Steel Dynamics, Inc. $STLD Shares Acquired by National Pension Service

National Pension Service boosted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 24.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,969 shares of the basic materials company’s stock after purchasing an additional 9,113 shares during the quarter. National Pension Service’s holdings in Steel Dynamics were worth $6,549,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Trust Co. of Toledo NA OH acquired a new position in shares of Steel Dynamics during the second quarter valued at $30,000. Rosenberg Matthew Hamilton increased its stake in shares of Steel Dynamics by 306.2% in the second quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 199 shares during the period. True Wealth Design LLC raised its holdings in shares of Steel Dynamics by 120.4% during the second quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock valued at $41,000 after buying an additional 177 shares during the last quarter. Toth Financial Advisory Corp boosted its position in shares of Steel Dynamics by 50.0% during the third quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock worth $42,000 after buying an additional 100 shares during the period. Finally, Covestor Ltd grew its holdings in Steel Dynamics by 44.3% in the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock worth $42,000 after buying an additional 93 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Stock Up 3.4%

STLD stock opened at $192.95 on Wednesday. The firm has a market cap of $28.18 billion, a PE ratio of 24.09, a P/E/G ratio of 0.50 and a beta of 1.46. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $195.18. 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 firm has a 50 day simple moving average of $172.97 and a 200 day simple moving average of $151.52.

Steel Dynamics (NASDAQ:STLD) last posted 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 quarter in the prior year, the company earned $1.36 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. Equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 31st were given a $0.50 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.0%. Steel Dynamics’s dividend payout ratio (DPR) is 24.97%.

Analyst Ratings Changes

Several analysts have weighed in on STLD shares. Jefferies Financial Group lifted their target price on Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. UBS Group set a $165.00 target price on shares of Steel Dynamics in a research report on Tuesday, November 4th. BMO Capital Markets boosted their price target on shares of Steel Dynamics from $155.00 to $167.00 and gave the stock 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 report on Monday, December 29th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $194.00 target price (up previously from $173.00) on shares of Steel Dynamics in a report on Friday, January 9th. Five research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $182.00.

Steel Dynamics Profile

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.