Swiss National Bank Decreases Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Swiss National Bank cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 492,000 shares of the basic materials company's stock after selling 24,500 shares during the quarter. Swiss National Bank owned approximately 0.30% of Steel Dynamics worth $58,105,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Fisher Asset Management LLC grew its stake in shares of Steel Dynamics by 3.5% during the 4th quarter. Fisher Asset Management LLC now owns 59,338 shares of the basic materials company's stock worth $7,008,000 after acquiring an additional 1,999 shares during the period. First Trust Direct Indexing L.P. grew its stake in shares of Steel Dynamics by 18.0% during the 4th quarter. First Trust Direct Indexing L.P. now owns 3,593 shares of the basic materials company's stock worth $424,000 after acquiring an additional 548 shares during the period. Mach 1 Financial Group LLC bought a new position in shares of Steel Dynamics during the 4th quarter worth $241,000. Kestra Private Wealth Services LLC grew its stake in shares of Steel Dynamics by 30.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 3,397 shares of the basic materials company's stock worth $401,000 after acquiring an additional 792 shares during the period. Finally, Paradiem LLC grew its stake in shares of Steel Dynamics by 28.1% during the 4th quarter. Paradiem LLC now owns 64,039 shares of the basic materials company's stock worth $7,563,000 after acquiring an additional 14,048 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on STLD. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $100.00 to $118.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 16th. Citigroup raised their target price on Steel Dynamics from $130.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, March 13th. BMO Capital Markets raised 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. Finally, UBS Group cut their target price 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $121.17.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD traded down $2.87 on Monday, hitting $132.60. The company's stock had a trading volume of 1,817,784 shares, compared to its average volume of 1,204,110. The company has a 50-day simple moving average of $138.25 and a 200 day simple moving average of $123.64. Steel Dynamics, Inc. has a 1 year low of $90.55 and a 1 year high of $151.34. The company has a market capitalization of $20.94 billion, a PE ratio of 9.11 and a beta of 1.47. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The firm had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.74 billion. During the same quarter last year, the firm posted $4.01 EPS. The company's revenue was down 4.1% compared to the same quarter last year. Sell-side analysts forecast that Steel Dynamics, Inc. will post 12.76 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were issued a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.84 annualized dividend and a dividend yield of 1.39%. This is a boost from Steel Dynamics's previous quarterly dividend of $0.43. Steel Dynamics's dividend payout ratio (DPR) is presently 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.