Tokio Marine Asset Management Co. Ltd. Buys 285 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Tokio Marine Asset Management Co. Ltd. raised its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,209 shares of the basic materials company’s stock after acquiring an additional 285 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Steel Dynamics were worth $594,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Holocene Advisors LP raised its holdings in shares of Steel Dynamics by 85.8% in the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock valued at $289,400,000 after buying an additional 1,060,007 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Steel Dynamics by 6.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock valued at $194,933,000 after buying an additional 96,122 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after buying an additional 253,802 shares during the last quarter. Lord Abbett & CO. LLC raised its holdings in shares of Steel Dynamics by 116.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock valued at $128,434,000 after buying an additional 548,086 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Steel Dynamics by 21.8% in the third quarter. Barclays PLC now owns 448,942 shares of the basic materials company’s stock valued at $56,603,000 after buying an additional 80,262 shares during the last quarter. 82.41% of the stock is owned by institutional investors.

Insider Activity at Steel Dynamics

In related news, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares in the company, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the transaction, the senior vice president now directly owns 21,101 shares of the company’s stock, valued at approximately $2,927,763.75. This trade represents a 8.66 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by insiders.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $126.38 on Wednesday. The firm has a market capitalization of $19.24 billion, a P/E ratio of 12.90 and a beta of 1.35. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. The business has a 50-day moving average of $125.04 and a 200-day moving average of $126.24. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same period last year, the business earned $2.61 EPS. On average, equities analysts anticipate that Steel Dynamics, Inc. will post 8.9 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a $0.46 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.46%. Steel Dynamics’s dividend payout ratio is presently 18.78%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their price target on Steel Dynamics from $131.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday. BMO Capital Markets boosted their price objective on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Citigroup dropped their price objective on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. UBS Group reissued a “neutral” rating and set a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Finally, StockNews.com cut Steel Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $145.13.

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.