Fractal Investments LLC Trims Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Fractal Investments LLC decreased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 74.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,437 shares of the basic materials company’s stock after selling 16,235 shares during the quarter. Fractal Investments LLC’s holdings in Steel Dynamics were worth $642,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of STLD. Nordea Investment Management AB grew its position in Steel Dynamics by 1.1% during the fourth quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock valued at $118,787,000 after acquiring an additional 11,026 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Steel Dynamics in the fourth quarter worth $14,762,000. Barclays PLC raised its stake in shares of Steel Dynamics by 3.1% in the 3rd quarter. Barclays PLC now owns 363,518 shares of the basic materials company’s stock valued at $38,975,000 after acquiring an additional 10,942 shares during the period. AustralianSuper Pty Ltd lifted 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 valued at $60,808,000 after acquiring an additional 59,668 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Steel Dynamics by 0.8% in the 3rd quarter. Morgan Stanley now owns 2,612,430 shares of the basic materials company’s stock valued at $280,105,000 after purchasing an additional 19,833 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on STLD shares. Citigroup boosted their price objective on 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. raised their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. BMO Capital Markets boosted their price target on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, March 18th. Finally, UBS Group reduced their price target on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and an average target price of $121.17.

Steel Dynamics Stock Down 3.2 %

Shares of Steel Dynamics stock traded down $4.24 during trading on Wednesday, reaching $129.92. The company had a trading volume of 2,557,025 shares, compared to its average volume of 1,199,661. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91. Steel Dynamics, Inc. has a fifty-two week low of $90.55 and a fifty-two week high of $151.34. The firm’s fifty day moving average is $136.80 and its 200-day moving average is $121.97. The company has a market cap of $20.52 billion, a price-to-earnings ratio of 8.90 and a beta of 1.42.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.54 by $0.13. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same period in the previous year, the company earned $4.01 earnings per share. Steel Dynamics’s quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts anticipate that Steel Dynamics, Inc. will post 11.79 EPS for the current year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.42%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio is presently 12.61%.

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.