Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Free Report) by 42.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 258,007 shares of the basic materials company’s stock after buying an additional 76,574 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Steel Dynamics were worth $59,202,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Prosperity Bancshares Inc purchased a new position in shares of Steel Dynamics in the 4th quarter valued at $25,000. Meeder Asset Management Inc. acquired a new position in shares of Steel Dynamics during the 2nd quarter valued at $26,000. MV Capital Management Inc. purchased a new stake in Steel Dynamics during the 4th quarter worth $27,000. Cedar Mountain Advisors LLC purchased a new stake in Steel Dynamics during the 1st quarter worth $31,000. Finally, DV Equities LLC acquired a new stake in Steel Dynamics in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 82.41% of the company’s stock.
Insider Activity at Steel Dynamics
In related news, SVP James Stanley Anderson sold 10,000 shares of the stock in a transaction dated 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 transaction, the senior vice president owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. This represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.60% of the company’s stock.
Wall Street Analyst Weigh In
View Our Latest Research Report on Steel Dynamics
Steel Dynamics Stock Performance
Steel Dynamics stock opened at $228.68 on Monday. Steel Dynamics, Inc. has a 12-month low of $126.23 and a 12-month high of $288.74. 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 capitalization of $32.78 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 0.43 and a beta of 1.52. The firm’s fifty day moving average price is $245.06 and its 200 day moving average price is $222.52.
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 for the quarter, beating analysts’ consensus estimates of $3.63 by $0.06. The company had revenue of $6.09 billion during the quarter, compared to analysts’ expectations of $5.56 billion. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.01 EPS. On average, research analysts forecast that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.
Steel Dynamics Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be paid a $0.53 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. Steel Dynamics’s payout ratio is 19.22%.
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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