Steel Dynamics, Inc. $STLD Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management increased its stake in Steel Dynamics by 5.8% in the fourth quarter, ending with 294,039 shares worth about $51.8 million.
• Steel Dynamics reported quarterly EPS of $2.78, narrowly missing estimates, while revenue of $5.20 billion also came in below expectations but still rose 19.1% year over year.
• The company declared a quarterly dividend of $0.53 per share, and analyst sentiment remains mixed with a consensus rating of Hold and an average price target of $214.30.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 294,039 shares of the basic materials company's stock after buying an additional 16,022 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.20% of Steel Dynamics worth $51,769,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lingohr Asset Management GmbH grew its position in shares of Steel Dynamics by 1,284.8% during the third quarter. Lingohr Asset Management GmbH now owns 40,423 shares of the basic materials company's stock worth $5,636,000 after buying an additional 37,504 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of Steel Dynamics during the third quarter worth about $8,592,000. Forvis Mazars Wealth Advisors LLC acquired a new position in shares of Steel Dynamics during the third quarter worth about $1,047,000. Mediolanum International Funds Ltd grew its position in shares of Steel Dynamics by 157.2% during the third quarter. Mediolanum International Funds Ltd now owns 206,140 shares of the basic materials company's stock worth $28,629,000 after buying an additional 125,981 shares in the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its position in shares of Steel Dynamics by 156.3% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 15,935 shares of the basic materials company's stock worth $2,222,000 after buying an additional 9,717 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $235.10 on Friday. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $243.73. The stock has a 50 day moving average of $193.25 and a two-hundred day moving average of $179.18. The stock has a market cap of $33.90 billion, a P/E ratio of 25.14, a P/E/G ratio of 0.50 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The firm had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.39 billion. During the same quarter in the prior year, the firm posted $1.44 EPS. Steel Dynamics's quarterly revenue was up 19.1% compared to the same quarter last year. On average, research analysts forecast that Steel Dynamics, Inc. will post 14.77 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be paid a $0.53 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. Steel Dynamics's payout ratio is currently 22.67%.

Insider Buying and Selling

In other Steel Dynamics news, Director Kenneth W. Cornew sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total value of $1,124,350.00. Following the completion of the sale, the director owned 31,299 shares in the company, valued at approximately $7,038,206.13. The trade was a 13.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Miguel Alvarez sold 4,825 shares of the business's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total value of $1,088,423.50. Following the completion of the sale, the senior vice president owned 122,257 shares of the company's stock, valued at approximately $27,578,734.06. This represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. 6.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on STLD shares. Bank of America cut Steel Dynamics from a "buy" rating to a "neutral" rating and set a $250.00 target price for the company. in a research note on Thursday, April 30th. BMO Capital Markets boosted their target price on Steel Dynamics from $195.00 to $240.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 22nd. Wall Street Zen upgraded Steel Dynamics from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. Jefferies Financial Group restated a "buy" rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Finally, Wells Fargo & Company boosted their target price on Steel Dynamics from $207.00 to $235.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 22nd. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $214.30.

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.

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