Aberdeen Group plc Raises Stock Holdings in Steel Dynamics, Inc. $STLD

Key Points

• Aberdeen Group plc increased their stake in Steel Dynamics by 5.5%, owning a total of 165,822 shares valued at approximately $21.23 million.
• Several hedge funds also increased their positions in Steel Dynamics, with Price T Rowe Associates raising theirs by 25.5% and Victory Capital Management by an impressive 433.1% in Q1.
• Steel Dynamics recently announced a dividend of $0.50 per share, representing a 1.4% yield and reflecting a payout ratio of 29.15%.

Aberdeen Group plc boosted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 5.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 165,822 shares of the basic materials company's stock after buying an additional 8,577 shares during the period. Aberdeen Group plc owned approximately 0.11% of Steel Dynamics worth $21,227,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Steel Dynamics by 25.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company's stock worth $883,854,000 after purchasing an additional 1,437,897 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Steel Dynamics by 433.1% during the first quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company's stock worth $227,211,000 after acquiring an additional 1,475,767 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Steel Dynamics by 40.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company's stock valued at $214,541,000 after purchasing an additional 484,304 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Steel Dynamics by 3.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,599,076 shares of the basic materials company's stock valued at $200,012,000 after purchasing an additional 52,218 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Steel Dynamics by 2.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,405,666 shares of the basic materials company's stock worth $175,821,000 after acquiring an additional 30,759 shares during the last quarter. Institutional investors own 82.41% of the company's stock.

Insiders Place Their Bets

In related news, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following the transaction, the senior vice president owned 66,738 shares in the company, valued at approximately $8,456,371.98. This trade represents a 15.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on STLD. Morgan Stanley lifted their price objective on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Weiss Ratings reissued a "hold (c)" rating on shares of Steel Dynamics in a research note on Wednesday, October 8th. Wells Fargo & Company upped their target price on Steel Dynamics from $143.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. Finally, JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $150.00 to $160.00 and gave the company a "neutral" rating in a research note on Monday. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $149.89.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $145.54 on Tuesday. The company has a market cap of $21.42 billion, a P/E ratio of 21.22, a P/E/G ratio of 1.15 and a beta of 1.40. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $155.56. The business has a fifty day simple moving average of $133.73 and a 200-day simple moving average of $130.09.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing analysts' consensus estimates of $2.05 by ($0.04). The business had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.82 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. Steel Dynamics's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.72 EPS. Equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were issued a $0.50 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. Steel Dynamics's dividend payout ratio (DPR) is presently 29.15%.

Steel Dynamics 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.

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