Schroder Investment Management Group Purchases 18,226 Shares of Steel Dynamics, Inc. $STLD

Key Points

• Schroder Investment Management increased its stake in Steel Dynamics by 7.9%, buying 18,226 shares to hold 249,142 shares (about 0.17%) valued at roughly $34.48 million, and institutional investors collectively own about 82.41% of the company.
• Steel Dynamics beat EPS estimates ($1.82 vs. $1.72) but missed revenue expectations ($4.41B vs. $4.62B), with revenue up 14% year-over-year and a market cap of $26.7 billion (P/E 23, PEG 0.49).
• The company raised its quarterly dividend to $0.53 per share (annualized $2.12, ~1.2% yield), and analysts have lifted price targets resulting in a consensus "Moderate Buy" and a target around $184.22.

Schroder Investment Management Group lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 7.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 249,142 shares of the basic materials company's stock after purchasing an additional 18,226 shares during the quarter. Schroder Investment Management Group owned 0.17% of Steel Dynamics worth $34,476,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. State Street Corp increased its stake in Steel Dynamics by 3.3% during the 2nd quarter. State Street Corp now owns 7,300,813 shares of the basic materials company's stock valued at $938,196,000 after purchasing an additional 230,582 shares in the last quarter. Norges Bank bought a new position in shares of Steel Dynamics in the second quarter valued at $339,769,000. Nordea Investment Management AB grew its holdings in shares of Steel Dynamics by 12.1% during the third quarter. Nordea Investment Management AB now owns 2,340,480 shares of the basic materials company's stock valued at $322,518,000 after buying an additional 252,108 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Steel Dynamics by 15.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,936,077 shares of the basic materials company's stock valued at $269,947,000 after buying an additional 260,104 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Steel Dynamics by 0.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,410,983 shares of the basic materials company's stock worth $180,620,000 after acquiring an additional 5,317 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Stock Up 1.1%

STLD opened at $184.26 on Thursday. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $208.47. The firm has a market capitalization of $26.70 billion, a P/E ratio of 23.00, a PEG ratio of 0.49 and a beta of 1.43. The company's 50-day moving average is $184.81 and its 200 day moving average is $163.48. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.72 by $0.10. The business had revenue of $4.41 billion during 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%. The firm's quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.36 EPS. 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 declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, March 31st. This is an increase from Steel Dynamics's previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a yield of 1.2%. Steel Dynamics's dividend payout ratio (DPR) is currently 24.97%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on STLD. Wells Fargo & Company upped their target price on shares of Steel Dynamics from $190.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday, March 2nd. Jefferies Financial Group boosted their price objective on Steel Dynamics from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Wednesday, December 10th. 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 note on Friday, January 9th. Weiss Ratings restated a "hold (c+)" rating on shares of Steel Dynamics in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $165.00 to $190.00 and gave the company a "neutral" rating in a research report on Friday, December 5th. Five research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price 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.

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