Grantham Mayo Van Otterloo & Co. LLC Raises Holdings in Steel Dynamics, Inc. $STLD

Grantham Mayo Van Otterloo & Co. LLC increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,739 shares of the basic materials company’s stock after buying an additional 6,460 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned about 0.11% of Steel Dynamics worth $21,575,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of STLD. Laffer Tengler Investments Inc. increased its holdings in shares of Steel Dynamics by 19.7% in the 3rd quarter. Laffer Tengler Investments Inc. now owns 48,138 shares of the basic materials company’s stock valued at $6,712,000 after acquiring an additional 7,907 shares during the period. Sprott Inc. lifted its stake in shares of Steel Dynamics by 1.7% during the 3rd quarter. Sprott Inc. now owns 89,992 shares of the basic materials company’s stock worth $12,548,000 after purchasing an additional 1,492 shares during the last quarter. Fisher Asset Management LLC boosted its position in Steel Dynamics by 47.2% during the third quarter. Fisher Asset Management LLC now owns 34,878 shares of the basic materials company’s stock valued at $4,863,000 after purchasing an additional 11,183 shares in the last quarter. Handelsbanken Fonder AB boosted its position in Steel Dynamics by 17.3% during the third quarter. Handelsbanken Fonder AB now owns 39,300 shares of the basic materials company’s stock valued at $5,480,000 after purchasing an additional 5,800 shares in the last quarter. Finally, Banco Santander S.A. grew its stake in Steel Dynamics by 10.0% in the third quarter. Banco Santander S.A. now owns 5,720 shares of the basic materials company’s stock valued at $798,000 after purchasing an additional 520 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings restated a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 29th. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. KeyCorp reiterated an “overweight” rating and set a $190.00 price objective on shares of Steel Dynamics in a research note on Wednesday, January 7th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $194.00 target price (up from $173.00) on shares of Steel Dynamics in a research report on Friday, January 9th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $184.22.

Steel Dynamics Stock Down 4.4%

Steel Dynamics stock opened at $181.61 on Monday. The business’s 50-day simple moving average is $184.10 and its two-hundred day simple moving average is $162.58. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06. The company has a market cap of $26.31 billion, a PE ratio of 22.67, a PEG ratio of 0.49 and a beta of 1.43. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $208.47.

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

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.12 dividend on an annualized basis and a yield of 1.2%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s payout ratio is 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.