Magnus Financial Group LLC lifted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,299 shares of the basic materials company’s stock after purchasing an additional 400 shares during the period. Magnus Financial Group LLC’s holdings in Steel Dynamics were worth $328,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of STLD. 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 acquiring an additional 777,025 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 acquiring an additional 882,061 shares in the last quarter. Norges Bank purchased a new stake in Steel Dynamics in the 4th quarter worth approximately $146,724,000. Dimensional Fund Advisors LP increased its holdings in Steel Dynamics by 7.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,472,381 shares of the basic materials company’s stock worth $134,353,000 after acquiring an additional 309,961 shares in the last quarter. Finally, 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 acquiring an additional 3,930,619 shares in the last quarter. Hedge funds and other institutional investors own 83.69% of the company’s stock.

Shares of STLD stock traded down $0.05 on Friday, reaching $27.15. The company’s stock had a trading volume of 3,107,178 shares, compared to its average volume of 2,156,810. Steel Dynamics, Inc. has a 1 year low of $26.85 and a 1 year high of $51.69. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 4.02. The firm has a market cap of $6.03 billion, a PE ratio of 4.95, a price-to-earnings-growth ratio of 0.67 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Monday, April 22nd. The basic materials company reported $0.91 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.91. Steel Dynamics had a net margin of 10.26% and a return on equity of 33.56%. The firm had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the firm posted $0.96 earnings per share. Steel Dynamics’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts predict that Steel Dynamics, Inc. will post 3.78 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Sunday, June 30th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Thursday, June 27th. Steel Dynamics’s dividend payout ratio (DPR) is presently 17.49%.

STLD has been the subject of a number of research analyst reports. ValuEngine lowered shares of Steel Dynamics from a “sell” rating to a “strong sell” rating in a report on Monday, April 1st. BidaskClub lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a report on Saturday, March 9th. Citigroup set a $40.00 price objective on shares of Steel Dynamics and gave the company a “buy” rating in a report on Tuesday, April 23rd. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $35.50 to $47.00 in a report on Wednesday, May 8th. Finally, Macquarie set a $36.00 price objective on shares of Steel Dynamics and gave the company a “hold” rating in a report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $46.08.

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About Steel Dynamics

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

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

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