Daiwa Securities Group Inc. Has $4.93 Million Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Daiwa Securities Group Inc. lifted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,073 shares of the basic materials company’s stock after purchasing an additional 653 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Steel Dynamics were worth $4,926,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of STLD. Pacer Advisors Inc. increased its position in Steel Dynamics by 7.0% during the second quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock worth $276,891,000 after buying an additional 140,042 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Steel Dynamics by 1.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock worth $228,999,000 after acquiring an additional 22,390 shares in the last quarter. LSV Asset Management increased its holdings in shares of Steel Dynamics by 3.9% during the 2nd quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock valued at $182,604,000 after acquiring an additional 53,532 shares during the last quarter. AustralianSuper Pty Ltd raised its stake in shares of Steel Dynamics by 1.8% in the 2nd quarter. AustralianSuper Pty Ltd now owns 592,255 shares of the basic materials company’s stock valued at $76,697,000 after acquiring an additional 10,701 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ lifted its holdings in Steel Dynamics by 65.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock worth $74,064,000 after purchasing an additional 225,832 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on STLD shares. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday, October 18th. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. BMO Capital Markets raised their price target on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, Morgan Stanley cut their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and a consensus target price of $144.29.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $143.63 on Wednesday. The firm’s 50-day moving average is $132.92 and its 200-day moving average is $127.51. The company has a market cap of $21.87 billion, a price-to-earnings ratio of 13.00 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.47 earnings per share. Equities research analysts anticipate that Steel Dynamics, Inc. will post 10.1 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s payout ratio is 16.65%.

Insider Activity

In related news, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the transaction, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. This trade represents a 10.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Chad Bickford sold 2,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the sale, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,591 shares of company stock worth $3,885,938. Corporate insiders own 6.00% of the company’s stock.

Steel Dynamics Profile

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.