Dimensional Fund Advisors LP Has $310.82 Million Stock Holdings in Steel Dynamics, Inc. $STLD

Dimensional Fund Advisors LP trimmed its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 9.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,229,282 shares of the basic materials company’s stock after selling 225,260 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Steel Dynamics were worth $310,816,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Cornerstone Planning Group LLC increased its position in Steel Dynamics by 1,636.4% during the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after buying an additional 180 shares during the last quarter. True Wealth Design LLC boosted its stake in shares of Steel Dynamics by 120.4% during the 2nd quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 177 shares during the period. Toth Financial Advisory Corp increased its holdings in shares of Steel Dynamics by 50.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 100 shares during the last quarter. Covestor Ltd raised its stake in Steel Dynamics by 44.3% in the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 93 shares during the period. Finally, CNB Bank acquired a new stake in Steel Dynamics during the 3rd quarter valued at $43,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on STLD. Morgan Stanley reiterated an “equal weight” rating and issued a $194.00 price objective (up from $173.00) on shares of Steel Dynamics in a report on Friday, January 9th. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “strong-buy” rating in a report on Saturday, January 31st. Jefferies Financial Group increased their price target on shares of Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. KeyCorp restated an “overweight” rating and set a $190.00 price objective on shares of Steel Dynamics in a research report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. upped their target price on Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Five analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Steel Dynamics presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.22.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $189.98 on Friday. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $27.52 billion, a price-to-earnings ratio of 23.72, a price-to-earnings-growth ratio of 0.52 and a beta of 1.43. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $208.47. The company has a 50-day simple moving average of $183.98 and a two-hundred day simple moving average of $161.70.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.62 billion. During the same quarter in the prior year, the business posted $1.36 EPS. The business’s revenue was up 14.0% compared to the same quarter last year. Analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Increases Dividend

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

About Steel Dynamics

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.