International Assets Investment Management LLC Purchases 86,902 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

International Assets Investment Management LLC grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 415.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 107,825 shares of the basic materials company's stock after purchasing an additional 86,902 shares during the quarter. International Assets Investment Management LLC owned approximately 0.07% of Steel Dynamics worth $12,734,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its holdings in Steel Dynamics by 165.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company's stock worth $212,447,000 after buying an additional 1,255,751 shares in the last quarter. Norges Bank bought a new position in Steel Dynamics in the 4th quarter worth approximately $90,665,000. First Trust Advisors LP grew its holdings in Steel Dynamics by 183.6% in the 1st quarter. First Trust Advisors LP now owns 1,380,388 shares of the basic materials company's stock worth $115,166,000 after buying an additional 893,705 shares in the last quarter. State Street Corp grew its holdings in Steel Dynamics by 9.5% in the 1st quarter. State Street Corp now owns 9,207,455 shares of the basic materials company's stock worth $771,198,000 after buying an additional 800,656 shares in the last quarter. Finally, Morgan Stanley grew its holdings in Steel Dynamics by 29.2% in the 4th quarter. Morgan Stanley now owns 3,034,652 shares of the basic materials company's stock worth $296,486,000 after buying an additional 684,975 shares in the last quarter. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Stock Down 2.5 %

Shares of STLD traded down $3.60 during mid-day trading on Friday, reaching $140.63. The company's stock had a trading volume of 1,278,235 shares, compared to its average volume of 1,031,242. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30. Steel Dynamics, Inc. has a 1 year low of $90.55 and a 1 year high of $151.34. The business has a fifty day moving average of $134.68 and a 200 day moving average of $120.35. The company has a market cap of $22.21 billion, a price-to-earnings ratio of 9.64 and a beta of 1.42.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.63 by ($0.02). Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The firm had revenue of $4.23 billion for the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter in the prior year, the business posted $4.37 earnings per share. Steel Dynamics's revenue was down 12.3% on a year-over-year basis. As a group, analysts forecast that Steel Dynamics, Inc. will post 11.6 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 14th. Investors of record on Sunday, March 31st will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.31%. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Wednesday, March 27th. Steel Dynamics's dividend payout ratio (DPR) is currently 12.61%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on STLD. BMO Capital Markets increased their price objective on Steel Dynamics from $110.00 to $120.00 and gave the stock a "market perform" rating in a report on Monday, March 18th. UBS Group decreased their price target on Steel Dynamics from $120.00 to $119.00 and set a "neutral" rating for the company in a research note on Wednesday, January 24th. Finally, Citigroup increased their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $117.43.

About Steel Dynamics

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.