Mitsubishi UFJ Trust & Banking Corp Has $14.82 Million Position in Steel Dynamics, Inc. $STLD

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 30.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 87,477 shares of the basic materials company’s stock after selling 38,456 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Steel Dynamics were worth $14,823,000 as of its most recent filing with the SEC.

Several other institutional investors have also 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 buying an additional 618 shares in the last quarter. Acadian Asset Management LLC lifted its stake in Steel Dynamics by 82.7% during the first quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after purchasing an additional 1,578 shares during the last quarter. Jump Financial LLC bought a new stake in shares of Steel Dynamics during the 2nd quarter worth $1,019,000. Qube Research & Technologies Ltd acquired a new position in Steel Dynamics during the second quarter worth about $48,746,000. Finally, Sei Investments Co. increased its position in Steel Dynamics by 7.9% during the 2nd quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company’s stock worth $13,447,000 after purchasing an additional 7,712 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Insider Activity

In other Steel Dynamics news, SVP Miguel Alvarez sold 4,825 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the completion of the sale, the senior vice president directly owned 122,257 shares of the company’s stock, valued at approximately $27,578,734.06. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth W. Cornew sold 5,000 shares of Steel Dynamics stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the transaction, the director owned 31,299 shares in the company, valued at approximately $7,038,206.13. This trade represents a 13.77% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on STLD shares. Bank of America downgraded Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 target price for the company. in a research report on Thursday. Wells Fargo & Company upped their price objective on shares of Steel Dynamics from $207.00 to $235.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. BMO Capital Markets raised their price objective on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Morgan Stanley reaffirmed an “underperform” rating and issued a $190.00 price target on shares of Steel Dynamics in a research note on Tuesday, March 17th. Six analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $214.30.

Steel Dynamics Stock Up 1.9%

Steel Dynamics stock opened at $228.66 on Friday. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $32.98 billion, a P/E ratio of 24.46, a P/E/G ratio of 0.57 and a beta of 1.39. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $229.78. The firm has a 50 day moving average price of $190.61 and a 200-day moving average price of $176.78.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The business had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the business posted $1.44 EPS. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. As a group, equities analysts predict that Steel Dynamics, Inc. will post 14.34 EPS for the current year.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st were paid a dividend of $0.53 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s dividend payout ratio (DPR) is presently 22.67%.

Steel Dynamics Company Profile

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.