abrdn plc Raises Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

abrdn plc grew its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 21.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 152,827 shares of the basic materials company’s stock after acquiring an additional 26,879 shares during the period. abrdn plc owned about 0.09% of Steel Dynamics worth $18,049,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of STLD. CVA Family Office LLC purchased a new position in Steel Dynamics during the 4th quarter valued at $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Steel Dynamics in the fourth quarter worth about $29,000. Exchange Traded Concepts LLC purchased a new stake in Steel Dynamics in the fourth quarter worth about $44,000. Denali Advisors LLC boosted its position in Steel Dynamics by 99.0% during the 4th quarter. Denali Advisors LLC now owns 406 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 202 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in shares of Steel Dynamics by 25.8% during the 4th quarter. Global Retirement Partners LLC now owns 478 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 98 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

STLD opened at $129.92 on Thursday. Steel Dynamics, Inc. has a 52-week low of $90.55 and a 52-week high of $151.34. The company’s 50-day simple moving average is $136.80 and its two-hundred day simple moving average is $121.97. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91. The stock has a market capitalization of $20.52 billion, a P/E ratio of 8.92 and a beta of 1.42.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.54 by $0.13. The firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a return on equity of 27.83% and a net margin of 12.89%. The business’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.01 EPS. As a group, analysts predict that Steel Dynamics, Inc. will post 11.79 EPS for the current year.

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were given a $0.46 dividend. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio is presently 12.64%.

Analysts Set New Price Targets

STLD has been the subject of a number of research analyst reports. BMO Capital Markets raised their target price on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. Citigroup raised their price objective on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. UBS Group reduced their target price on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. Finally, 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 report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics presently has a consensus rating of “Hold” and a consensus target price of $121.17.

Steel Dynamics Company 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.