Steel Dynamics, Inc. (STLD) Position Cut by Legg Mason Asset Management Japan Co. Ltd.

Legg Mason Asset Management Japan Co. Ltd. reduced its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,300 shares of the basic materials company’s stock after selling 1,200 shares during the period. Legg Mason Asset Management Japan Co. Ltd.’s holdings in Steel Dynamics were worth $761,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Brandywine Global Investment Management LLC grew its holdings in shares of Steel Dynamics by 6.8% in the fourth quarter. Brandywine Global Investment Management LLC now owns 269,660 shares of the basic materials company’s stock valued at $8,101,000 after purchasing an additional 17,219 shares in the last quarter. Caxton Associates LP acquired a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $2,290,000. Mackay Shields LLC acquired a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $1,750,000. Dana Investment Advisors Inc. grew its holdings in shares of Steel Dynamics by 7.5% in the fourth quarter. Dana Investment Advisors Inc. now owns 322,003 shares of the basic materials company’s stock valued at $9,673,000 after purchasing an additional 22,328 shares in the last quarter. Finally, CoreCommodity Management LLC acquired a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $62,000. Hedge funds and other institutional investors own 78.22% of the company’s stock.

Shares of Steel Dynamics stock opened at $35.12 on Friday. Steel Dynamics, Inc. has a 52-week low of $28.91 and a 52-week high of $52.10. The company has a quick ratio of 2.13, a current ratio of 3.96 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $7.87 billion, a P/E ratio of 6.40, a PEG ratio of 0.73 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, January 22nd. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Steel Dynamics had a net margin of 10.65% and a return on equity of 35.44%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was up 24.3% on a year-over-year basis. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 4.13 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Sunday, March 31st will be paid a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 29th. This represents a $0.96 dividend on an annualized basis and a yield of 2.73%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.19. Steel Dynamics’s payout ratio is currently 13.66%.

STLD has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, March 6th. BidaskClub upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. UBS Group set a $36.00 price objective on shares of Steel Dynamics and gave the company a “hold” rating in a report on Monday, December 10th. Cowen initiated coverage on shares of Steel Dynamics in a report on Tuesday, January 8th. They issued a “market perform” rating and a $32.00 price objective for the company. Finally, Credit Suisse Group upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 8th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the stock. Steel Dynamics currently has a consensus rating of “Buy” and a consensus price target of $50.18.

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Steel Dynamics Company Profile

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

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

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