UniSuper Management Pty Ltd Increases Stock Holdings in Steel Dynamics, Inc. $STLD

UniSuper Management Pty Ltd lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 16.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 75,675 shares of the basic materials company’s stock after buying an additional 10,598 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Steel Dynamics were worth $10,551,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in STLD. NewEdge Advisors LLC lifted its holdings in shares of Steel Dynamics by 307.5% in the first quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $102,000 after purchasing an additional 618 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of Steel Dynamics by 82.7% during the 1st quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after purchasing an additional 1,578 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Steel Dynamics by 133.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 3,578 shares of the basic materials company’s stock worth $458,000 after purchasing an additional 2,043 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Steel Dynamics by 2.7% during the 2nd quarter. Fifth Third Bancorp now owns 7,145 shares of the basic materials company’s stock worth $915,000 after purchasing an additional 189 shares during the last quarter. Finally, Patton Fund Management Inc. purchased a new stake in Steel Dynamics in the 2nd quarter valued at approximately $221,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Stock Up 1.4%

Shares of NASDAQ:STLD opened at $181.32 on Friday. The company has a current ratio of 3.11, a quick ratio of 1.47 and a debt-to-equity ratio of 0.43. The firm has a market cap of $26.48 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 0.76 and a beta of 1.48. The stock’s 50-day moving average price is $169.72 and its two-hundred day moving average price is $149.04. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $182.81.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $2.00 annualized dividend and a yield of 1.1%. Steel Dynamics’s dividend payout ratio is 26.49%.

Wall Street Analysts Forecast Growth

STLD has been the subject of several recent research reports. Morgan Stanley reissued an “equal weight” rating and set a $194.00 price target (up previously from $173.00) on shares of Steel Dynamics in a research report on Friday, January 9th. KeyCorp reiterated an “overweight” rating and set a $190.00 price objective on shares of Steel Dynamics in a research report on Wednesday, January 7th. UBS Group set a $165.00 target price on shares of Steel Dynamics in a report on Tuesday, November 4th. Citigroup lifted their price target on shares of Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Wells Fargo & Company boosted their price objective on shares of Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. Five equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics presently has an average rating of “Hold” and a consensus price target of $182.00.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of Steel Dynamics stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total value of $1,343,180.29. Following 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 document filed with the Securities & Exchange Commission, which is available through this link. 6.30% of the stock is currently owned by corporate insiders.

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.