Dynamics, Inc. has a 1-year low of $90.55 and a 1-year high of $151.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share 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 during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the previous year, the firm posted $4.37 EPS. Steel Dynamics’s revenue for the quarter was down 12.3% on a year-over-year basis. Equities analysts expect that Steel Dynamics, Inc. will post 11.6 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date was Wednesday, March 27th. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio is currently 12.61%.

Analyst Ratings Changes

Several research firms recently issued reports on STLD. UBS Group dropped their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Citigroup lifted their price target 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, BMO Capital Markets lifted their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $117.43.

Steel Dynamics Company Profile

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.