Steel Dynamics, Inc. (NASDAQ:STLD) Shares Bought by Metis Global Partners LLC

Metis Global Partners LLC lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 18.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 13,536 shares of the basic materials company’s stock after purchasing an additional 2,123 shares during the period. Metis Global Partners LLC’s holdings in Steel Dynamics were worth $1,599,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in Steel Dynamics by 1.1% during the fourth quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock worth $118,787,000 after acquiring an additional 11,026 shares during the period. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Steel Dynamics during the fourth quarter valued at $14,762,000. Barclays PLC boosted its position in shares of Steel Dynamics by 3.1% in the 3rd quarter. Barclays PLC now owns 363,518 shares of the basic materials company’s stock valued at $38,975,000 after purchasing an additional 10,942 shares during the period. AustralianSuper Pty Ltd increased its stake in Steel Dynamics by 13.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 514,888 shares of the basic materials company’s stock worth $60,808,000 after purchasing an additional 59,668 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in Steel Dynamics during the 4th quarter worth about $1,087,000. Institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on STLD. Citigroup raised their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. BMO Capital Markets boosted their target price 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. UBS Group lowered their price target on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and an average target price of $121.17.

Steel Dynamics Trading Up 0.1 %

Shares of NASDAQ:STLD opened at $132.71 on Wednesday. Steel Dynamics, Inc. has a 1 year low of $90.55 and a 1 year high of $151.34. The firm has a fifty day moving average price of $138.24 and a 200 day moving average price of $123.87. The company has a current ratio of 2.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $20.96 billion, a PE ratio of 9.11 and a beta of 1.47.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.13. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.01 EPS. Analysts expect that Steel Dynamics, Inc. will post 12.76 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.39%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

About Steel Dynamics

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.