Sumitomo Mitsui Trust Holdings Inc. Sells 18,928 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 496,161 shares of the basic materials company’s stock after selling 18,928 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.31% of Steel Dynamics worth $58,597,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of STLD. BlackRock Inc. grew its stake in shares of Steel Dynamics by 3.0% during the 1st quarter. BlackRock Inc. now owns 17,595,650 shares of the basic materials company’s stock valued at $1,989,364,000 after acquiring an additional 510,981 shares during the period. State Street Corp boosted its position in shares of Steel Dynamics by 9.5% in the first quarter. State Street Corp now owns 9,207,455 shares of the basic materials company’s stock worth $771,198,000 after purchasing an additional 800,656 shares during the period. Royal London Asset Management Ltd. increased its stake in shares of Steel Dynamics by 0.3% in the third quarter. Royal London Asset Management Ltd. now owns 3,745,326 shares of the basic materials company’s stock worth $401,574,000 after purchasing an additional 12,208 shares in the last quarter. Morgan Stanley raised its position in shares of Steel Dynamics by 29.2% during the 4th quarter. Morgan Stanley now owns 3,034,652 shares of the basic materials company’s stock valued at $296,486,000 after purchasing an additional 684,975 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Steel Dynamics by 15.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,308,698 shares of the basic materials company’s stock valued at $225,560,000 after purchasing an additional 309,009 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $136.07 on Friday. The company has a current ratio of 2.91, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. Steel Dynamics, Inc. has a 12 month low of $90.55 and a 12 month high of $151.34. The stock has a 50 day moving average of $135.97 and a 200 day moving average of $121.15. The firm has a market cap of $21.49 billion, a PE ratio of 9.33 and a beta of 1.42.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same period last year, the business posted $4.37 earnings per share. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. On average, research analysts expect that Steel Dynamics, Inc. will post 11.79 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 given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.35%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio is currently 12.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on STLD shares. BMO Capital Markets increased their price target on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday. UBS Group lowered their price target on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. Finally, Citigroup increased their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price 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.