Mutual of America Capital Management LLC Lowers Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Mutual of America Capital Management LLC decreased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,376 shares of the basic materials company’s stock after selling 532 shares during the period. Mutual of America Capital Management LLC’s holdings in Steel Dynamics were worth $4,178,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of STLD. Nordea Investment Management AB increased its holdings in shares of 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 worth $118,787,000 after buying an additional 11,026 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Steel Dynamics during the fourth quarter worth about $14,762,000. Barclays PLC raised its holdings in shares of Steel Dynamics by 3.1% in the 3rd quarter. Barclays PLC now owns 363,518 shares of the basic materials company’s stock worth $38,975,000 after purchasing an additional 10,942 shares during the period. AustralianSuper Pty Ltd lifted its stake in shares of Steel Dynamics by 13.1% in the 4th quarter. AustralianSuper Pty Ltd now owns 514,888 shares of the basic materials company’s stock valued at $60,808,000 after purchasing an additional 59,668 shares in the last quarter. Finally, Summit Global Investments acquired a new position in shares of Steel Dynamics in the 3rd quarter valued at about $9,372,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $139.77 on Wednesday. Steel Dynamics, Inc. has a 12-month low of $90.55 and a 12-month high of $151.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.91 and a quick ratio of 1.67. The company has a market capitalization of $22.08 billion, a price-to-earnings ratio of 9.58 and a beta of 1.42. The firm’s fifty day moving average price is $135.46 and its 200 day moving average price is $120.92.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). The business had revenue of $4.23 billion for the quarter, compared to analysts’ expectations of $4.22 billion. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The firm’s revenue was down 12.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.37 earnings per share. On average, research analysts forecast that Steel Dynamics, Inc. will post 11.6 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were paid a dividend of $0.46 per share. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio is 12.61%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. UBS Group cut their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. BMO Capital Markets raised their target price on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. lifted their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a report on Tuesday. Finally, Citigroup increased their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $120.29.

Steel Dynamics 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.