BNP Paribas Financial Markets Acquires 86,821 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

BNP Paribas Financial Markets lifted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 39.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 308,197 shares of the basic materials company's stock after purchasing an additional 86,821 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.20% of Steel Dynamics worth $35,156,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of STLD. Wilmington Savings Fund Society FSB acquired a new stake in shares of Steel Dynamics in the third quarter worth about $25,000. ORG Wealth Partners LLC acquired a new position in Steel Dynamics during the 4th quarter worth $28,000. IAG Wealth Partners LLC acquired a new position in Steel Dynamics during the 4th quarter valued at $39,000. Avalon Trust Co acquired a new position in shares of Steel Dynamics in the fourth quarter valued at $42,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at $48,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Trading Down 0.8%

Shares of Steel Dynamics stock traded down $1.11 during trading on Tuesday, reaching $135.42. 1,586,512 shares of the company were exchanged, compared to its average volume of 1,503,627. The firm has a market capitalization of $20.30 billion, a price-to-earnings ratio of 13.82, a P/E/G ratio of 1.05 and a beta of 1.44. The business has a 50-day moving average price of $123.77 and a 200-day moving average price of $128.16. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.04. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. The company had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.17 billion. During the same quarter last year, the firm posted $3.67 earnings per share. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 1.48%. Steel Dynamics's dividend payout ratio (DPR) is presently 26.42%.

Steel Dynamics declared that its Board of Directors has approved a share repurchase plan on Monday, February 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the basic materials company to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $135.00 to $138.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. KeyCorp raised Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price objective on the stock in a research note on Tuesday, February 11th. StockNews.com lowered Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. UBS Group upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective for the company in a research report on Monday, March 24th. Finally, Jefferies Financial Group upgraded shares of Steel Dynamics from a "hold" rating to a "buy" rating and raised their price objective for the company from $125.00 to $145.00 in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Steel Dynamics currently has a consensus rating of "Moderate Buy" and an average target price of $147.44.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.