Steel Dynamics, Inc. $STLD Shares Bought by Van ECK Associates Corp

Van ECK Associates Corp grew its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 27.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,936 shares of the basic materials company’s stock after acquiring an additional 25,585 shares during the quarter. Van ECK Associates Corp owned about 0.08% of Steel Dynamics worth $16,583,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Versant Capital Management Inc raised its stake in Steel Dynamics by 13.2% in the 3rd quarter. Versant Capital Management Inc now owns 548 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 64 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its holdings in shares of Steel Dynamics by 24.8% during the third quarter. Bartlett & CO. Wealth Management LLC now owns 377 shares of the basic materials company’s stock worth $53,000 after buying an additional 75 shares in the last quarter. Choreo LLC grew its holdings in shares of Steel Dynamics by 3.3% during the third quarter. Choreo LLC now owns 2,521 shares of the basic materials company’s stock worth $353,000 after buying an additional 80 shares in the last quarter. Bessemer Group Inc. raised its position in shares of Steel Dynamics by 6.4% in the third quarter. Bessemer Group Inc. now owns 1,339 shares of the basic materials company’s stock valued at $187,000 after buying an additional 81 shares during the last quarter. Finally, Wright Investors Service Inc. raised its position in shares of Steel Dynamics by 1.5% in the third quarter. Wright Investors Service Inc. now owns 5,491 shares of the basic materials company’s stock valued at $766,000 after buying an additional 82 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Trading Down 1.4%

Steel Dynamics stock traded down $2.48 during trading on Friday, reaching $172.62. The company had a trading volume of 209,898 shares, compared to its average volume of 1,298,746. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $208.47. The stock’s 50 day moving average price is $184.92 and its two-hundred day moving average price is $163.56. The firm has a market capitalization of $25.01 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 0.50 and a beta of 1.43. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.10. The company had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. Steel Dynamics’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.36 earnings per share. As a group, equities analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be given a $0.53 dividend. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.12 annualized dividend and a dividend yield of 1.2%. Steel Dynamics’s dividend payout ratio is 24.97%.

Analyst Ratings Changes

A number of analysts recently issued reports on STLD shares. Wells Fargo & Company raised their target price on shares of Steel Dynamics from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Jefferies Financial Group boosted their price target on Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. KeyCorp restated an “overweight” rating and set a $190.00 price objective on shares of Steel Dynamics in a report on Wednesday, January 7th. Finally, JPMorgan Chase & Co. upped their target price on Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.22.

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.