Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Holdings in Steel Dynamics, Inc. $STLD

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 5.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 278,017 shares of the basic materials company’s stock after acquiring an additional 13,506 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.19% of Steel Dynamics worth $38,764,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Intech Investment Management LLC boosted its stake in Steel Dynamics by 107.8% during the 3rd quarter. Intech Investment Management LLC now owns 79,084 shares of the basic materials company’s stock worth $11,027,000 after purchasing an additional 41,034 shares during the period. Colonial Trust Advisors raised its holdings in shares of Steel Dynamics by 90.3% in the third quarter. Colonial Trust Advisors now owns 491 shares of the basic materials company’s stock valued at $68,000 after buying an additional 233 shares during the last quarter. TD Asset Management Inc boosted its stake in shares of Steel Dynamics by 40.9% during the third quarter. TD Asset Management Inc now owns 70,092 shares of the basic materials company’s stock worth $9,773,000 after buying an additional 20,352 shares during the period. Mufg Securities Americas Inc. grew its holdings in shares of Steel Dynamics by 22.0% during the third quarter. Mufg Securities Americas Inc. now owns 3,732 shares of the basic materials company’s stock worth $520,000 after buying an additional 672 shares during the last quarter. Finally, Compound Planning Inc. increased its position in Steel Dynamics by 6.6% in the 3rd quarter. Compound Planning Inc. now owns 2,374 shares of the basic materials company’s stock valued at $331,000 after acquiring an additional 148 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $193.13 on Friday. The company’s fifty day moving average is $182.38 and its two-hundred day moving average is $160.04. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06. The firm has a market capitalization of $28.20 billion, a P/E ratio of 24.11, a PEG ratio of 0.52 and a beta of 1.46. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $208.47.

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

Steel Dynamics Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. KeyCorp reaffirmed an “overweight” rating and set a $190.00 price objective on shares of Steel Dynamics in a research report on Wednesday, January 7th. Wall Street Zen raised Steel Dynamics from a “hold” rating to a “strong-buy” rating in a report on Saturday, January 31st. Wells Fargo & Company lifted their price objective 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 objective on shares of Steel Dynamics in a research report on Tuesday, November 4th. Finally, Jefferies Financial Group raised their target price on shares of Steel Dynamics from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price 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.