abrdn plc Increases Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

abrdn plc grew its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 21.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 152,827 shares of the basic materials company's stock after acquiring an additional 26,879 shares during the period. abrdn plc owned 0.09% of Steel Dynamics worth $18,049,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Nordea Investment Management AB boosted its holdings in shares of Steel Dynamics by 1.1% during the 4th quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company's stock worth $118,787,000 after buying an additional 11,026 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Steel Dynamics during the fourth quarter valued at about $14,762,000. Barclays PLC increased its holdings in Steel Dynamics by 3.1% during the 3rd quarter. Barclays PLC now owns 363,518 shares of the basic materials company's stock worth $38,975,000 after purchasing an additional 10,942 shares in the last quarter. AustralianSuper Pty Ltd grew its holdings in Steel Dynamics by 13.1% during the fourth quarter. AustralianSuper Pty Ltd now owns 514,888 shares of the basic materials company's stock worth $60,808,000 after buying an additional 59,668 shares in the last quarter. Finally, Louisiana State Employees Retirement System purchased a new position in Steel Dynamics during the 4th quarter worth $1,087,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on STLD shares. BMO Capital Markets lifted their target price on Steel Dynamics from $110.00 to $120.00 and gave the stock a "market perform" rating in a research note on Monday, March 18th. Citigroup boosted their target price on Steel Dynamics from $130.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $100.00 to $118.00 and gave the stock an "underweight" rating in a report on Tuesday, April 16th. Finally, UBS Group cut their target price on shares of Steel Dynamics from $120.00 to $119.00 and set a "neutral" rating for the company in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics currently has an average rating of "Hold" and an average price target of $121.17.

Steel Dynamics Price Performance

NASDAQ STLD traded up $3.11 during trading hours on Thursday, hitting $133.03. The company had a trading volume of 1,447,860 shares, compared to its average volume of 1,202,762. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91. The firm has a market capitalization of $21.01 billion, a price-to-earnings ratio of 9.14 and a beta of 1.42. Steel Dynamics, Inc. has a 52 week low of $90.55 and a 52 week high of $151.34. The firm has a 50 day simple moving average of $137.00 and a 200 day simple moving average of $122.03.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, topping analysts' consensus estimates of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.83%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the firm posted $4.01 EPS. Steel Dynamics's revenue was down 4.1% on a year-over-year basis. Equities research analysts expect that Steel Dynamics, Inc. will post 11.79 earnings per share for the current year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were paid a dividend of $0.46 per share. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 27th. This represents a $1.84 annualized dividend and a yield of 1.38%. Steel Dynamics's dividend payout ratio (DPR) is currently 12.64%.

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.