LSV Asset Management Sells 38,900 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

LSV Asset Management lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,465,138 shares of the basic materials company’s stock after selling 38,900 shares during the quarter. LSV Asset Management’s holdings in Steel Dynamics were worth $173,033,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB increased its position in Steel Dynamics by 1.1% during the 4th quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock valued at $118,787,000 after purchasing an additional 11,026 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Steel Dynamics in the 4th quarter valued at about $14,762,000. Barclays PLC boosted its position in shares of Steel Dynamics by 3.1% during the 3rd quarter. Barclays PLC now owns 363,518 shares of the basic materials company’s stock valued at $38,975,000 after purchasing an additional 10,942 shares in the last quarter. AustralianSuper Pty Ltd grew its stake in Steel Dynamics by 13.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 514,888 shares of the basic materials company’s stock worth $60,808,000 after purchasing an additional 59,668 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new position in Steel Dynamics in the fourth quarter valued at approximately $1,087,000. Institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on STLD. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. BMO Capital Markets raised their target price on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. Citigroup upped their price target on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Finally, UBS Group decreased their price objective on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $121.17.

Steel Dynamics Stock Up 3.6 %

Steel Dynamics stock traded up $4.68 during trading on Friday, hitting $135.47. 1,220,665 shares of the company were exchanged, compared to its average volume of 1,163,849. The company has a market capitalization of $21.40 billion, a P/E ratio of 9.30 and a beta of 1.47. The business’s 50 day moving average is $138.22 and its 200 day moving average is $123.15. Steel Dynamics, Inc. has a 52 week low of $90.55 and a 52 week high of $151.34. The company has a current ratio of 2.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.29.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the firm posted $4.01 EPS. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. Analysts predict that Steel Dynamics, Inc. will post 12.76 earnings per share for the current year.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were issued a dividend of $0.46 per share. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio (DPR) is 12.64%.

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.