2,090 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Acquired by Mufg Securities Americas Inc.

Mufg Securities Americas Inc. bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 2,090 shares of the basic materials company’s stock, valued at approximately $238,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in Steel Dynamics by 8.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company’s stock worth $642,033,000 after purchasing an additional 451,630 shares during the last quarter. Geode Capital Management LLC raised its holdings in Steel Dynamics by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 3,688,494 shares of the basic materials company’s stock worth $419,697,000 after purchasing an additional 30,350 shares during the last quarter. Capital Research Global Investors raised its holdings in Steel Dynamics by 29.4% during the 4th quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company’s stock worth $409,816,000 after purchasing an additional 815,629 shares during the last quarter. First Trust Advisors LP raised its holdings in Steel Dynamics by 14.1% during the 4th quarter. First Trust Advisors LP now owns 3,179,062 shares of the basic materials company’s stock worth $362,636,000 after purchasing an additional 393,516 shares during the last quarter. Finally, Norges Bank bought a new position in Steel Dynamics during the 4th quarter worth approximately $336,426,000. Institutional investors own 82.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Morgan Stanley set a $140.00 price target on shares of Steel Dynamics and gave the stock an “overweight” rating in a report on Thursday, April 24th. KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research note on Tuesday, February 11th. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price target on the stock in a report on Monday, March 24th. BMO Capital Markets upgraded shares of Steel Dynamics from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $135.00 to $145.00 in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics has a consensus rating of “Moderate Buy” and an average target price of $147.44.

Steel Dynamics Stock Up 0.7%

Shares of STLD opened at $134.78 on Friday. The firm has a market cap of $20.01 billion, a P/E ratio of 13.75, a P/E/G ratio of 1.05 and a beta of 1.44. The stock has a 50 day simple moving average of $124.71 and a two-hundred day simple moving average of $128.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.40 by $0.04. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.17 billion. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the previous year, the business earned $3.67 earnings per share. On average, analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Monday, June 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 26.42%.

Steel Dynamics announced that its board has authorized a share repurchase plan on Monday, February 24th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the basic materials company to reacquire up to 7.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

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.