WINTON GROUP Ltd Takes $2.18 Million Position in Steel Dynamics, Inc. $STLD

WINTON GROUP Ltd acquired a new position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,500 shares of the basic materials company's stock, valued at approximately $2,180,000.

Other large investors have also added to or reduced their stakes in the company. California State Teachers Retirement System increased its holdings in shares of Steel Dynamics by 26,381.3% in the second quarter. California State Teachers Retirement System now owns 42,793,831 shares of the basic materials company's stock worth $9,819,472,000 after purchasing an additional 42,632,231 shares during the period. BlackRock Inc. purchased a new position in Steel Dynamics during the second quarter worth about $2,844,501,000. Capital Research Global Investors grew its position in Steel Dynamics by 0.3% during the fourth quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company's stock worth $613,926,000 after buying an additional 9,959 shares in the last quarter. Life Cycle Investment Partners Ltd bought a new position in Steel Dynamics in the 4th quarter worth about $586,702,000. Finally, Norges Bank bought a new position in Steel Dynamics in the 4th quarter worth about $564,590,000. Institutional investors own 82.41% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Morgan Stanley dropped their price target on Steel Dynamics from $270.00 to $260.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 22nd. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a research note on Wednesday, July 29th. They issued a "buy" rating and a $300.00 target price on the stock. Wall Street Zen upgraded shares of Steel Dynamics from a "buy" rating to a "strong-buy" rating in a research report on Saturday. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $260.00 to $273.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Barclays raised their price objective on shares of Steel Dynamics from $270.00 to $272.00 and gave the company an "overweight" rating in a research report on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $258.45.

Steel Dynamics Stock Up 1.1%

Shares of NASDAQ STLD opened at $239.79 on Friday. Steel Dynamics, Inc. has a one year low of $129.41 and a one year high of $288.74. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45. The firm's 50 day simple moving average is $242.94 and its two-hundred day simple moving average is $226.71. The stock has a market capitalization of $34.37 billion, a P/E ratio of 21.74, a PEG ratio of 0.45 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, topping analysts' consensus estimates of $3.63 by $0.06. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The firm had revenue of $6.09 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same period in the previous year, the business posted $2.01 EPS. The business's quarterly revenue was up 33.4% on a year-over-year basis. As a group, analysts expect that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.12 annualized dividend and a yield of 0.9%. Steel Dynamics's payout ratio is currently 19.22%.

Steel Dynamics Profile

Steel Dynamics, Inc is a steel producer and metals recycler headquartered in Fort Wayne, Indiana. Founded in 1993, the company operates electric arc furnaces that use recycled steel and other metallic inputs to manufacture a broad range of steel products. Its customers include companies in the construction, automotive, manufacturing, transportation, energy and appliance industries.

Steel Dynamics' steel operations produce flat-rolled steel, structural steel, rail, engineered bar products and other specialty steel products.

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