Ninety One UK Ltd Acquires 61,326 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Ninety One UK Ltd increased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 76.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 141,435 shares of the basic materials company's stock after purchasing an additional 61,326 shares during the period. Ninety One UK Ltd owned 0.09% of Steel Dynamics worth $16,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Global Retirement Partners LLC grew its position in Steel Dynamics by 25.8% in the 4th quarter. Global Retirement Partners LLC now owns 478 shares of the basic materials company's stock worth $53,000 after purchasing an additional 98 shares during the last quarter. Wellington Shields & Co. LLC boosted its holdings in Steel Dynamics by 50.0% during the fourth quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company's stock worth $29,000 after buying an additional 100 shares in the last quarter. Ronald Blue Trust Inc. boosted its holdings in Steel Dynamics by 7.8% during the third quarter. Ronald Blue Trust Inc. now owns 1,425 shares of the basic materials company's stock worth $155,000 after buying an additional 103 shares in the last quarter. Allworth Financial LP lifted its position in shares of Steel Dynamics by 2.2% in the 4th quarter. Allworth Financial LP now owns 4,853 shares of the basic materials company's stock valued at $573,000 after acquiring an additional 103 shares in the last quarter. Finally, Greenfield Savings Bank lifted its position in shares of Steel Dynamics by 0.9% in the 4th quarter. Greenfield Savings Bank now owns 11,591 shares of the basic materials company's stock valued at $1,369,000 after acquiring an additional 108 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Price Performance

Steel Dynamics stock traded up $0.83 during trading hours on Friday, reaching $136.90. 983,335 shares of the stock were exchanged, compared to its average volume of 1,174,604. The company has a market cap of $21.62 billion, a P/E ratio of 9.38 and a beta of 1.42. The company has a current ratio of 2.91, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. Steel Dynamics, Inc. has a twelve month low of $90.55 and a twelve month high of $151.34. The stock has a 50 day moving average of $136.21 and a two-hundred day moving average of $121.37.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.63 by ($0.02). The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.22 billion. Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The firm's quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter last year, the business earned $4.37 EPS. Equities analysts expect that Steel Dynamics, Inc. will post 11.79 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were given a dividend of $0.46 per share. This is an increase from Steel Dynamics's previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.84 annualized dividend and a dividend yield of 1.34%. Steel Dynamics's dividend payout ratio (DPR) is 12.61%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on STLD. JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an "underweight" rating in a research report on Tuesday. Citigroup raised their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, March 13th. UBS Group decreased their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 24th. Finally, BMO Capital Markets raised their price objective on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a "market perform" rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $120.29.

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.