Steel Dynamics, Inc. $STLD Shares Acquired by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC boosted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 156.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,935 shares of the basic materials company’s stock after buying an additional 9,717 shares during the period. Knights of Columbus Asset Advisors LLC’s holdings in Steel Dynamics were worth $2,222,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of STLD. State Street Corp grew its stake in shares of Steel Dynamics by 3.3% in the second quarter. State Street Corp now owns 7,300,813 shares of the basic materials company’s stock valued at $938,196,000 after buying an additional 230,582 shares in the last quarter. Norges Bank purchased a new stake in Steel Dynamics during the 2nd quarter worth $339,769,000. Nordea Investment Management AB lifted its holdings in Steel Dynamics by 12.1% in the 3rd quarter. Nordea Investment Management AB now owns 2,340,480 shares of the basic materials company’s stock worth $322,518,000 after buying an additional 252,108 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Steel Dynamics by 15.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,936,077 shares of the basic materials company’s stock valued at $269,947,000 after buying an additional 260,104 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Steel Dynamics by 0.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,410,983 shares of the basic materials company’s stock valued at $180,620,000 after acquiring an additional 5,317 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on STLD. BMO Capital Markets upped their target price on Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. UBS Group set a $165.00 target price on Steel Dynamics in a report on Tuesday, November 4th. Morgan Stanley reiterated an “equal weight” rating and issued a $194.00 price target (up from $173.00) on shares of Steel Dynamics in a report on Friday, January 9th. Finally, Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “strong-buy” rating in a report on Saturday. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $182.00.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $179.57 on Friday. The firm’s 50-day simple moving average is $171.89 and its 200 day simple moving average is $150.39. The stock has a market cap of $26.22 billion, a P/E ratio of 22.42, a P/E/G ratio of 0.76 and a beta of 1.48. The company has a quick ratio of 1.47, a current ratio of 3.06 and a debt-to-equity ratio of 0.48. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $185.56.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Monday, January 26th. 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 analysts’ expectations of $4.62 billion. During the same period last year, the firm earned $1.36 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. Equities analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 31st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Wednesday, December 31st. 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.