15,311 Shares in Steel Dynamics, Inc. $STLD Acquired by MMCAP International Inc. SPC

MMCAP International Inc. SPC purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 15,311 shares of the basic materials company’s stock, valued at approximately $2,135,000.

Other large investors also recently modified their holdings of the company. Lingohr Asset Management GmbH increased its holdings in Steel Dynamics by 1,284.8% in the third quarter. Lingohr Asset Management GmbH now owns 40,423 shares of the basic materials company’s stock valued at $5,636,000 after buying an additional 37,504 shares during the last quarter. 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 acquiring an additional 30,102 shares in the last quarter. Rakuten Investment Management Inc. purchased a new position in shares of Steel Dynamics in the 3rd quarter valued at about $8,592,000. Forvis Mazars Wealth Advisors LLC acquired a new stake in shares of Steel Dynamics during the 3rd quarter worth about $1,047,000. Finally, Mediolanum International Funds Ltd lifted its stake in Steel Dynamics by 157.2% during the third quarter. Mediolanum International Funds Ltd now owns 206,140 shares of the basic materials company’s stock worth $28,629,000 after purchasing an additional 125,981 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Up 1.5%

Shares of NASDAQ:STLD opened at $193.39 on Monday. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $208.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29. The stock has a market cap of $28.24 billion, a P/E ratio of 24.14, a P/E/G ratio of 0.52 and a beta of 1.46. The firm has a fifty day moving average price of $180.30 and a 200 day moving average price of $157.85.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.10. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.62 billion. During the same period in the prior year, the company earned $1.36 earnings per share. The business’s revenue was up 14.0% compared to the same quarter last year. Sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be paid a $0.53 dividend. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, March 31st. This represents a $2.12 annualized dividend and a dividend yield of 1.1%. Steel Dynamics’s dividend payout ratio (DPR) is 24.97%.

Analyst Upgrades and Downgrades

STLD has been the topic of several recent analyst reports. UBS Group set a $165.00 price target on shares of Steel Dynamics in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. The Goldman Sachs Group set a $172.00 price target on shares of Steel Dynamics and gave the stock a “neutral” rating in a research note on Friday, October 31st. Wells Fargo & Company upped their price objective on shares of Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. Finally, Jefferies Financial Group raised their price objective on Steel Dynamics from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Five analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $182.00.

About Steel Dynamics

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.