Zurcher Kantonalbank Zurich Cantonalbank Buys 25,787 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 79.7% during the 4th quarter, HoldingsChannel reports. The fund owned 58,158 shares of the basic materials company’s stock after acquiring an additional 25,787 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Steel Dynamics were worth $6,868,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Global Retirement Partners LLC lifted its position in Steel Dynamics by 25.8% during the 4th quarter. Global Retirement Partners LLC now owns 478 shares of the basic materials company’s stock worth $53,000 after buying an additional 98 shares in the last quarter. Wellington Shields & Co. LLC lifted its position in Steel Dynamics by 50.0% during the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock worth $29,000 after buying an additional 100 shares in the last quarter. Ronald Blue Trust Inc. lifted its position in Steel Dynamics by 7.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,425 shares of the basic materials company’s stock worth $155,000 after buying an additional 103 shares in the last quarter. Allworth Financial LP lifted its position in Steel Dynamics by 2.2% during the 4th quarter. Allworth Financial LP now owns 4,853 shares of the basic materials company’s stock worth $573,000 after buying an additional 103 shares in the last quarter. Finally, Greenfield Savings Bank lifted its position in Steel Dynamics by 0.9% during the 4th quarter. Greenfield Savings Bank now owns 11,591 shares of the basic materials company’s stock worth $1,369,000 after buying an additional 108 shares in the last quarter. 82.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

STLD has been the topic of several analyst reports. UBS Group cut 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 report on Wednesday, January 24th. JPMorgan Chase & Co. upped their target price 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 upped their target price on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Monday, March 18th. Finally, Citigroup upped their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $120.29.

Steel Dynamics Stock Up 0.6 %

Shares of STLD stock opened at $136.90 on Friday. Steel Dynamics, Inc. has a 52-week low of $90.55 and a 52-week high of $151.34. The stock has a market cap of $21.62 billion, a price-to-earnings ratio of 9.38 and a beta of 1.42. The firm’s 50-day moving average is $136.21 and its 200-day moving average is $121.47. 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 announced 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 business had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the business posted $4.37 earnings per share. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. Sell-side analysts predict that Steel Dynamics, Inc. will post 11.79 EPS for the current 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 issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 1.34%. Steel Dynamics’s dividend payout ratio (DPR) is currently 12.61%.

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.