Intech Investment Management LLC Grows Position in Steel Dynamics, Inc. $STLD

Intech Investment Management LLC boosted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 107.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,084 shares of the basic materials company’s stock after purchasing an additional 41,034 shares during the period. Intech Investment Management LLC’s holdings in Steel Dynamics were worth $11,027,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in STLD. Versant Capital Management Inc boosted its position in shares of Steel Dynamics by 13.2% during the third quarter. Versant Capital Management Inc now owns 548 shares of the basic materials company’s stock valued at $76,000 after buying an additional 64 shares during the period. Bartlett & CO. Wealth Management LLC raised its holdings in shares of Steel Dynamics by 24.8% in 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 during the period. Bessemer Group Inc. lifted its stake in shares of Steel Dynamics by 6.4% during the 3rd quarter. Bessemer Group Inc. now owns 1,339 shares of the basic materials company’s stock worth $187,000 after acquiring an additional 81 shares during the last quarter. Wright Investors Service Inc. boosted its holdings in Steel Dynamics by 1.5% during the 3rd quarter. Wright Investors Service Inc. now owns 5,491 shares of the basic materials company’s stock valued at $766,000 after acquiring an additional 82 shares during the period. Finally, Crestwood Advisors Group LLC grew its position in Steel Dynamics by 2.1% in the 3rd quarter. Crestwood Advisors Group LLC now owns 4,330 shares of the basic materials company’s stock valued at $604,000 after acquiring an additional 91 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Up 0.5%

Shares of Steel Dynamics stock opened at $192.52 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29. The stock has a market cap of $28.12 billion, a price-to-earnings ratio of 24.03, a PEG ratio of 0.52 and a beta of 1.46. The firm’s 50-day moving average is $182.01 and its two-hundred day moving average is $159.31. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $208.47.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, topping 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 in the prior year, the company earned $1.36 EPS. The company’s revenue was up 14.0% compared to the same quarter last year. As a group, research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal 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 issued a dividend of $0.53 per share. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Steel Dynamics’s dividend payout ratio (DPR) is currently 24.97%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STLD. Jefferies Financial Group lifted their target price on Steel Dynamics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. 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 report on Monday, December 15th. Morgan Stanley reissued an “equal weight” rating and issued a $194.00 price objective (up from $173.00) on shares of Steel Dynamics in a research report on Friday, January 9th. UBS Group set a $165.00 target price on shares of Steel Dynamics in a research report on Tuesday, November 4th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.