Thurston Springer Miller Herd & Titak Inc. Increases Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 274.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,171 shares of the basic materials company’s stock after buying an additional 858 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Steel Dynamics were worth $148,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in STLD. National Bank of Canada FI lifted its position in Steel Dynamics by 481.2% during the second quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock worth $42,461,000 after buying an additional 272,226 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in Steel Dynamics by 65.3% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock valued at $74,064,000 after purchasing an additional 225,832 shares during the period. Swedbank AB purchased a new stake in Steel Dynamics in the first quarter valued at $32,178,000. Acadian Asset Management LLC raised its position in Steel Dynamics by 21.6% in the first quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock valued at $168,550,000 after purchasing an additional 202,312 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Steel Dynamics in the second quarter valued at $24,670,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley reduced their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. BMO Capital Markets lifted their target price on Steel Dynamics from $127.00 to $130.00 and gave the company a “market perform” rating in a research report on Thursday, October 10th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. dropped their price objective on Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and an average price target of $142.86.

Steel Dynamics Trading Down 1.3 %

STLD opened at $128.46 on Wednesday. Steel Dynamics, Inc. has a 12 month low of $98.25 and a 12 month high of $151.34. The stock has a market capitalization of $20.19 billion, a price-to-earnings ratio of 8.82 and a beta of 1.31. 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 business has a fifty day moving average price of $119.93 and a 200 day moving average price of $127.53.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $4.43 billion. During the same period in the previous year, the firm posted $4.81 EPS. Steel Dynamics’s revenue for the quarter was down 8.8% on a year-over-year basis. Sell-side analysts expect that Steel Dynamics, Inc. will post 10.15 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.46 per share. The ex-dividend date was Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.43%. Steel Dynamics’s payout ratio is 12.64%.

Steel Dynamics Company 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.