ING Groep NV Invests $500,000 in Steel Dynamics, Inc. $STLD

ING Groep NV acquired a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,588 shares of the basic materials company’s stock, valued at approximately $500,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC raised its position in shares of Steel Dynamics by 307.5% in the first quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $102,000 after purchasing an additional 618 shares during the period. Acadian Asset Management LLC grew its stake in Steel Dynamics by 82.7% in the 1st quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock valued at $435,000 after buying an additional 1,578 shares during the last quarter. Blair William & Co. IL raised its holdings in Steel Dynamics by 5.8% in the 2nd quarter. Blair William & Co. IL now owns 1,813 shares of the basic materials company’s stock worth $232,000 after acquiring an additional 100 shares during the period. CWM LLC raised its holdings in Steel Dynamics by 176.0% in the 2nd quarter. CWM LLC now owns 22,994 shares of the basic materials company’s stock worth $2,943,000 after acquiring an additional 14,664 shares during the period. Finally, MGO One Seven LLC lifted its position in Steel Dynamics by 33.2% during the 2nd quarter. MGO One Seven LLC now owns 2,866 shares of the basic materials company’s stock worth $367,000 after acquiring an additional 714 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on STLD. BMO Capital Markets lifted their price objective on Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. Citigroup increased their price objective on Steel Dynamics from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Morgan Stanley reaffirmed an “equal weight” rating and set a $194.00 target price (up previously from $173.00) on shares of Steel Dynamics in a research report on Friday, January 9th. Finally, Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “strong-buy” rating in a report on Saturday, January 31st. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Steel Dynamics presently has a consensus rating of “Hold” and an average price target of $182.00.

Steel Dynamics Stock Performance

STLD opened at $191.68 on Friday. The stock’s 50 day simple moving average is $178.05 and its 200-day simple moving average is $155.23. The company has a current ratio of 3.06, a quick ratio of 1.29 and a debt-to-equity ratio of 0.48. The stock has a market cap of $27.99 billion, a PE ratio of 23.93, a P/E/G ratio of 0.52 and a beta of 1.46. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $208.47.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results 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. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The business’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.36 earnings per share. Sell-side analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

About Steel Dynamics

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.