Barclays PLC Has $62.81 Million Stake in Steel Dynamics, Inc. $STLD

Barclays PLC reduced its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 450,498 shares of the basic materials company’s stock after selling 12,261 shares during the quarter. Barclays PLC owned approximately 0.31% of Steel Dynamics worth $62,813,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in STLD. NewEdge Advisors LLC grew its stake in Steel Dynamics by 307.5% in the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $102,000 after buying an additional 618 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Steel Dynamics by 82.7% during the first quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after acquiring an additional 1,578 shares during the period. Resona Asset Management Co. Ltd. grew its position in shares of Steel Dynamics by 6.2% in the second quarter. Resona Asset Management Co. Ltd. now owns 48,964 shares of the basic materials company’s stock valued at $6,293,000 after purchasing an additional 2,860 shares during the last quarter. Savant Capital LLC grew its position in shares of Steel Dynamics by 18.3% in the second quarter. Savant Capital LLC now owns 5,410 shares of the basic materials company’s stock valued at $693,000 after purchasing an additional 835 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new position in shares of Steel Dynamics during the second quarter worth approximately $1,070,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STLD has been the subject of several research reports. KeyCorp reissued an “overweight” rating and set a $190.00 price target on shares of Steel Dynamics in a report on Wednesday, January 7th. Morgan Stanley reiterated an “equal weight” rating and set a $194.00 price objective (up from $173.00) on shares of Steel Dynamics in a research report on Friday, January 9th. Wall Street Zen downgraded Steel Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company boosted their target price on shares of Steel Dynamics from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Five investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Steel Dynamics presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.22.

Steel Dynamics Trading Down 4.4%

Shares of NASDAQ:STLD opened at $181.61 on Monday. The business’s 50 day simple moving average is $184.10 and its 200 day simple moving average is $162.58. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $208.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29. The company has a market capitalization of $26.31 billion, a P/E ratio of 22.67, a P/E/G ratio of 0.49 and a beta of 1.43.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.10. The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.62 billion. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.36 EPS. On average, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be given a dividend of $0.53 per share. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Steel Dynamics’s dividend payout ratio (DPR) is currently 24.97%.

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.