Swiss Life Asset Management Ltd Purchases 4,297 Shares of Steel Dynamics, Inc. $STLD

Swiss Life Asset Management Ltd raised its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 13.5% during the third quarter, HoldingsChannel.com reports. The firm owned 36,040 shares of the basic materials company’s stock after purchasing an additional 4,297 shares during the period. Swiss Life Asset Management Ltd’s holdings in Steel Dynamics were worth $5,025,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its stake in shares of Steel Dynamics by 1,636.4% during the third 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 last quarter. Toth Financial Advisory Corp raised its holdings in shares of Steel Dynamics by 50.0% in the third quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock worth $42,000 after buying an additional 100 shares during the period. Covestor Ltd lifted its stake in shares of Steel Dynamics by 44.3% during the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 93 shares during the last quarter. CNB Bank bought a new stake in shares of Steel Dynamics during the 3rd quarter worth approximately $43,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in Steel Dynamics during the 3rd quarter valued at $46,000. Institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on STLD. Morgan Stanley reaffirmed an “underperform” rating and issued a $190.00 price objective on shares of Steel Dynamics in a research report on Tuesday. KeyCorp reiterated an “overweight” rating and set a $190.00 target price on shares of Steel Dynamics in a research report on Wednesday, January 7th. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Steel Dynamics from $194.00 to $192.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company decreased their price objective on shares of Steel Dynamics from $210.00 to $196.00 and set an “overweight” rating for the company in a report on Wednesday. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $182.44.

Steel Dynamics Stock Down 2.2%

Shares of NASDAQ:STLD opened at $163.95 on Friday. The business’s 50 day moving average is $184.68 and its 200 day moving average is $165.38. The stock has a market cap of $23.75 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 0.45 and a beta of 1.43. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $208.47. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48.

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

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be paid 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 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, March 31st. Steel Dynamics’s payout ratio is 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.