Vanguard Personalized Indexing Management LLC Buys 1,902 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Vanguard Personalized Indexing Management LLC raised its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 11.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,271 shares of the basic materials company’s stock after acquiring an additional 1,902 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Steel Dynamics were worth $2,496,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of STLD. Price T Rowe Associates Inc. MD boosted its position in shares of Steel Dynamics by 4.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock worth $534,295,000 after acquiring an additional 152,254 shares in the last quarter. LSV Asset Management boosted its holdings in shares of Steel Dynamics by 3.9% in the 2nd quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock valued at $182,604,000 after purchasing an additional 53,532 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Steel Dynamics by 21.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock valued at $168,550,000 after purchasing an additional 202,312 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Steel Dynamics by 2.5% in the 1st quarter. Nordea Investment Management AB now owns 1,034,133 shares of the basic materials company’s stock valued at $153,290,000 after purchasing an additional 25,280 shares during the last quarter. Finally, Schroder Investment Management Group raised its holdings in shares of Steel Dynamics by 15.3% during the 4th quarter. Schroder Investment Management Group now owns 743,697 shares of the basic materials company’s stock worth $87,831,000 after buying an additional 98,764 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on STLD. JPMorgan Chase & Co. upgraded Steel Dynamics from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $120.00 to $131.00 in a research report on Monday, September 9th. 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. 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. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, Morgan Stanley dropped their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $141.29.

Steel Dynamics Trading Down 0.2 %

NASDAQ STLD opened at $119.83 on Friday. The firm has a market capitalization of $18.83 billion, a PE ratio of 8.23 and a beta of 1.32. The business’s 50-day moving average price is $120.30 and its two-hundred day moving average price is $129.08. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. Steel Dynamics, Inc. has a 12 month low of $98.25 and a 12 month high of $151.34.

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 for 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 company’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.81 EPS. On average, analysts expect that Steel Dynamics, Inc. will post 10.57 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently announced 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 yield of 1.54%. Steel Dynamics’s payout ratio is currently 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.