Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 11.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,042 shares of the basic materials company’s stock after purchasing an additional 1,490 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Steel Dynamics were worth $1,470,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. First Trust Advisors LP boosted its holdings in Steel Dynamics by 183.6% in the first quarter. First Trust Advisors LP now owns 1,380,388 shares of the basic materials company’s stock valued at $115,166,000 after acquiring an additional 893,705 shares during the last quarter. State Street Corp grew its position in shares of Steel Dynamics by 9.5% during the 1st quarter. State Street Corp now owns 9,207,455 shares of the basic materials company’s stock worth $771,198,000 after buying an additional 800,656 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Steel Dynamics by 334.2% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 414,771 shares of the basic materials company’s stock worth $29,428,000 after buying an additional 319,245 shares during the last quarter. National Pension Service lifted its holdings in Steel Dynamics by 345.2% in the first quarter. National Pension Service now owns 370,213 shares of the basic materials company’s stock valued at $30,887,000 after buying an additional 287,050 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Steel Dynamics by 11.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,999,689 shares of the basic materials company’s stock valued at $141,879,000 after buying an additional 208,704 shares during the period. 79.54% of the stock is currently owned by institutional investors and hedge funds.

Shares of STLD opened at $103.43 on Friday. The stock has a 50 day simple moving average of $118.47 and a 200 day simple moving average of $104.26. Steel Dynamics, Inc. has a 52-week low of $62.44 and a 52-week high of $136.46. The company has a debt-to-equity ratio of 0.38, a quick ratio of 2.22 and a current ratio of 3.76. The firm has a market capitalization of $17.64 billion, a PE ratio of 4.97 and a beta of 1.49.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Shareholders of record on Friday, March 31st will be paid a $0.425 dividend. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $1.70 annualized dividend and a dividend yield of 1.64%. Steel Dynamics’s dividend payout ratio (DPR) is currently 8.18%.

Several brokerages have commented on STLD. Morgan Stanley upped their target price on shares of Steel Dynamics from $85.00 to $93.00 and gave the company an “equal weight” rating in a research report on Monday, January 30th. StockNews.com lowered Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Friday, March 24th. Credit Suisse Group boosted their target price on Steel Dynamics from $92.00 to $106.00 and gave the stock an “outperform” rating in a research report on Thursday, March 16th. The Goldman Sachs Group cut Steel Dynamics from a “buy” rating to a “neutral” rating and upped their price target for the company from $114.00 to $118.00 in a research note on Friday, January 27th. Finally, Bank of America lowered shares of Steel Dynamics from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $140.00 to $123.00 in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $109.38.

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Steel Dynamics, Inc engages in the manufacture of steel products and metal recycling. It operates through the following segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment consists of sheet products including hot roll, cold roll, and coated steel, long products including structural steel beams, pilings, and standard and premium grade rail, and steel finishing services such as turning, polishing, straightening, chamfering, threading, and precision saw-cutting.

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