Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 68.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 71,541 shares of the basic materials company’s stock after purchasing an additional 29,125 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Steel Dynamics were worth $9,265,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Steel Dynamics by 4.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock valued at $534,295,000 after purchasing an additional 152,254 shares in the last quarter. Norges Bank acquired a new position in Steel Dynamics during the fourth quarter worth about $221,817,000. Charles Schwab Investment Management Inc. grew its holdings in Steel Dynamics by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,354,525 shares of the basic materials company’s stock worth $159,969,000 after acquiring an additional 21,143 shares during the period. Acadian Asset Management LLC grew its holdings in Steel Dynamics by 21.6% during the first quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock worth $168,550,000 after acquiring an additional 202,312 shares during the period. Finally, Nordea Investment Management AB grew its holdings in 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 acquiring an additional 25,280 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Jefferies Financial Group assumed coverage on Steel Dynamics in a report on Monday, May 20th. They set a “hold” rating and a $150.00 target price on the stock. Bank of America lowered their target price on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Morgan Stanley lifted their price target 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. BMO Capital Markets dropped their price target on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. lifted their price target on Steel Dynamics from $118.00 to $120.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Steel Dynamics presently has a consensus rating of “Hold” and a consensus price target of $138.14.

Steel Dynamics Trading Up 0.6 %

Shares of NASDAQ STLD opened at $119.51 on Friday. Steel Dynamics, Inc. has a one year low of $95.53 and a one year high of $151.34. The firm has a market capitalization of $18.44 billion, a PE ratio of 8.21 and a beta of 1.35. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $124.11 and a two-hundred day moving average price of $130.39.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping 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 analyst estimates of $4.43 billion. During the same period last year, the company posted $4.81 EPS. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, analysts predict that Steel Dynamics, Inc. will post 10.74 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.54%. Steel Dynamics’s payout ratio is presently 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.