Steel Dynamics, Inc. $STLD Stock Position Increased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 825.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 34,548 shares of the basic materials company’s stock after buying an additional 30,815 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Steel Dynamics were worth $4,422,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of Steel Dynamics by 433.1% during the first quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company’s stock worth $227,211,000 after purchasing an additional 1,475,767 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Steel Dynamics by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company’s stock worth $883,854,000 after purchasing an additional 1,437,897 shares during the period. Nordea Investment Management AB raised its position in shares of Steel Dynamics by 43.3% during the second quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock worth $271,238,000 after purchasing an additional 630,935 shares during the period. Nuveen LLC acquired a new stake in shares of Steel Dynamics during the first quarter worth $62,470,000. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Steel Dynamics by 40.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock worth $214,541,000 after purchasing an additional 484,304 shares during the period. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $161.07 on Wednesday. The business’s 50-day moving average price is $139.21 and its two-hundred day moving average price is $132.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.34. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $163.10. The company has a market capitalization of $23.52 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 1.33 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Monday, October 20th. The basic materials company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. Analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were paid a $0.50 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. Steel Dynamics’s payout ratio is 26.49%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on STLD shares. UBS Group set a $158.00 target price on Steel Dynamics and gave the stock a “buy” rating in a research report on Tuesday, October 21st. BMO Capital Markets boosted their target price on Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Jefferies Financial Group upped their price target on Steel Dynamics from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Steel Dynamics in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company upped their price target on Steel Dynamics from $150.00 to $169.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Steel Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price of $163.56.

Steel Dynamics Company 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.