American Century Companies Inc. Grows Position in Steel Dynamics, Inc. (NASDAQ:STLD)

American Century Companies Inc. grew its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 9.4% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 225,239 shares of the basic materials company’s stock after acquiring an additional 19,348 shares during the quarter. American Century Companies Inc.’s holdings in Steel Dynamics were worth $29,168,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of STLD. Jump Financial LLC purchased a new stake in Steel Dynamics during the fourth quarter worth approximately $271,000. Avantax Advisory Services Inc. boosted its position in Steel Dynamics by 9.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 3,101 shares of the basic materials company’s stock worth $366,000 after purchasing an additional 272 shares during the period. Janney Montgomery Scott LLC boosted its position in Steel Dynamics by 9.1% during the 4th quarter. Janney Montgomery Scott LLC now owns 18,934 shares of the basic materials company’s stock worth $2,236,000 after purchasing an additional 1,573 shares during the period. Independent Advisor Alliance increased its holdings in Steel Dynamics by 17.9% in the 4th quarter. Independent Advisor Alliance now owns 2,558 shares of the basic materials company’s stock valued at $302,000 after purchasing an additional 389 shares in the last quarter. Finally, Brown Advisory Inc. raised its position in Steel Dynamics by 11.0% in the fourth quarter. Brown Advisory Inc. now owns 5,112 shares of the basic materials company’s stock valued at $604,000 after purchasing an additional 507 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

STLD stock opened at $115.12 on Thursday. The stock’s 50 day moving average is $120.74 and its two-hundred day moving average is $129.24. Steel Dynamics, Inc. has a 52-week low of $98.03 and a 52-week high of $151.34. The company has a market capitalization of $18.09 billion, a PE ratio of 7.91 and a beta of 1.32. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The business had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the previous year, the firm earned $4.81 earnings per share. The business’s revenue was down 8.8% compared to the same quarter last year. Analysts predict that Steel Dynamics, Inc. will post 10.81 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.60%. Steel Dynamics’s payout ratio is 12.64%.

Analysts Set New Price Targets

STLD has been the subject of several analyst reports. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Bank of America decreased their price target on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. BMO Capital Markets lowered their price objective on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a research report on Tuesday. JPMorgan Chase & Co. raised shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $120.00 to $131.00 in a research report on Monday, September 9th. Finally, Morgan Stanley lowered their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $141.29.

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.