Canada Pension Plan Investment Board Purchases 1,100 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Canada Pension Plan Investment Board lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 5.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,200 shares of the basic materials company’s stock after purchasing an additional 1,100 shares during the period. Canada Pension Plan Investment Board’s holdings in Steel Dynamics were worth $2,616,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC raised its stake in shares of Steel Dynamics by 291.8% in the second quarter. Intech Investment Management LLC now owns 123,812 shares of the basic materials company’s stock valued at $16,034,000 after acquiring an additional 92,208 shares during the period. Seven Eight Capital LP bought a new stake in shares of Steel Dynamics in the second quarter valued at about $2,099,000. Vanguard Personalized Indexing Management LLC lifted its position in shares of Steel Dynamics by 11.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,271 shares of the basic materials company’s stock worth $2,496,000 after purchasing an additional 1,902 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in Steel Dynamics by 46.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 67,503 shares of the basic materials company’s stock worth $8,976,000 after buying an additional 21,563 shares during the period. Finally, Denali Advisors LLC boosted its position in Steel Dynamics by 565.3% during the second quarter. Denali Advisors LLC now owns 3,413 shares of the basic materials company’s stock valued at $442,000 after purchasing an additional 2,900 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

STLD has been the subject of a number of recent analyst reports. Bank of America lowered their price objective on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Morgan Stanley decreased their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. 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, 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 equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $141.29.

Steel Dynamics Trading Up 1.5 %

Shares of Steel Dynamics stock opened at $125.24 on Friday. The firm has a fifty day moving average price of $119.52 and a 200 day moving average price of $128.82. The stock has a market cap of $19.68 billion, a PE ratio of 8.60 and a beta of 1.32. Steel Dynamics, Inc. has a 1 year low of $98.25 and a 1 year high of $151.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.35 and a quick ratio of 1.19.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.05. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. 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 business posted $4.81 EPS. The business’s revenue was down 8.8% compared to the same quarter last year. Equities research analysts predict that Steel Dynamics, Inc. will post 10.32 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced 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 is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.47%. Steel Dynamics’s dividend payout ratio (DPR) 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.