AIA Group Ltd Raises Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

AIA Group Ltd boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 13.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,879 shares of the basic materials company’s stock after purchasing an additional 343 shares during the period. AIA Group Ltd’s holdings in Steel Dynamics were worth $340,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC acquired a new stake in Steel Dynamics during the fourth quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Steel Dynamics during the fourth quarter valued at approximately $29,000. Wellington Shields & Co. LLC raised its stake in Steel Dynamics by 50.0% during the fourth quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock valued at $29,000 after buying an additional 100 shares in the last quarter. Clearstead Advisors LLC acquired a new stake in shares of Steel Dynamics during the 3rd quarter worth approximately $35,000. Finally, Clear Street Markets LLC raised its position in shares of Steel Dynamics by 94.0% during the 1st quarter. Clear Street Markets LLC now owns 326 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 158 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research report on Tuesday. BMO Capital Markets increased their price target on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, March 18th. Citigroup increased their price target on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Finally, UBS Group dropped their price target on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $120.29.

Steel Dynamics Stock Up 0.6 %

Shares of STLD stock opened at $136.90 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91. The stock has a market cap of $21.62 billion, a PE ratio of 9.38 and a beta of 1.42. The business’s fifty day moving average is $136.21 and its 200-day moving average is $121.37. Steel Dynamics, Inc. has a 1 year low of $90.55 and a 1 year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last issued 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). The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.22 billion. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The business’s quarterly revenue was down 12.3% on a year-over-year basis. During the same period last year, the business earned $4.37 EPS. Equities analysts expect that Steel Dynamics, Inc. will post 11.79 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Wednesday, March 27th. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio (DPR) is 12.61%.

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.