Asset Management One Co. Ltd. Has $8.26 Million Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Asset Management One Co. Ltd. grew its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,516 shares of the basic materials company’s stock after buying an additional 1,727 shares during the period. Asset Management One Co. Ltd.’s holdings in Steel Dynamics were worth $8,260,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in STLD. National Bank of Canada FI lifted its position in shares of Steel Dynamics by 481.2% in the second quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock worth $42,461,000 after buying an additional 272,226 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Steel Dynamics by 65.3% during the 2nd 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 last quarter. Swedbank AB acquired a new position in shares of Steel Dynamics during the 1st quarter worth about $32,178,000. Acadian Asset Management LLC lifted its position in shares of Steel Dynamics by 21.6% during the 1st 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 last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of Steel Dynamics during the 2nd quarter worth about $24,670,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on STLD shares. BMO Capital Markets boosted their price objective on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. UBS Group raised 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 report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley cut their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Finally, Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $144.29.

Insider Transactions at Steel Dynamics

In other news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the transaction, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the sale, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the sale, the vice president now directly owns 17,100 shares of the company’s stock, valued at $2,306,106. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by insiders.

Steel Dynamics Price Performance

Shares of STLD stock opened at $147.95 on Friday. The stock has a 50 day moving average of $125.55 and a two-hundred day moving average of $126.72. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a market capitalization of $22.83 billion, a P/E ratio of 13.39 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the prior year, the firm posted $3.47 EPS. Steel Dynamics’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, equities analysts expect that Steel Dynamics, Inc. will post 10.22 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.46 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.24%. Steel Dynamics’s payout ratio is presently 16.65%.

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.