Mitsubishi UFJ Trust & Banking Corp Purchases 1,954 Shares of Steel Dynamics, Inc. $STLD

Mitsubishi UFJ Trust & Banking Corp boosted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 163,399 shares of the basic materials company’s stock after purchasing an additional 1,954 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Steel Dynamics were worth $20,917,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in STLD. Nordea Investment Management AB boosted its stake in shares of Steel Dynamics by 43.3% in the 2nd quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock valued at $271,238,000 after purchasing an additional 630,935 shares in the last quarter. OFI Invest Asset Management purchased a new position in Steel Dynamics in the 2nd quarter worth $4,221,000. Regal Partners Ltd bought a new stake in Steel Dynamics in the second quarter worth $3,164,000. Geneos Wealth Management Inc. lifted its stake in Steel Dynamics by 72.4% in the first quarter. Geneos Wealth Management Inc. now owns 1,143 shares of the basic materials company’s stock worth $143,000 after purchasing an additional 480 shares during the last quarter. Finally, Alpine Woods Capital Investors LLC boosted its position in Steel Dynamics by 10.4% during the second quarter. Alpine Woods Capital Investors LLC now owns 47,773 shares of the basic materials company’s stock valued at $6,115,000 after buying an additional 4,489 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Price Performance

STLD opened at $155.41 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.11. The stock has a market capitalization of $22.70 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 1.39 and a beta of 1.45. The stock’s 50 day moving average price is $145.58 and its 200-day moving average price is $135.61. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $164.73.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. The company had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The firm’s revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.05 earnings per share. On average, equities research analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. Steel Dynamics’s payout ratio is presently 26.49%.

Analyst Ratings Changes

Several research firms have recently commented on STLD. UBS Group set a $165.00 price objective on Steel Dynamics in a report on Tuesday, November 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Steel Dynamics in a research report on Thursday. Morgan Stanley boosted their price objective on Steel Dynamics from $145.00 to $173.00 and gave the company an “overweight” rating in a research report on Friday, October 24th. Citigroup increased their price objective on Steel Dynamics from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, October 13th. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $170.44.

Insider Activity

In related news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the transaction, the senior vice president directly owned 117,068 shares of the company’s stock, valued at $19,057,499.72. This represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.30% of the stock is owned by corporate insiders.

Steel Dynamics 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.