Swiss National Bank Reduces Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Swiss National Bank lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 492,000 shares of the basic materials company’s stock after selling 24,500 shares during the quarter. Swiss National Bank owned 0.30% of Steel Dynamics worth $58,105,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Signaturefd LLC raised its holdings in Steel Dynamics by 0.9% in the fourth quarter. Signaturefd LLC now owns 10,698 shares of the basic materials company’s stock valued at $1,263,000 after acquiring an additional 93 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of Steel Dynamics by 25.8% during the fourth quarter. Global Retirement Partners LLC now owns 478 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 98 shares during the last quarter. Allworth Financial LP grew its stake in Steel Dynamics by 2.2% in the fourth quarter. Allworth Financial LP now owns 4,853 shares of the basic materials company’s stock worth $573,000 after purchasing an additional 103 shares in the last quarter. Greenfield Savings Bank increased its holdings in Steel Dynamics by 0.9% in the fourth quarter. Greenfield Savings Bank now owns 11,591 shares of the basic materials company’s stock valued at $1,369,000 after buying an additional 108 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC raised its stake in Steel Dynamics by 0.3% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 44,547 shares of the basic materials company’s stock valued at $4,776,000 after buying an additional 113 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Stock Up 3.6 %

NASDAQ STLD opened at $135.47 on Monday. Steel Dynamics, Inc. has a 12 month low of $90.55 and a 12 month high of $151.34. The company has a market capitalization of $21.40 billion, a P/E ratio of 9.30 and a beta of 1.47. The company’s 50 day simple moving average is $138.22 and its 200 day simple moving average is $123.40. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.54 by $0.13. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.01 EPS. Equities research analysts expect that Steel Dynamics, Inc. will post 12.76 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were paid a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.84 dividend on an annualized basis and a yield of 1.36%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio (DPR) is currently 12.64%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. BMO Capital Markets raised their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. Citigroup boosted their price objective 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 lowered their target price 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 given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $121.17.

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.