Charles Schwab Investment Management Inc. Has $180.62 Million Stock Holdings in Steel Dynamics, Inc. $STLD

Charles Schwab Investment Management Inc. increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,410,983 shares of the basic materials company’s stock after acquiring an additional 5,317 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Steel Dynamics were worth $180,620,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in Steel Dynamics by 25.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company’s stock worth $883,854,000 after purchasing an additional 1,437,897 shares during the period. Nordea Investment Management AB increased its position in shares of Steel Dynamics by 43.3% in the 2nd quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock valued at $271,238,000 after buying an additional 630,935 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in Steel Dynamics by 40.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock worth $214,541,000 after buying an additional 484,304 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Steel Dynamics by 3.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,599,076 shares of the basic materials company’s stock worth $200,012,000 after buying an additional 52,218 shares during the period. Finally, Nuveen LLC bought a new position in Steel Dynamics during the first quarter worth about $62,470,000. Institutional investors own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In other news, SVP Miguel Alvarez sold 8,251 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the transaction, the senior vice president owned 117,068 shares in the company, valued at $19,057,499.72. This trade represents a 6.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.30% of the stock is currently owned by corporate insiders.

Steel Dynamics Trading Up 1.4%

NASDAQ:STLD opened at $166.62 on Thursday. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $167.07. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. The business has a 50 day moving average price of $149.54 and a two-hundred day moving average price of $137.18. The company has a market cap of $24.33 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 1.39 and a beta of 1.45.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the company earned $2.05 earnings per share. As a group, analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 annualized dividend and a yield of 1.2%. Steel Dynamics’s payout ratio is 26.49%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on STLD shares. The Goldman Sachs Group set a $172.00 price target on Steel Dynamics and gave the stock a “neutral” rating in a report on Friday, October 31st. BMO Capital Markets boosted their price objective on Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, October 13th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a report on Tuesday. Finally, Morgan Stanley increased their price objective on shares of Steel Dynamics from $145.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $170.44.

Steel Dynamics Company 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.