Steel Dynamics, Inc. $STLD Position Reduced by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd reduced its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 93.0% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,012 shares of the basic materials company’s stock after selling 186,699 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Steel Dynamics were worth $1,954,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Trust Co. of Toledo NA OH acquired a new position in Steel Dynamics in the 2nd quarter worth approximately $30,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Steel Dynamics by 306.2% in the second quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 199 shares in the last quarter. True Wealth Design LLC boosted its position in shares of Steel Dynamics by 120.4% in the second quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock worth $41,000 after buying an additional 177 shares during the period. Toth Financial Advisory Corp grew its holdings in shares of Steel Dynamics by 50.0% during the third quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock valued at $42,000 after buying an additional 100 shares in the last quarter. Finally, Covestor Ltd grew its holdings in shares of Steel Dynamics by 44.3% during the third quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after buying an additional 93 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

STLD has been the subject of a number of research reports. Weiss Ratings restated a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. UBS Group set a $165.00 price target on shares of Steel Dynamics in a research report on Tuesday, November 4th. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. KeyCorp reiterated an “overweight” rating and issued a $190.00 price objective on shares of Steel Dynamics in a research note on Wednesday, January 7th. Finally, BMO Capital Markets lifted their target price on shares of Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Five research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $182.00.

Steel Dynamics Stock Performance

Shares of STLD opened at $179.57 on Friday. The firm has a market cap of $26.22 billion, a price-to-earnings ratio of 22.42, a price-to-earnings-growth ratio of 0.76 and a beta of 1.48. The company’s fifty day moving average is $171.89 and its 200-day moving average is $150.39. The company has a quick ratio of 1.47, a current ratio of 3.06 and a debt-to-equity ratio of 0.48. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $185.56.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Monday, January 26th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.10. The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. Steel Dynamics’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.36 earnings per share. Equities analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.1%. Steel Dynamics’s dividend payout ratio is currently 24.97%.

Steel Dynamics 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.