Steel Dynamics, Inc. (NASDAQ:STLD) Shares Purchased by PKO Investment Management Joint Stock Co

PKO Investment Management Joint Stock Co raised its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 34.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 6,700 shares of the basic materials company’s stock after purchasing an additional 1,700 shares during the period. PKO Investment Management Joint Stock Co’s holdings in Steel Dynamics were worth $838,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Forum Financial Management LP raised its holdings in Steel Dynamics by 2.5% in the fourth quarter. Forum Financial Management LP now owns 3,113 shares of the basic materials company’s stock valued at $355,000 after acquiring an additional 75 shares in the last quarter. OneAscent Financial Services LLC increased its position in shares of Steel Dynamics by 2.2% in the 4th quarter. OneAscent Financial Services LLC now owns 4,605 shares of the basic materials company’s stock valued at $527,000 after purchasing an additional 101 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Steel Dynamics by 6.3% in the 1st quarter. Parallel Advisors LLC now owns 1,734 shares of the basic materials company’s stock valued at $217,000 after purchasing an additional 102 shares during the last quarter. Optas LLC raised its holdings in shares of Steel Dynamics by 7.1% in the 1st quarter. Optas LLC now owns 1,911 shares of the basic materials company’s stock valued at $239,000 after purchasing an additional 126 shares in the last quarter. Finally, Axxcess Wealth Management LLC lifted its position in shares of Steel Dynamics by 7.0% during the 4th quarter. Axxcess Wealth Management LLC now owns 1,967 shares of the basic materials company’s stock worth $224,000 after purchasing an additional 128 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on STLD. Wolfe Research upgraded shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, February 27th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price objective for the company in a research report on Monday, March 24th. JPMorgan Chase & Co. raised their target price on Steel Dynamics from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. BMO Capital Markets upgraded Steel Dynamics from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $135.00 to $145.00 in a research note on Monday, March 31st. Finally, Wall Street Zen lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $147.44.

Steel Dynamics Trading Down 1.0%

STLD opened at $132.12 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $155.56. The business’s 50 day moving average is $128.38 and its two-hundred day moving average is $126.47. The firm has a market cap of $19.61 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.05 and a beta of 1.38.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.04. Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.17 billion. During the same period last year, the firm posted $3.67 earnings per share. On average, research analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be paid a $0.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.51%. Steel Dynamics’s dividend payout ratio is presently 26.42%.

Steel Dynamics announced that its Board of Directors has authorized a stock buyback plan on Monday, February 24th that permits the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, SVP Miguel Alvarez sold 7,495 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total value of $1,013,773.70. Following the transaction, the senior vice president now owns 125,319 shares of the company’s stock, valued at approximately $16,950,647.94. The trade was a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gabriel Shaheen sold 1,254 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $134.11, for a total value of $168,173.94. Following the sale, the director now owns 81,812 shares of the company’s stock, valued at $10,971,807.32. This trade represents a 1.51% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company’s stock.

About Steel Dynamics

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.