Steel Dynamics, Inc. (NASDAQ:STLD) Stock Holdings Raised by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,768,333 shares of the basic materials company’s stock after purchasing an additional 22,390 shares during the period. Steel Dynamics accounts for approximately 0.5% of Thrivent Financial for Lutherans’ holdings, making the stock its 25th biggest holding. Thrivent Financial for Lutherans owned 1.15% of Steel Dynamics worth $228,999,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of STLD. Larson Financial Group LLC bought a new stake in shares of Steel Dynamics in the 1st quarter worth about $25,000. LifeSteps Financial Inc. bought a new stake in shares of Steel Dynamics during the 1st quarter valued at about $26,000. Security National Bank bought a new stake in shares of Steel Dynamics during the 4th quarter valued at about $30,000. Innealta Capital LLC bought a new stake in shares of Steel Dynamics during the 2nd quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Steel Dynamics during the 2nd quarter valued at about $41,000. Institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on STLD. Bank of America lowered 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 report on Wednesday, June 26th. BMO Capital Markets lowered their price objective on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a research report on Tuesday. Morgan Stanley lowered their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. upgraded shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $120.00 to $131.00 in a research report on Monday, September 9th. Six equities research 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 an average rating of “Hold” and a consensus price target of $141.29.

Steel Dynamics Price Performance

NASDAQ STLD opened at $119.83 on Friday. Steel Dynamics, Inc. has a 52 week low of $98.25 and a 52 week high of $151.34. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. The stock has a market cap of $18.83 billion, a price-to-earnings ratio of 8.23 and a beta of 1.32. The company has a 50-day moving average price of $120.11 and a two-hundred day moving average price of $129.01.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. The company had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the prior year, the business posted $4.81 EPS. Analysts forecast that Steel Dynamics, Inc. will post 10.57 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Monday, September 30th. Steel Dynamics’s dividend payout ratio is currently 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.