Steel

Brown Advisory Inc. Has $604,000 Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)


Brown Advisory Inc. raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 11.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,112 shares of the basic materials company’s stock after buying an additional 507 shares during the quarter. Brown Advisory Inc.’s holdings in Steel Dynamics were worth $604,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Nordea Investment Management AB raised its stake in Steel Dynamics by 1.1% during the 4th quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock valued at $118,787,000 after purchasing an additional 11,026 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Steel Dynamics by 1.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 17,321 shares of the basic materials company’s stock valued at $2,046,000 after buying an additional 278 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Steel Dynamics in the fourth quarter valued at about $14,762,000. Barclays PLC grew its position in Steel Dynamics by 3.1% during the third quarter. Barclays PLC now owns 363,518 shares of the basic materials company’s stock worth $38,975,000 after buying an additional 10,942 shares in the last quarter. Finally, AustralianSuper Pty Ltd grew its holdings in shares of Steel Dynamics by 13.1% during the 4th quarter. AustralianSuper Pty Ltd now owns 514,888 shares of the basic materials company’s stock worth $60,808,000 after purchasing an additional 59,668 shares in the last quarter. 82.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Citigroup lifted their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. lifted their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. BMO Capital Markets increased their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, March 18th. Finally, Jefferies Financial Group began coverage on Steel Dynamics in a report on Monday, May 20th. They set a “hold” rating and a $150.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Steel Dynamics has a consensus rating of “Hold” and a consensus price target of $125.29.

Check Out Our Latest Report on STLD

Steel Dynamics Price Performance

Shares of STLD stock opened at $133.34 on Friday. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. Steel Dynamics, Inc. has a 12-month low of $90.55 and a 12-month high of $151.34. The firm has a fifty day moving average of $138.76 and a 200-day moving average of $126.30. The firm has a market capitalization of $20.95 billion, a price-to-earnings ratio of 9.16 and a beta of 1.47.

Steel Dynamics (NASDAQ:STLDGet Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the company earned $4.01 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 12.44 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Sunday, June 30th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date is Friday, June 28th. Steel Dynamics’s dividend payout ratio is presently 12.64%.

Insider Buying and Selling

In other news, SVP Christopher A. Graham sold 21,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the completion of the transaction, the senior vice president now directly owns 60,415 shares in the company, valued at approximately $8,265,376.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. 6.00% of the stock is currently owned by corporate insiders.

About Steel Dynamics

(Free Report)

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.

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)



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