ING Groep NV Makes New Investment in Steel Dynamics, Inc. $STLD

ING Groep NV acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,588 shares of the basic materials company’s stock, valued at approximately $500,000.

Several other large investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in Steel Dynamics in the 2nd quarter valued at $339,769,000. Qube Research & Technologies Ltd bought a new position in shares of Steel Dynamics during the second quarter valued at $48,746,000. AQR Capital Management LLC lifted its holdings in shares of Steel Dynamics by 79.1% during the second quarter. AQR Capital Management LLC now owns 627,542 shares of the basic materials company’s stock valued at $80,332,000 after acquiring an additional 277,166 shares during the period. Bank of America Corp DE boosted its stake in shares of Steel Dynamics by 34.7% in the 2nd quarter. Bank of America Corp DE now owns 1,028,947 shares of the basic materials company’s stock valued at $131,715,000 after purchasing an additional 264,827 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Steel Dynamics by 15.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,936,077 shares of the basic materials company’s stock worth $269,947,000 after purchasing an additional 260,104 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on STLD shares. The Goldman Sachs Group set a $172.00 price target on shares of Steel Dynamics and gave the company a “neutral” rating in a report on Friday, October 31st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. Citigroup increased their price target on Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. KeyCorp reaffirmed an “overweight” rating and set a $190.00 price target on shares of Steel Dynamics in a report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. lifted their price objective 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 six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $182.00.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $191.68 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29. The firm has a 50 day simple moving average of $178.05 and a 200 day simple moving average of $155.23. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $208.47. The firm has a market cap of $27.99 billion, a P/E ratio of 23.93, a P/E/G ratio of 0.52 and a beta of 1.46.

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

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.