Lingohr Asset Management GmbH Buys 37,504 Shares of Steel Dynamics, Inc. $STLD

Lingohr Asset Management GmbH increased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 1,284.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 40,423 shares of the basic materials company’s stock after buying an additional 37,504 shares during the quarter. Lingohr Asset Management GmbH’s holdings in Steel Dynamics were worth $5,636,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ninety One UK Ltd raised its holdings in shares of Steel Dynamics by 33.5% in the third quarter. Ninety One UK Ltd now owns 119,863 shares of the basic materials company’s stock valued at $16,712,000 after acquiring an additional 30,102 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in Steel Dynamics during the 3rd quarter valued at $8,592,000. Forvis Mazars Wealth Advisors LLC purchased a new position in shares of Steel Dynamics in the 3rd quarter valued at $1,047,000. Allworth Financial LP raised its position in shares of Steel Dynamics by 119.3% in the 2nd quarter. Allworth Financial LP now owns 11,012 shares of the basic materials company’s stock worth $1,410,000 after acquiring an additional 5,991 shares in the last quarter. Finally, Generali Asset Management SPA SGR purchased a new stake in shares of Steel Dynamics during the 3rd quarter worth $1,315,000. Institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $194.00 price objective (up previously from $173.00) on shares of Steel Dynamics in a research report on Friday, January 9th. Wall Street Zen upgraded shares of Steel Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Saturday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 29th. The Goldman Sachs Group set a $172.00 target price on Steel Dynamics and gave the stock a “neutral” rating in a research note on Friday, October 31st. Finally, Wells Fargo & Company upped their target price on Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $182.00.

Steel Dynamics Stock Down 1.3%

STLD stock opened at $179.57 on Friday. The company has a current ratio of 3.06, a quick ratio of 1.47 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average of $171.89 and a two-hundred day moving average of $150.39. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $185.56. The company has a market cap of $26.22 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 0.76 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.10. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.62 billion. During the same period in the prior year, the business earned $1.36 earnings per share. The business’s revenue was up 14.0% compared to the same quarter last year. As a group, analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.1%. The ex-dividend date was Wednesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is presently 24.97%.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.