AIA Group Ltd Has $340,000 Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

AIA Group Ltd lifted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 13.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,879 shares of the basic materials company’s stock after acquiring an additional 343 shares during the quarter. AIA Group Ltd’s holdings in Steel Dynamics were worth $340,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. BlackRock Inc. lifted its holdings in shares of Steel Dynamics by 3.0% during the first quarter. BlackRock Inc. now owns 17,595,650 shares of the basic materials company’s stock worth $1,989,364,000 after purchasing an additional 510,981 shares during the period. State Street Corp lifted its holdings in shares of Steel Dynamics by 9.5% during the first quarter. State Street Corp now owns 9,207,455 shares of the basic materials company’s stock worth $771,198,000 after purchasing an additional 800,656 shares during the period. Royal London Asset Management Ltd. lifted its holdings in shares of Steel Dynamics by 0.3% during the third quarter. Royal London Asset Management Ltd. now owns 3,745,326 shares of the basic materials company’s stock worth $401,574,000 after purchasing an additional 12,208 shares during the period. Morgan Stanley lifted its holdings in Steel Dynamics by 29.2% in the fourth quarter. Morgan Stanley now owns 3,034,652 shares of the basic materials company’s stock valued at $296,486,000 after buying an additional 684,975 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Steel Dynamics by 15.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,308,698 shares of the basic materials company’s stock valued at $225,560,000 after buying an additional 309,009 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

STLD has been the topic of several recent analyst reports. UBS Group dropped their target price on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday. Finally, Citigroup lifted their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and an average target price of $120.29.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $136.90 on Friday. The firm’s 50 day simple moving average is $136.21 and its 200 day simple moving average is $121.37. The company has a current ratio of 2.91, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $21.62 billion, a PE ratio of 9.38 and a beta of 1.42. Steel Dynamics, Inc. has a 1-year low of $90.55 and a 1-year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). The firm had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.22 billion. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The business’s revenue was down 12.3% on a year-over-year basis. During the same period last year, the company posted $4.37 EPS. As a group, analysts expect that Steel Dynamics, Inc. will post 11.79 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were issued a $0.46 dividend. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 27th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.34%. Steel Dynamics’s dividend payout ratio is presently 12.61%.

About Steel Dynamics

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.