Grantham Mayo Van Otterloo & Co. LLC Raises Stock Position in Steel Dynamics, Inc. $STLD

Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.4% in the third quarter, HoldingsChannel reports. The firm owned 154,739 shares of the basic materials company’s stock after buying an additional 6,460 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Steel Dynamics were worth $21,575,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its holdings in shares of Steel Dynamics by 1,636.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock valued at $27,000 after buying an additional 180 shares during the period. True Wealth Design LLC grew its holdings in Steel Dynamics by 120.4% during the second quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 177 shares during the period. Toth Financial Advisory Corp grew its holdings in Steel Dynamics by 50.0% during the third quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 100 shares during the period. Covestor Ltd raised its position in Steel Dynamics by 44.3% during the third quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 93 shares in the last quarter. Finally, CNB Bank acquired a new position in Steel Dynamics in the third quarter valued at approximately $43,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STLD has been the topic of several recent research reports. Jefferies Financial Group upped their price objective on Steel Dynamics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. KeyCorp reiterated an “overweight” rating and issued a $190.00 target price on shares of Steel Dynamics in a research note on Wednesday, January 7th. Morgan Stanley reissued an “equal weight” rating and set a $194.00 price target (up from $173.00) on shares of Steel Dynamics in a report on Friday, January 9th. Wells Fargo & Company raised their price target on shares of Steel Dynamics from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 29th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Steel Dynamics presently has an average rating of “Moderate Buy” and an average price target of $184.22.

Steel Dynamics Trading Down 4.4%

Shares of Steel Dynamics stock opened at $181.61 on Monday. The company has a current ratio of 3.06, a quick ratio of 1.29 and a debt-to-equity ratio of 0.48. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $208.47. The firm has a market capitalization of $26.31 billion, a PE ratio of 22.67, a P/E/G ratio of 0.49 and a beta of 1.43. The firm’s 50-day moving average price is $184.10 and its 200 day moving average price is $162.58.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, topping the consensus estimate 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 return on equity of 13.56% and a net margin of 6.52%.The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.36 earnings per share. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.2%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, March 31st. Steel Dynamics’s dividend payout ratio (DPR) is currently 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.