Boston Common Asset Management LLC Increases Stock Position in Steel Dynamics, Inc. $STLD

Boston Common Asset Management LLC increased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,672 shares of the basic materials company’s stock after purchasing an additional 3,194 shares during the period. Boston Common Asset Management LLC’s holdings in Steel Dynamics were worth $12,145,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of STLD. Norges Bank bought a new position in Steel Dynamics in the second quarter worth approximately $339,769,000. Boston Partners bought a new stake in Steel Dynamics during the 3rd quarter valued at $101,254,000. Qube Research & Technologies Ltd purchased a new position in shares of Steel Dynamics in the 2nd quarter valued at $48,746,000. Caisse de depot et placement du Quebec increased its holdings in shares of Steel Dynamics by 134.9% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 493,290 shares of the basic materials company’s stock valued at $68,779,000 after acquiring an additional 283,300 shares during the period. Finally, AQR Capital Management LLC raised its position in shares of Steel Dynamics by 79.1% in the 2nd quarter. AQR Capital Management LLC now owns 627,542 shares of the basic materials company’s stock worth $80,332,000 after acquiring an additional 277,166 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Wells Fargo & Company reduced their target price on shares of Steel Dynamics from $210.00 to $196.00 and set an “overweight” rating for the company in a report on Wednesday, March 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. JPMorgan Chase & Co. lowered their price target on shares of Steel Dynamics from $194.00 to $192.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Finally, Wall Street Zen downgraded shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 7th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $182.44.

Steel Dynamics Stock Up 0.5%

Steel Dynamics stock opened at $171.78 on Tuesday. 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 stock has a market capitalization of $24.89 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 0.47 and a beta of 1.43. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $208.47. The business has a fifty day moving average price of $184.58 and a 200-day moving average price of $167.26.

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

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.53 per share. The ex-dividend date 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 payout ratio is presently 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.