Ninety One UK Ltd Purchases 61,326 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Ninety One UK Ltd grew its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 76.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 141,435 shares of the basic materials company’s stock after acquiring an additional 61,326 shares during the period. Ninety One UK Ltd owned 0.09% of Steel Dynamics worth $16,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Global Retirement Partners LLC raised its stake in shares of Steel Dynamics by 25.8% in the fourth quarter. Global Retirement Partners LLC now owns 478 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 98 shares during the last quarter. Wellington Shields & Co. LLC grew its position in shares of Steel Dynamics by 50.0% during the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock worth $29,000 after buying an additional 100 shares during the period. Ronald Blue Trust Inc. grew its position in shares of Steel Dynamics by 7.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,425 shares of the basic materials company’s stock worth $155,000 after buying an additional 103 shares during the period. Allworth Financial LP grew its position in shares of Steel Dynamics by 2.2% during the 4th quarter. Allworth Financial LP now owns 4,853 shares of the basic materials company’s stock worth $573,000 after buying an additional 103 shares during the period. Finally, Greenfield Savings Bank grew its position in shares of Steel Dynamics by 0.9% during the 4th quarter. Greenfield Savings Bank now owns 11,591 shares of the basic materials company’s stock worth $1,369,000 after buying an additional 108 shares during the period. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Stock Down 2.1 %

Shares of NASDAQ STLD opened at $136.07 on Friday. The stock has a market cap of $21.49 billion, a P/E ratio of 9.33 and a beta of 1.42. Steel Dynamics, Inc. has a 52-week low of $90.55 and a 52-week high of $151.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91. The firm has a 50 day moving average price of $135.97 and a 200 day moving average price of $121.15.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.63 by ($0.02). The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.22 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 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $4.37 EPS. Analysts expect that Steel Dynamics, Inc. will post 11.79 EPS for the current year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s payout ratio is currently 12.61%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Citigroup lifted their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, March 18th. UBS Group decreased their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $120.29.

About Steel Dynamics

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.