Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. reduced its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 5.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,110 shares of the basic materials company’s stock after selling 110 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Steel Dynamics were worth $273,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of STLD. National Bank of Canada FI lifted its holdings 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 worth $42,461,000 after acquiring an additional 272,226 shares during the period. Swedbank AB acquired a new position in Steel Dynamics during the first quarter worth approximately $32,178,000. Acadian Asset Management LLC raised its stake in Steel Dynamics by 21.6% during the first quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock worth $168,550,000 after purchasing an additional 202,312 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at $24,670,000. Finally, Price T Rowe Associates Inc. MD grew its stake 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 valued at $534,295,000 after buying an additional 152,254 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Stock Down 0.2 %

Shares of NASDAQ:STLD opened at $119.83 on Friday. The company has a market capitalization 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 of $120.11 and a two-hundred day moving average of $129.01. Steel Dynamics, Inc. has a 52-week low of $98.25 and a 52-week high of $151.34. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. The business 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 was down 8.8% on a year-over-year basis. During the same period last year, the business earned $4.81 EPS. As a group, analysts forecast that Steel Dynamics, Inc. will post 10.57 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend is Monday, September 30th. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Wall Street Analyst Weigh In

STLD has been the topic of a number of research analyst reports. BMO Capital Markets reduced 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, September 17th. Bank of America cut their price objective on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Morgan Stanley dropped their target price 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. JPMorgan Chase & Co. upgraded shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and raised their price target for the company from $120.00 to $131.00 in a report on Monday, September 9th. Finally, UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.