Steel Dynamics, Inc. $STLD Position Cut by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd decreased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 93.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,012 shares of the basic materials company’s stock after selling 186,699 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Steel Dynamics were worth $1,954,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Trust Co. of Toledo NA OH acquired a new position in Steel Dynamics during the 2nd quarter valued at about $30,000. Rosenberg Matthew Hamilton raised its holdings in shares of Steel Dynamics by 306.2% during the second quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock valued at $34,000 after buying an additional 199 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Steel Dynamics by 120.4% during the second quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock valued at $41,000 after buying an additional 177 shares during the last quarter. Toth Financial Advisory Corp grew its holdings in Steel Dynamics by 50.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock worth $42,000 after buying an additional 100 shares in the last quarter. Finally, Covestor Ltd grew its holdings in Steel Dynamics by 44.3% in the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock worth $42,000 after buying an additional 93 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD opened at $179.57 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.47. The firm’s 50 day moving average is $171.89 and its 200-day moving average is $150.39. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $185.56. The stock has a market capitalization of $26.22 billion, a P/E ratio of 22.42, a P/E/G ratio of 0.76 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Monday, January 26th. The basic materials company reported $1.82 earnings per share for the quarter, topping 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%. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same period last year, the firm posted $1.36 earnings per share. Equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.1%. Steel Dynamics’s payout ratio is 24.97%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on STLD shares. The Goldman Sachs Group set a $172.00 price target on Steel Dynamics and gave the stock a “neutral” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 29th. Wells Fargo & Company increased their target price on shares of Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. UBS Group set a $165.00 price target on shares of Steel Dynamics in a research report on Tuesday, November 4th. Finally, BMO Capital Markets upped their price target on shares of Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and a consensus price target of $182.00.

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.