LSV Asset Management Has $182.60 Million Position in Steel Dynamics, Inc. (NASDAQ:STLD)

LSV Asset Management lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.9% during the 2nd quarter, Holdings Channel reports. The firm owned 1,410,070 shares of the basic materials company’s stock after purchasing an additional 53,532 shares during the quarter. LSV Asset Management’s holdings in Steel Dynamics were worth $182,604,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. boosted its holdings in shares of Steel Dynamics by 12.0% during the 4th quarter. Franklin Resources Inc. now owns 344,569 shares of the basic materials company’s stock worth $40,694,000 after buying an additional 37,033 shares during the period. Nordea Investment Management AB boosted its holdings in shares of Steel Dynamics by 2.5% during the 1st quarter. Nordea Investment Management AB now owns 1,034,133 shares of the basic materials company’s stock worth $153,290,000 after buying an additional 25,280 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Steel Dynamics by 1.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 17,321 shares of the basic materials company’s stock worth $2,046,000 after buying an additional 278 shares during the period. Schroder Investment Management Group boosted its holdings in shares of Steel Dynamics by 15.3% during the 4th quarter. Schroder Investment Management Group now owns 743,697 shares of the basic materials company’s stock worth $87,831,000 after buying an additional 98,764 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of Steel Dynamics by 1,498.4% during the 1st quarter. SG Americas Securities LLC now owns 29,730 shares of the basic materials company’s stock worth $4,407,000 after buying an additional 27,870 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Steel Dynamics in a report on Monday, May 20th. They set a “hold” rating and a $150.00 target price for the company. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Bank of America cut their price objective on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. BMO Capital Markets cut their price objective on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a report on Tuesday, June 18th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Steel Dynamics has an average rating of “Hold” and a consensus price target of $141.86.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock traded down $0.32 on Friday, reaching $111.00. 1,481,999 shares of the stock were exchanged, compared to its average volume of 1,031,944. The firm’s 50 day moving average is $122.90 and its 200-day moving average is $130.17. Steel Dynamics, Inc. has a one year low of $95.53 and a one year high of $151.34. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The firm has a market cap of $17.44 billion, a PE ratio of 7.62 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. The company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.81 EPS. As a group, analysts anticipate that Steel Dynamics, Inc. will post 10.74 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.66%. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

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.