Zurcher Kantonalbank Zurich Cantonalbank Acquires 25,787 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 79.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 58,158 shares of the basic materials company's stock after buying an additional 25,787 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Steel Dynamics were worth $6,868,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of STLD. Mn Services Vermogensbeheer B.V. grew its position in shares of Steel Dynamics by 0.3% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 77,900 shares of the basic materials company's stock worth $9,200,000 after purchasing an additional 200 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Steel Dynamics during the 4th quarter worth approximately $1,087,000. Crestwood Advisors Group LLC acquired a new position in shares of Steel Dynamics during the 4th quarter worth approximately $479,000. Simplicity Solutions LLC grew its position in shares of Steel Dynamics by 64.6% during the 4th quarter. Simplicity Solutions LLC now owns 4,792 shares of the basic materials company's stock worth $566,000 after purchasing an additional 1,880 shares in the last quarter. Finally, Koshinski Asset Management Inc. grew its position in shares of Steel Dynamics by 56.6% during the 4th quarter. Koshinski Asset Management Inc. now owns 4,360 shares of the basic materials company's stock worth $515,000 after purchasing an additional 1,575 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup increased their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, March 13th. UBS Group reduced 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. JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 16th. Finally, BMO Capital Markets increased their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a "market perform" rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $120.29.

Steel Dynamics Price Performance

NASDAQ:STLD traded up $0.83 on Friday, hitting $136.90. The company had a trading volume of 983,336 shares, compared to its average volume of 903,580. The stock has a market capitalization of $21.62 billion, a price-to-earnings 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. The firm has a 50 day moving average of $136.21 and a two-hundred day moving average of $121.58. Steel Dynamics, Inc. has a 52 week low of $90.55 and a 52 week high of $151.34.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.63 by ($0.02). The company 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%. Steel Dynamics's revenue for the quarter was down 12.3% on a year-over-year basis. During the same period in the previous year, the company earned $4.37 EPS. On average, research analysts anticipate that Steel Dynamics, Inc. will post 11.79 earnings per share for the current year.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were paid a dividend of $0.46 per share. 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%. This is an increase from Steel Dynamics's previous quarterly dividend of $0.43. Steel Dynamics's dividend payout ratio (DPR) is presently 12.61%.

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.