Pacer Advisors Inc. Increases Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Pacer Advisors Inc. boosted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 7.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,138,157 shares of the basic materials company’s stock after buying an additional 140,042 shares during the period. Pacer Advisors Inc. owned 1.39% of Steel Dynamics worth $276,891,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. National Bank of Canada FI boosted its position in shares of Steel Dynamics by 481.2% during the 2nd quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock valued at $42,461,000 after acquiring an additional 272,226 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in Steel Dynamics by 65.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock worth $74,064,000 after purchasing an additional 225,832 shares during the period. Swedbank AB acquired a new position in Steel Dynamics in the 1st quarter valued at about $32,178,000. Acadian Asset Management LLC grew its stake 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 buying an additional 202,312 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Steel Dynamics during the 2nd quarter worth approximately $24,670,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Stock Down 0.2 %

Shares of STLD opened at $119.83 on Friday. The company’s 50-day simple moving average is $120.11 and its 200-day simple moving average is $129.01. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. Steel Dynamics, Inc. has a 1 year low of $98.25 and a 1 year high of $151.34. The stock has a market capitalization of $18.83 billion, a PE ratio of 8.23 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.67 by $0.05. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter last year, the company posted $4.81 EPS. The firm’s revenue was down 8.8% compared to the same quarter last year. Analysts forecast that Steel Dynamics, Inc. will post 10.57 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, October 11th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.46 per share. The ex-dividend date is Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.54%. Steel Dynamics’s dividend payout ratio (DPR) is 12.64%.

Analyst Upgrades and Downgrades

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

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.