Steel Dynamics, Inc. (NASDAQ:STLD) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 0.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 148,499 shares of the basic materials company’s stock after purchasing an additional 431 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.09% of Steel Dynamics worth $17,688,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Moran Wealth Management LLC lifted its position in Steel Dynamics by 526.5% in the fourth quarter. Moran Wealth Management LLC now owns 42,185 shares of the basic materials company’s stock valued at $4,982,000 after buying an additional 35,452 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Steel Dynamics by 1.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 17,321 shares of the basic materials company’s stock worth $2,046,000 after purchasing an additional 278 shares during the period. 1ST Source Bank purchased a new position in shares of Steel Dynamics during the 4th quarter worth approximately $212,000. Avantax Advisory Services Inc. increased its holdings in Steel Dynamics by 9.6% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,101 shares of the basic materials company’s stock valued at $366,000 after purchasing an additional 272 shares during the last quarter. Finally, Wambolt & Associates LLC raised its position in Steel Dynamics by 22.6% in the fourth quarter. Wambolt & Associates LLC now owns 13,995 shares of the basic materials company’s stock valued at $1,653,000 after purchasing an additional 2,577 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of Steel Dynamics stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total value of $2,873,010.00. Following the transaction, the senior vice president now directly owns 60,415 shares in the company, valued at $8,265,376.15. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.00% of the stock is owned by company insiders.

Steel Dynamics Stock Down 0.8 %

Shares of NASDAQ:STLD opened at $133.93 on Friday. 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 firm has a 50 day simple moving average of $138.72 and a 200-day simple moving average of $125.38. The company has a market capitalization of $21.04 billion, a PE ratio of 9.20 and a beta of 1.47. Steel Dynamics, Inc. has a twelve month low of $90.55 and a twelve month high of $151.34.

Steel Dynamics (NASDAQ:STLDGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.13. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $4.01 earnings per share. On average, equities analysts predict that Steel Dynamics, Inc. will post 12.36 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be issued a $0.46 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.37%. Steel Dynamics’s payout ratio is 12.64%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on STLD. Citigroup lifted their price objective on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. UBS Group cut their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. BMO Capital Markets raised their price objective 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, JPMorgan Chase & Co. upped their target price 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Steel Dynamics has an average rating of “Hold” and an average target price of $121.17.

Read Our Latest Stock Report on STLD

Steel Dynamics Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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