Charles Schwab Investment Management Inc. Acquires 21,143 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Charles Schwab Investment Management Inc. increased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,354,525 shares of the basic materials company’s stock after acquiring an additional 21,143 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Steel Dynamics were worth $159,969,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Royal London Asset Management Ltd. lifted its position in Steel Dynamics by 0.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 3,745,326 shares of the basic materials company’s stock worth $401,574,000 after acquiring an additional 12,208 shares during the last quarter. Morgan Stanley boosted its stake in Steel Dynamics by 0.8% during the 3rd quarter. Morgan Stanley now owns 2,612,430 shares of the basic materials company’s stock valued at $280,105,000 after purchasing an additional 19,833 shares during the period. Northern Trust Corp grew its holdings in Steel Dynamics by 6.4% in the 3rd quarter. Northern Trust Corp now owns 2,024,978 shares of the basic materials company’s stock valued at $217,118,000 after buying an additional 122,507 shares during the last quarter. Ameriprise Financial Inc. increased its position in Steel Dynamics by 165.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock worth $212,447,000 after buying an additional 1,255,751 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Steel Dynamics by 1.1% in the fourth quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock valued at $118,787,000 after acquiring an additional 11,026 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

STLD has been the topic of a number of recent research reports. UBS Group decreased their target price on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. BMO Capital Markets increased their target price on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, March 18th. Finally, Citigroup boosted their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics has a consensus rating of “Hold” and an average target price of $121.17.

Steel Dynamics Stock Up 3.1 %

NASDAQ STLD opened at $134.84 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. The firm has a market cap of $21.30 billion, a PE ratio of 9.26 and a beta of 1.47. The stock’s 50 day simple moving average is $138.23 and its 200 day simple moving average is $124.00. Steel Dynamics, Inc. has a one year low of $90.55 and a one year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the company earned $4.01 EPS. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 12.76 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.36%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio (DPR) is presently 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.