TD Asset Management Inc Acquires 20,352 Shares of Steel Dynamics, Inc. $STLD

TD Asset Management Inc raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 40.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 70,092 shares of the basic materials company’s stock after buying an additional 20,352 shares during the quarter. TD Asset Management Inc’s holdings in Steel Dynamics were worth $9,773,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Planning Group LLC raised its holdings in Steel Dynamics by 1,636.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 180 shares in the last quarter. True Wealth Design LLC raised its stake in Steel Dynamics by 120.4% in the second quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock worth $41,000 after buying an additional 177 shares in the last quarter. Toth Financial Advisory Corp lifted its holdings in Steel Dynamics by 50.0% in 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. Covestor Ltd boosted its position in Steel Dynamics by 44.3% during the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 93 shares in the last quarter. Finally, CNB Bank purchased a new position in shares of Steel Dynamics during the 3rd quarter worth approximately $43,000. Institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on STLD shares. KeyCorp restated an “overweight” rating and set a $190.00 price target on shares of Steel Dynamics in a research report on Wednesday, January 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $194.00 target price (up from $173.00) on shares of Steel Dynamics in a research report on Friday, January 9th. UBS Group set a $165.00 price objective on shares of Steel Dynamics in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. Finally, Wells Fargo & Company boosted their price target on Steel Dynamics from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $184.22.

Steel Dynamics Trading Up 4.3%

Steel Dynamics stock opened at $201.51 on Tuesday. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $208.47. The business’s fifty day moving average is $182.90 and its 200 day moving average is $160.77. 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 $29.43 billion, a PE ratio of 25.16, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43.

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

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors 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 1.1%. Steel Dynamics’s payout ratio is 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.