Intech Investment Management LLC Boosts Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Intech Investment Management LLC grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 291.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 123,812 shares of the basic materials company’s stock after purchasing an additional 92,208 shares during the period. Intech Investment Management LLC owned approximately 0.08% of Steel Dynamics worth $16,034,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC acquired a new position in shares of Steel Dynamics during the 1st quarter valued at about $25,000. LifeSteps Financial Inc. acquired a new stake in Steel Dynamics in the first quarter worth $26,000. Security National Bank bought a new position in Steel Dynamics during the fourth quarter valued at about $30,000. Innealta Capital LLC bought a new position in Steel Dynamics during the second quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at $41,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on STLD shares. Bank of America cut their price target on 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. raised Steel Dynamics from an “underweight” rating to a “neutral” rating and raised their target price for the company from $120.00 to $131.00 in a report on Monday, September 9th. BMO Capital Markets decreased their price objective on Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating on the stock in a report on Tuesday. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, Morgan Stanley reduced their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $141.29.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $120.09 on Friday. Steel Dynamics, Inc. has a one year low of $98.25 and a one year high of $151.34. The stock’s fifty day moving average price is $120.49 and its two-hundred day moving average price is $129.15. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.35 and a quick ratio of 1.19. The firm has a market cap of $18.53 billion, a PE ratio of 8.25 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.67 by $0.05. The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.81 EPS. As a group, research analysts expect that Steel Dynamics, Inc. will post 10.57 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Monday, September 30th. Steel Dynamics’s payout ratio is 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.