Steel Dynamics, Inc. $STLD Shares Acquired by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 541.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,010 shares of the basic materials company’s stock after purchasing an additional 10,981 shares during the period. TD Waterhouse Canada Inc.’s holdings in Steel Dynamics were worth $2,887,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of STLD. Meeder Asset Management Inc. acquired a new stake in Steel Dynamics during the 2nd quarter worth about $26,000. Prosperity Bancshares Inc purchased a new position in shares of Steel Dynamics in the fourth quarter worth approximately $25,000. Caitlin John LLC acquired a new stake in shares of Steel Dynamics during the second quarter valued at approximately $35,000. MV Capital Management Inc. purchased a new stake in shares of Steel Dynamics in the 4th quarter valued at approximately $27,000. Finally, Cedar Mountain Advisors LLC acquired a new position in Steel Dynamics in the 1st quarter worth approximately $31,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $242.06 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45. Steel Dynamics, Inc. has a one year low of $129.41 and a one year high of $288.74. The business’s 50-day moving average price is $241.62 and its two-hundred day moving average price is $225.62. The company has a market capitalization of $34.69 billion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 0.46 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates of $3.63 by $0.06. The company had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The business’s quarterly revenue was up 33.4% on a year-over-year basis. During the same period last year, the business earned $2.01 EPS. Analysts anticipate that Steel Dynamics, Inc. will post 17.16 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be paid a $0.53 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. Steel Dynamics’s payout ratio is 19.22%.

Analysts Set New Price Targets

Several analysts have issued reports on STLD shares. UBS Group boosted their target price on shares of Steel Dynamics from $165.00 to $276.00 and gave the company a “neutral” rating in a research note on Monday, August 10th. Barclays upped their price target on Steel Dynamics from $270.00 to $272.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Morgan Stanley decreased their price objective on Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $256.00 to $260.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Finally, KeyCorp reiterated an “overweight” rating on shares of Steel Dynamics in a report on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $257.27.

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.