Bank of Montreal Can Has $55.15 Million Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Bank of Montreal Can boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 36.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 416,659 shares of the basic materials company’s stock after acquiring an additional 112,240 shares during the period. Bank of Montreal Can’s holdings in Steel Dynamics were worth $55,149,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in STLD. Lombard Odier Asset Management Europe Ltd boosted its stake in shares of Steel Dynamics by 27.2% in the 2nd quarter. Lombard Odier Asset Management Europe Ltd now owns 68,864 shares of the basic materials company’s stock valued at $8,918,000 after purchasing an additional 14,707 shares during the last quarter. Public Sector Pension Investment Board boosted its position in Steel Dynamics by 59.4% during the second quarter. Public Sector Pension Investment Board now owns 5,295 shares of the basic materials company’s stock valued at $686,000 after acquiring an additional 1,973 shares during the last quarter. Fidelis Capital Partners LLC grew its holdings in Steel Dynamics by 13.2% during the 2nd quarter. Fidelis Capital Partners LLC now owns 2,976 shares of the basic materials company’s stock worth $355,000 after acquiring an additional 348 shares during the period. 1832 Asset Management L.P. raised its position in shares of Steel Dynamics by 3.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 21,250 shares of the basic materials company’s stock worth $2,752,000 after acquiring an additional 621 shares in the last quarter. Finally, Frank Rimerman Advisors LLC acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at about $210,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on STLD. Morgan Stanley decreased their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. Bank of America lowered their price objective on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. BMO Capital Markets reduced their price target on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a report on Tuesday, September 17th. JPMorgan Chase & Co. raised shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $120.00 to $131.00 in a research note on Monday, September 9th. Finally, UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics currently has a consensus rating of “Hold” and a consensus price target of $141.29.

Steel Dynamics Trading Down 1.1 %

NASDAQ:STLD opened at $123.34 on Thursday. 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 $119.60 and a 200-day moving average of $128.84. The company has a market cap of $19.38 billion, a PE ratio of 8.47 and a beta of 1.32. Steel Dynamics, Inc. has a one year low of $98.25 and a one year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last issued 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. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.81 EPS. As a group, equities research analysts expect that Steel Dynamics, Inc. will post 10.32 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a $0.46 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.49%. Steel Dynamics’s payout ratio is 12.64%.

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.