Franklin Resources Inc. Has $40.69 Million Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Franklin Resources Inc. increased its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 344,569 shares of the basic materials company's stock after buying an additional 37,033 shares during the quarter. Franklin Resources Inc. owned about 0.21% of Steel Dynamics worth $40,694,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. CVA Family Office LLC acquired a new stake in Steel Dynamics during the 4th quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Steel Dynamics during the 4th quarter valued at approximately $29,000. Lindbrook Capital LLC grew its stake in Steel Dynamics by 117.5% during the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 134 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Steel Dynamics during the 4th quarter valued at approximately $44,000. Finally, Denali Advisors LLC grew its stake 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 purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Stock Performance

Steel Dynamics stock traded down $0.23 during mid-day trading on Friday, hitting $133.34. 628,884 shares of the company's stock traded hands, compared to its average volume of 1,052,721. The firm has a 50 day moving average price of $138.76 and a 200 day moving average price of $126.42. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. The company has a market cap of $20.95 billion, a PE ratio of 9.16 and a beta of 1.47. Steel Dynamics, Inc. has a one year low of $90.55 and a one year high of $151.34.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The company had revenue of $4.69 billion for the quarter, compared to analysts' expectations of $4.74 billion. During the same period last year, the firm earned $4.01 EPS. The firm's revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities analysts forecast that Steel Dynamics, Inc. will post 12.44 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Friday, June 28th. Steel Dynamics's dividend payout ratio (DPR) is presently 12.64%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. BMO Capital Markets lifted their target price on Steel Dynamics from $110.00 to $120.00 and gave the stock a "market perform" rating in a research report on Monday, March 18th. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $100.00 to $118.00 and gave the stock an "underweight" rating in a research report on Tuesday, April 16th. Citigroup lifted their target price on Steel Dynamics from $130.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, March 13th. Finally, Jefferies Financial Group assumed coverage on Steel Dynamics in a research report on Monday, May 20th. They issued a "hold" rating and a $150.00 target price for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $125.29.

Insider Activity

In related news, SVP Christopher A. Graham sold 21,000 shares of Steel Dynamics stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the transaction, the senior vice president now directly owns 60,415 shares in the company, valued at approximately $8,265,376.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.00% of the stock is owned by insiders.

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.