Steel Dynamics, Inc. (NASDAQ:STLD) Shares Bought by Axa S.A.

Axa S.A. lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 409,634 shares of the basic materials company’s stock after acquiring an additional 5,316 shares during the quarter. Axa S.A.’s holdings in Steel Dynamics were worth $53,048,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. US Bancorp DE increased its stake in Steel Dynamics by 9.0% in the 4th quarter. US Bancorp DE now owns 20,879 shares of the basic materials company’s stock worth $2,466,000 after purchasing an additional 1,730 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Steel Dynamics by 32.4% during the fourth quarter. Orion Portfolio Solutions LLC now owns 8,416 shares of the basic materials company’s stock valued at $985,000 after acquiring an additional 2,061 shares during the period. Nomura Asset Management Co. Ltd. raised its holdings in shares of Steel Dynamics by 5.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 68,232 shares of the basic materials company’s stock valued at $8,058,000 after acquiring an additional 3,724 shares during the period. Parallel Advisors LLC lifted its position in shares of Steel Dynamics by 17.7% in the 4th quarter. Parallel Advisors LLC now owns 889 shares of the basic materials company’s stock valued at $105,000 after acquiring an additional 134 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its stake in Steel Dynamics by 127.0% in the 4th quarter. Edmond DE Rothschild Holding S.A. now owns 1,966 shares of the basic materials company’s stock worth $232,000 after purchasing an additional 1,100 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on STLD. JPMorgan Chase & Co. raised shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $120.00 to $131.00 in a research note on Monday, September 9th. Bank of America dropped their price target on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Morgan Stanley dropped their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Finally, BMO Capital Markets decreased 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. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $141.29.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $123.34 on Thursday. Steel Dynamics, Inc. has a fifty-two week low of $98.25 and a fifty-two week high of $151.34. The stock’s 50-day moving average is $119.60 and its two-hundred day moving average is $128.84. 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 market cap of $19.38 billion, a P/E ratio of 8.47 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD) last released 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 for the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The firm’s revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.81 earnings per share. Analysts predict that Steel Dynamics, Inc. will post 10.32 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued 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 dividend yield of 1.49%. Steel Dynamics’s dividend payout ratio is currently 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.