Canada Post Corp Registered Pension Plan Acquires 4,587 Shares of Steel Dynamics, Inc. $STLD

Canada Post Corp Registered Pension Plan grew its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 202.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,857 shares of the basic materials company’s stock after purchasing an additional 4,587 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in Steel Dynamics were worth $952,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Lingohr Asset Management GmbH lifted its holdings in shares of Steel Dynamics by 1,284.8% during the third quarter. Lingohr Asset Management GmbH now owns 40,423 shares of the basic materials company’s stock worth $5,636,000 after purchasing an additional 37,504 shares during the period. Ninety One UK Ltd raised its position in Steel Dynamics by 33.5% during the 3rd quarter. Ninety One UK Ltd now owns 119,863 shares of the basic materials company’s stock worth $16,712,000 after purchasing an additional 30,102 shares during the last quarter. Rakuten Investment Management Inc. acquired a new position in Steel Dynamics during the 3rd quarter worth about $8,592,000. Forvis Mazars Wealth Advisors LLC bought a new stake in shares of Steel Dynamics in the 3rd quarter valued at about $1,047,000. Finally, Mediolanum International Funds Ltd grew its position in shares of Steel Dynamics by 157.2% in the 3rd quarter. Mediolanum International Funds Ltd now owns 206,140 shares of the basic materials company’s stock valued at $28,629,000 after buying an additional 125,981 shares during the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $202.39 on Monday. The firm has a 50 day moving average of $174.83 and a 200-day moving average of $152.91. The company has a market cap of $29.56 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 0.55 and a beta of 1.46. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $202.86.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.10. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.62 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. The business’s revenue was up 14.0% on a year-over-year basis. On average, equities analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

STLD has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. JPMorgan Chase & Co. raised their price target on shares of Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. The Goldman Sachs Group set a $172.00 price objective on shares of Steel Dynamics and gave the company a “neutral” rating in a research note on Friday, October 31st. Jefferies Financial Group increased their price objective on shares of Steel Dynamics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Finally, UBS Group set a $165.00 target price on shares of Steel Dynamics in a research note on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Steel Dynamics currently has a consensus rating of “Hold” and an average price target of $182.00.

About Steel Dynamics

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.