Czech National Bank Grows Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Czech National Bank grew its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 29,232 shares of the basic materials company’s stock after purchasing an additional 1,085 shares during the period. Czech National Bank’s holdings in Steel Dynamics were worth $3,686,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in STLD. Price T Rowe Associates Inc. MD increased its stake in Steel Dynamics by 4.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock worth $534,295,000 after buying an additional 152,254 shares during the period. Pacer Advisors Inc. grew its stake in shares of Steel Dynamics by 7.0% during the second quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock valued at $276,891,000 after acquiring an additional 140,042 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Steel Dynamics by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock worth $228,999,000 after acquiring an additional 22,390 shares during the last quarter. LSV Asset Management lifted its stake in shares of Steel Dynamics by 3.9% in the second quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock worth $182,604,000 after acquiring an additional 53,532 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings 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 last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Up 1.1 %

Shares of NASDAQ:STLD opened at $129.86 on Friday. Steel Dynamics, Inc. has a 1-year low of $98.25 and a 1-year high of $151.34. The company’s fifty day moving average is $119.64 and its two-hundred day moving average is $128.05. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The stock has a market capitalization of $20.41 billion, a price-to-earnings ratio of 8.92 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the prior year, the business earned $4.81 earnings per share. Steel Dynamics’s quarterly revenue was down 8.8% on a year-over-year basis. Equities analysts anticipate that Steel Dynamics, Inc. will post 10.15 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.42%. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Analysts Set New Price Targets

Several research firms have issued reports on STLD. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. cut their price target on shares of Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating on the stock in a report on Wednesday. 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 report on Wednesday, September 18th. BMO Capital Markets boosted their target price on shares of Steel Dynamics from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Steel Dynamics presently has a consensus rating of “Hold” and a consensus price target of $142.86.

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.