Steel Dynamics, Inc. $STLD Shares Bought by Mirabella Financial Services LLP

Mirabella Financial Services LLP grew its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 135.8% during the third quarter, HoldingsChannel reports. The firm owned 41,756 shares of the basic materials company’s stock after acquiring an additional 24,046 shares during the period. Mirabella Financial Services LLP’s holdings in Steel Dynamics were worth $5,811,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new stake in Steel Dynamics in the 2nd quarter valued at $339,769,000. Boston Partners acquired a new position in shares of Steel Dynamics during the 3rd quarter valued at about $101,254,000. Qube Research & Technologies Ltd acquired a new position in shares of Steel Dynamics during the 2nd quarter valued at about $48,746,000. Caisse de depot et placement du Quebec grew its holdings in shares of Steel Dynamics by 134.9% in the third quarter. Caisse de depot et placement du Quebec now owns 493,290 shares of the basic materials company’s stock valued at $68,779,000 after purchasing an additional 283,300 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Steel Dynamics by 79.1% in the second quarter. AQR Capital Management LLC now owns 627,542 shares of the basic materials company’s stock valued at $80,332,000 after purchasing an additional 277,166 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $174.28 on Tuesday. The company’s 50 day simple moving average is $184.86 and its 200-day simple moving average is $164.56. The company has a market capitalization of $25.25 billion, a price-to-earnings ratio of 21.76, a price-to-earnings-growth ratio of 0.45 and a beta of 1.43. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $208.47. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.10. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.62 billion. During the same quarter last year, the company posted $1.36 EPS. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be issued a $0.53 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.12 annualized dividend and a dividend yield of 1.2%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s dividend payout ratio (DPR) is presently 24.97%.

Analyst Upgrades and Downgrades

STLD has been the topic of a number of analyst reports. Wall Street Zen downgraded shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. Jefferies Financial Group raised their price target on shares of Steel Dynamics from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Wells Fargo & Company lifted their price target on shares of Steel Dynamics from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 29th. Finally, KeyCorp reiterated an “overweight” rating and issued a $190.00 price objective on shares of Steel Dynamics in a research report on Wednesday, January 7th. Five equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $184.22.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.