LSV Asset Management Has $182.60 Million Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

LSV Asset Management boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,410,070 shares of the basic materials company’s stock after buying an additional 53,532 shares during the quarter. LSV Asset Management owned approximately 0.90% of Steel Dynamics worth $182,604,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Ballentine Partners LLC boosted its stake in Steel Dynamics by 46.1% in the 2nd quarter. Ballentine Partners LLC now owns 2,235 shares of the basic materials company’s stock valued at $289,000 after buying an additional 705 shares in the last quarter. Caprock Group LLC boosted its stake in Steel Dynamics by 158.8% in the 2nd quarter. Caprock Group LLC now owns 6,683 shares of the basic materials company’s stock valued at $869,000 after buying an additional 4,101 shares in the last quarter. Gallacher Capital Management LLC bought a new position in Steel Dynamics in the 2nd quarter valued at $295,000. Illinois Municipal Retirement Fund raised its position in Steel Dynamics by 19.8% in the 2nd quarter. Illinois Municipal Retirement Fund now owns 92,557 shares of the basic materials company’s stock valued at $11,986,000 after purchasing an additional 15,322 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its position in Steel Dynamics by 33.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Trading Down 0.3 %

Shares of Steel Dynamics stock traded down $0.32 during trading hours on Friday, hitting $111.00. The company’s stock had a trading volume of 1,481,999 shares, compared to its average volume of 1,031,944. The company has a market capitalization of $17.44 billion, a PE ratio of 7.62 and a beta of 1.32. 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 stock has a 50 day moving average of $122.90 and a 200 day moving average of $130.17. Steel Dynamics, Inc. has a 12 month low of $95.53 and a 12 month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last announced 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. The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The business’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period last year, the company posted $4.81 EPS. Analysts predict that Steel Dynamics, Inc. will post 10.74 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a $0.46 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.66%. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Wall Street Analysts Forecast Growth

Several brokerages 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 company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Bank of America cut 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. BMO Capital Markets cut their price objective on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research report on Tuesday, June 18th. Jefferies Financial Group started coverage on Steel Dynamics in a research report on Monday, May 20th. They set a “hold” rating and a $150.00 target price for the company. Finally, Morgan Stanley boosted their target price on Steel Dynamics from $134.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and an average target price of $141.86.

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.