American Century Companies Inc. Cuts Holdings in Steel Dynamics, Inc. $STLD

American Century Companies Inc. lessened its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 41.1% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 118,323 shares of the basic materials company’s stock after selling 82,627 shares during the quarter. American Century Companies Inc. owned 0.08% of Steel Dynamics worth $16,498,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in STLD. Cornerstone Planning Group LLC raised its holdings in Steel Dynamics by 1,636.4% in the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 180 shares in the last quarter. Toth Financial Advisory Corp increased its position in shares of Steel Dynamics by 50.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 100 shares during the last quarter. Covestor Ltd raised its holdings in shares of Steel Dynamics by 44.3% in the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. CNB Bank acquired a new stake in shares of Steel Dynamics in the 3rd quarter valued at $43,000. Finally, Root Financial Partners LLC purchased a new stake in shares of Steel Dynamics during the 3rd quarter worth $48,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Trading Down 0.1%

STLD opened at $182.19 on Wednesday. The firm has a market cap of $26.40 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 0.49 and a beta of 1.43. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $208.47. The business’s 50 day moving average is $184.51 and its two-hundred day moving average is $163.33. 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 (NASDAQ:STLD) last posted 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 business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.62 billion. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The company’s revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.36 earnings per share. On average, research analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be issued a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.2%. Steel Dynamics’s dividend payout ratio is currently 24.97%.

Analysts Set New Price Targets

A number of brokerages recently commented on STLD. Morgan Stanley reiterated an “equal weight” rating and set a $194.00 target price (up from $173.00) on shares of Steel Dynamics in a research note on Friday, January 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 29th. Wall Street Zen cut Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Saturday. KeyCorp reiterated an “overweight” rating and issued a $190.00 price objective on shares of Steel Dynamics in a report on Wednesday, January 7th. Finally, Wells Fargo & Company raised their target price on Steel Dynamics from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $184.22.

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.