Foster & Motley Inc. Grows Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Foster & Motley Inc. raised its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 7.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,490 shares of the basic materials company’s stock after buying an additional 1,793 shares during the period. Foster & Motley Inc.’s holdings in Steel Dynamics were worth $3,247,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in STLD. Nordea Investment Management AB lifted its position in shares of Steel Dynamics by 1.1% in the 4th quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock worth $118,787,000 after purchasing an additional 11,026 shares during the period. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Steel Dynamics during the 4th quarter worth approximately $14,762,000. Barclays PLC raised its stake in shares of Steel Dynamics by 3.1% during the 3rd quarter. Barclays PLC now owns 363,518 shares of the basic materials company’s stock worth $38,975,000 after acquiring an additional 10,942 shares in the last quarter. AustralianSuper Pty Ltd raised its stake in shares of Steel Dynamics by 13.1% during the 4th quarter. AustralianSuper Pty Ltd now owns 514,888 shares of the basic materials company’s stock worth $60,808,000 after acquiring an additional 59,668 shares in the last quarter. Finally, Morgan Stanley raised its stake in shares of Steel Dynamics by 0.8% during the 3rd quarter. Morgan Stanley now owns 2,612,430 shares of the basic materials company’s stock worth $280,105,000 after acquiring an additional 19,833 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $133.79 on Tuesday. The firm has a 50-day simple moving average of $136.48 and a 200-day simple moving average of $121.79. The stock has a market capitalization of $21.13 billion, a price-to-earnings ratio of 9.41 and a beta of 1.42. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30. Steel Dynamics, Inc. has a 52 week low of $90.55 and a 52 week high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.63 by ($0.02). Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the previous year, the business posted $4.37 earnings per share. Steel Dynamics’s revenue for the quarter was down 12.3% on a year-over-year basis. On average, equities analysts predict that Steel Dynamics, Inc. will post 11.79 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were paid a $0.46 dividend. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 27th. This represents a $1.84 annualized dividend and a dividend yield of 1.38%. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.61%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Citigroup upped their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. BMO Capital Markets upped their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. Finally, UBS Group dropped their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and a consensus target price of $121.17.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.