Commonwealth Bank of Australia increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 16.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 26,340 shares of the basic materials company’s stock after buying an additional 3,683 shares during the quarter. Commonwealth Bank of Australia’s holdings in Steel Dynamics were worth $790,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in STLD. Oregon Public Employees Retirement Fund increased its holdings in Steel Dynamics by 2,996.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,061,799 shares of the basic materials company’s stock worth $135,000 after buying an additional 3,930,619 shares in the last quarter. Vanguard Group Inc increased its holdings in Steel Dynamics by 4.3% in the 3rd quarter. Vanguard Group Inc now owns 21,357,596 shares of the basic materials company’s stock worth $965,150,000 after buying an additional 882,061 shares in the last quarter. BlackRock Inc. increased its holdings in Steel Dynamics by 3.4% in the 4th quarter. BlackRock Inc. now owns 23,894,257 shares of the basic materials company’s stock worth $717,782,000 after buying an additional 777,025 shares in the last quarter. Prudential Financial Inc. increased its holdings in Steel Dynamics by 27.4% in the 4th quarter. Prudential Financial Inc. now owns 3,136,176 shares of the basic materials company’s stock worth $94,210,000 after buying an additional 674,304 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Steel Dynamics by 121.7% in the 3rd quarter. Legal & General Group Plc now owns 1,134,289 shares of the basic materials company’s stock worth $51,258,000 after buying an additional 622,666 shares in the last quarter. Institutional investors own 78.22% of the company’s stock.

Steel Dynamics stock opened at $35.12 on Friday. The stock has a market cap of $7.87 billion, a price-to-earnings ratio of 6.40, a PEG ratio of 0.73 and a beta of 1.40. Steel Dynamics, Inc. has a 52-week low of $28.91 and a 52-week high of $52.10. The company has a quick ratio of 2.13, a current ratio of 3.96 and a debt-to-equity ratio of 0.62.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, January 22nd. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.06. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.93 billion. Steel Dynamics had a return on equity of 35.44% and a net margin of 10.65%. The business’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.54 EPS. On average, sell-side analysts expect that Steel Dynamics, Inc. will post 4.13 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Stockholders of record on Sunday, March 31st will be given a dividend of $0.24 per share. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.19. This represents a $0.96 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Friday, March 29th. Steel Dynamics’s payout ratio is presently 13.66%.

Several equities research analysts recently commented on the company. BidaskClub downgraded Steel Dynamics from a “sell” rating to a “strong sell” rating in a report on Wednesday, November 28th. ValuEngine downgraded Steel Dynamics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 27th. Zacks Investment Research upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Cowen initiated coverage on Steel Dynamics in a research note on Tuesday, January 8th. They set a “market perform” rating and a $32.00 price target for the company. Finally, UBS Group set a $36.00 price target on Steel Dynamics and gave the company a “hold” rating in a research note on Monday, December 10th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $50.18.

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Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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