Sei Investments Co. boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD – Free Report) by 6.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 125,648 shares of the basic materials company’s stock after buying an additional 7,917 shares during the quarter. Sei Investments Co. owned approximately 0.09% of Steel Dynamics worth $22,617,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of STLD. Prosperity Bancshares Inc acquired a new stake in Steel Dynamics during the fourth quarter valued at $25,000. MV Capital Management Inc. acquired a new position in Steel Dynamics in the 4th quarter worth about $27,000. Sound Income Strategies LLC increased its position in Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 150 shares during the last quarter. Cedar Mountain Advisors LLC purchased a new stake in shares of Steel Dynamics during the 1st quarter worth about $31,000. Finally, DV Equities LLC purchased a new stake in shares of Steel Dynamics during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 82.41% of the company’s stock.
Analyst Ratings Changes
STLD has been the topic of several analyst reports. KeyCorp reissued an “overweight” rating on shares of Steel Dynamics in a research report on Wednesday, July 22nd. Morgan Stanley reduced their price target on Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. BMO Capital Markets upped their price target on Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Weiss Ratings raised Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Finally, Barclays increased their price objective on Steel Dynamics from $270.00 to $272.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $237.36.
Steel Dynamics Price Performance
Shares of Steel Dynamics stock opened at $259.74 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45. The company has a market cap of $37.59 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 0.47 and a beta of 1.53. The firm has a fifty day moving average price of $247.52 and a two-hundred day moving average price of $212.59. Steel Dynamics, Inc. has a fifty-two week low of $119.89 and a fifty-two week high of $288.74.
Steel Dynamics (NASDAQ:STLD – Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.63 by $0.06. The company had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $5.56 billion. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The business’s revenue was up 33.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.01 EPS. Analysts expect that Steel Dynamics, Inc. will post 17.16 EPS for the current year.
Steel Dynamics Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, June 30th. Steel Dynamics’s payout ratio is currently 19.22%.
Insider Activity at Steel Dynamics
In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the sale, the senior vice president owned 28,618 shares in the company, valued at approximately $6,699,759.98. This trade represents a 7.44% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James Stanley Anderson sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the sale, the senior vice president owned 102,837 shares of the company’s stock, valued at $27,632,301.90. This represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 6.60% of the company’s stock.
Steel Dynamics Profile
Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.
The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.
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