Intech Investment Management LLC Increases Position in Steel Dynamics, Inc. $STLD

Intech Investment Management LLC lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 107.8% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 79,084 shares of the basic materials company’s stock after buying an additional 41,034 shares during the quarter. Intech Investment Management LLC owned approximately 0.05% of Steel Dynamics worth $11,027,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Lingohr Asset Management GmbH raised its stake in Steel Dynamics by 1,284.8% during the 3rd quarter. Lingohr Asset Management GmbH now owns 40,423 shares of the basic materials company’s stock valued at $5,636,000 after purchasing an additional 37,504 shares during the period. Ninety One UK Ltd grew its holdings in Steel Dynamics by 33.5% during the 3rd quarter. Ninety One UK Ltd now owns 119,863 shares of the basic materials company’s stock valued at $16,712,000 after buying an additional 30,102 shares in the last quarter. Rakuten Investment Management Inc. bought a new stake in shares of Steel Dynamics during the third quarter valued at approximately $8,592,000. Forvis Mazars Wealth Advisors LLC purchased a new position in shares of Steel Dynamics in the third quarter worth $1,047,000. Finally, Mediolanum International Funds Ltd boosted its position in shares of Steel Dynamics by 157.2% during the third quarter. Mediolanum International Funds Ltd now owns 206,140 shares of the basic materials company’s stock worth $28,629,000 after acquiring an additional 125,981 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

STLD has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, December 15th. Jefferies Financial Group raised their price objective on Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Wall Street Zen upgraded Steel Dynamics from a “hold” rating to a “strong-buy” rating in a research report on Saturday, January 31st. KeyCorp reissued an “overweight” rating and set a $190.00 price target on shares of Steel Dynamics in a research note on Wednesday, January 7th. Finally, UBS Group set a $165.00 price objective on Steel Dynamics in a research note on Tuesday, November 4th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Steel Dynamics presently has a consensus rating of “Moderate Buy” and an average target price of $182.00.

Steel Dynamics Stock Up 0.5%

Shares of NASDAQ STLD opened at $192.52 on Friday. The company has a current ratio of 3.06, a quick ratio of 1.29 and a debt-to-equity ratio of 0.48. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $208.47. The firm’s 50-day moving average price is $182.01 and its 200-day moving average price is $159.31. The stock has a market capitalization of $28.12 billion, a price-to-earnings ratio of 24.03, a P/E/G ratio of 0.52 and a beta of 1.46.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.10. The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.62 billion. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.36 earnings per share. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, March 31st. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s payout ratio is currently 24.97%.

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.