Steel Dynamics, Inc. (NASDAQ:STLD) Shares Purchased by American Century Companies Inc.

American Century Companies Inc. increased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 9.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 225,239 shares of the basic materials company’s stock after buying an additional 19,348 shares during the period. American Century Companies Inc. owned about 0.14% of Steel Dynamics worth $29,168,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new stake in shares of Steel Dynamics during the 1st quarter worth approximately $25,000. LifeSteps Financial Inc. purchased a new stake in Steel Dynamics during the first quarter worth $26,000. Security National Bank acquired a new stake in Steel Dynamics in the fourth quarter valued at $30,000. Innealta Capital LLC purchased a new position in shares of Steel Dynamics in the second quarter valued at $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Steel Dynamics during the 2nd quarter worth $41,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently commented on STLD. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Bank of America dropped their price objective on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. JPMorgan Chase & Co. upgraded Steel Dynamics from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $120.00 to $131.00 in a research report on Monday, September 9th. BMO Capital Markets lowered their target price on Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating on the stock in a report on Tuesday. Finally, Morgan Stanley cut their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and a consensus target price of $141.29.

Steel Dynamics Trading Up 0.6 %

Shares of Steel Dynamics stock opened at $115.12 on Thursday. Steel Dynamics, Inc. has a fifty-two week low of $98.03 and a fifty-two week high of $151.34. The business’s fifty day moving average is $120.74 and its two-hundred day moving average is $129.24. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. The firm has a market cap of $18.09 billion, a PE ratio of 7.91 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. The company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.81 EPS. Analysts anticipate that Steel Dynamics, Inc. will post 10.81 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.60%. Steel Dynamics’s dividend payout ratio (DPR) 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.