Denali Advisors LLC Buys 2,900 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Denali Advisors LLC grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 565.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,413 shares of the basic materials company’s stock after buying an additional 2,900 shares during the period. Denali Advisors LLC’s holdings in Steel Dynamics were worth $442,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Franklin Resources Inc. boosted its stake in Steel Dynamics by 12.0% during the 4th quarter. Franklin Resources Inc. now owns 344,569 shares of the basic materials company’s stock worth $40,694,000 after acquiring an additional 37,033 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of Steel Dynamics by 2.5% during the first quarter. Nordea Investment Management AB now owns 1,034,133 shares of the basic materials company’s stock worth $153,290,000 after purchasing an additional 25,280 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Steel Dynamics by 1.6% in the 4th 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 period. Schroder Investment Management Group increased its position in shares of Steel Dynamics by 15.3% in the 4th quarter. Schroder Investment Management Group now owns 743,697 shares of the basic materials company’s stock valued at $87,831,000 after buying an additional 98,764 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in Steel Dynamics by 1,498.4% during the 1st quarter. SG Americas Securities LLC now owns 29,730 shares of the basic materials company’s stock worth $4,407,000 after buying an additional 27,870 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. raised Steel Dynamics from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $120.00 to $131.00 in a research note on Monday, September 9th. Morgan Stanley increased their target price on Steel Dynamics from $134.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Bank of America reduced their price target on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Finally, BMO Capital Markets dropped their price objective on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating on the stock in a report on Tuesday. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $142.29.

Steel Dynamics Trading Up 3.1 %

Steel Dynamics stock opened at $114.49 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.35 and a quick ratio of 1.19. The firm has a 50-day moving average of $120.93 and a 200-day moving average of $129.38. The company has a market cap of $17.99 billion, a price-to-earnings ratio of 7.86 and a beta of 1.32. Steel Dynamics, Inc. has a one year low of $95.53 and a one year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last posted 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. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The firm had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period last year, the company earned $4.81 earnings per share. The business’s revenue was down 8.8% compared to the same quarter last year. On average, equities analysts expect that Steel Dynamics, Inc. will post 10.81 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Monday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is currently 12.64%.

About Steel Dynamics

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.