Dimensional Fund Advisors LP Lowers Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Dimensional Fund Advisors LP lowered its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 6.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,255,420 shares of the basic materials company's stock after selling 298,960 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.63% of Steel Dynamics worth $502,590,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

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

Steel Dynamics Stock Performance

Shares of STLD traded up $0.34 on Friday, reaching $135.18. The company's stock had a trading volume of 792,465 shares, compared to its average volume of 1,258,132. The stock's 50 day simple moving average is $138.26 and its two-hundred day simple moving average is $124.58. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. The stock has a market capitalization of $21.35 billion, a P/E ratio of 9.28 and a beta of 1.47. Steel Dynamics, Inc. has a 12-month low of $90.55 and a 12-month high of $151.34.

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

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.36%. Steel Dynamics's dividend payout ratio is presently 12.64%.

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.