Disciplined Equity Management Inc. Makes New $354,000 Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

Disciplined Equity Management Inc. bought a new position in Steel Dynamics, Inc. (NASDAQ:STLD) during the fourth quarter, Holdings Channel reports. The institutional investor bought 3,000 shares of the basic materials company’s stock, valued at approximately $354,000.

Other large investors have also recently bought and sold shares of the company. Nordea Investment Management AB increased its stake in shares of Steel Dynamics by 1.1% in the fourth quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock valued at $118,787,000 after purchasing an additional 11,026 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $14,762,000. Barclays PLC increased its stake in shares of Steel Dynamics by 3.1% in the third quarter. Barclays PLC now owns 363,518 shares of the basic materials company’s stock valued at $38,975,000 after purchasing an additional 10,942 shares during the period. AustralianSuper Pty Ltd increased its stake in shares of Steel Dynamics by 13.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 514,888 shares of the basic materials company’s stock valued at $60,808,000 after purchasing an additional 59,668 shares during the period. Finally, Morgan Stanley increased its stake in shares of Steel Dynamics by 0.8% in the third quarter. Morgan Stanley now owns 2,612,430 shares of the basic materials company’s stock valued at $280,105,000 after purchasing an additional 19,833 shares during the period. Institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on STLD. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. UBS Group lowered their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. BMO Capital Markets raised their price objective on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. Finally, Citigroup raised their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and a consensus target price of $121.17.

Steel Dynamics Price Performance

Steel Dynamics stock traded down $4.24 during mid-day trading on Wednesday, hitting $129.92. The company’s stock had a trading volume of 2,557,025 shares, compared to its average volume of 1,199,661. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $20.52 billion, a P/E ratio of 8.90 and a beta of 1.42. Steel Dynamics, Inc. has a twelve month low of $90.55 and a twelve month high of $151.34. The stock’s fifty day moving average price is $136.80 and its two-hundred day moving average price is $121.97.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.13. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.01 earnings per share. Research analysts forecast that Steel Dynamics, Inc. will post 11.79 earnings per share for the current year.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were paid a $0.46 dividend. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.84 dividend on an annualized basis and a yield of 1.42%. Steel Dynamics’s dividend payout ratio (DPR) is currently 12.61%.

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.