Lingohr Asset Management GmbH Raises Holdings in Steel Dynamics, Inc. $STLD

Lingohr Asset Management GmbH grew its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 1,284.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 40,423 shares of the basic materials company’s stock after buying an additional 37,504 shares during the period. Lingohr Asset Management GmbH’s holdings in Steel Dynamics were worth $5,636,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ninety One UK Ltd boosted its position in shares of Steel Dynamics by 33.5% during the 3rd quarter. Ninety One UK Ltd now owns 119,863 shares of the basic materials company’s stock worth $16,712,000 after purchasing an additional 30,102 shares during the period. Rakuten Investment Management Inc. purchased a new position in shares of Steel Dynamics during the third quarter worth $8,592,000. Forvis Mazars Wealth Advisors LLC acquired a new stake in shares of Steel Dynamics in the third quarter valued at $1,047,000. Allworth Financial LP lifted its stake in Steel Dynamics by 119.3% during the 2nd quarter. Allworth Financial LP now owns 11,012 shares of the basic materials company’s stock worth $1,410,000 after acquiring an additional 5,991 shares in the last quarter. Finally, Generali Asset Management SPA SGR acquired a new position in Steel Dynamics in the 3rd quarter valued at about $1,315,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on STLD. Weiss Ratings restated a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 29th. Wall Street Zen upgraded shares of Steel Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Saturday. The Goldman Sachs Group set a $172.00 price objective on Steel Dynamics and gave the company a “neutral” rating in a research note on Friday, October 31st. Wells Fargo & Company boosted their target price on Steel Dynamics from $172.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. Finally, UBS Group set a $165.00 price target on Steel Dynamics in a research report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $182.00.

Steel Dynamics Stock Down 1.3%

STLD stock opened at $179.57 on Friday. The company has a current ratio of 3.06, a quick ratio of 1.47 and a debt-to-equity ratio of 0.48. The company’s 50 day moving average is $171.89 and its two-hundred day moving average is $150.39. The stock has a market cap of $26.22 billion, a P/E ratio of 22.42, a PEG ratio of 0.76 and a beta of 1.48. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $185.56.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.10. The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. Steel Dynamics’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.36 earnings per share. Research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders 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 payout ratio is 24.97%.

Steel Dynamics 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.