Sumitomo Mitsui Trust Group Inc. Cuts Holdings in Steel Dynamics, Inc. $STLD

Sumitomo Mitsui Trust Group Inc. lessened its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 331,504 shares of the basic materials company’s stock after selling 6,725 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Steel Dynamics were worth $56,173,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Nordea Investment Management AB grew its stake 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. grew its stake in Steel Dynamics by 3.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock worth $340,289,000 after buying an additional 72,122 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Steel Dynamics by 1.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,046,791 shares of the basic materials company’s stock worth $145,953,000 after buying an additional 10,537 shares in the last quarter. Bank of America Corp DE grew its stake in Steel Dynamics by 34.7% in the 2nd quarter. Bank of America Corp DE now owns 1,028,947 shares of the basic materials company’s stock worth $131,715,000 after buying an additional 264,827 shares in the last quarter. Finally, Boston Partners purchased a new position in Steel Dynamics in the 3rd quarter worth approximately $101,254,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $194.11 on Thursday. Steel Dynamics, Inc. has a 52-week low of $112.72 and a 52-week high of $208.47. The stock has a market capitalization of $28.09 billion, a price-to-earnings ratio of 24.23, a price-to-earnings-growth ratio of 0.54 and a beta of 1.39. The company has a fifty day moving average of $185.67 and a 200-day moving average of $171.15. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data 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. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.62 billion. During the same quarter in the prior year, the company earned $1.36 EPS. The firm’s revenue was up 14.0% on a year-over-year basis. Equities research analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Tuesday, March 31st were issued a dividend of $0.53 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.12 dividend on an annualized basis and a yield of 1.1%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s dividend payout ratio (DPR) is currently 26.47%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wells Fargo & Company reissued an “overweight” rating and issued a $207.00 price target on shares of Steel Dynamics in a research note on Wednesday. Morgan Stanley reaffirmed an “underperform” rating and issued a $190.00 price objective on shares of Steel Dynamics in a research note on Tuesday, March 17th. Wall Street Zen cut shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. JPMorgan Chase & Co. upped their price objective on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $185.11.

Steel Dynamics Company 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.