Robeco Institutional Asset Management B.V. Grows Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Robeco Institutional Asset Management B.V. lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 531.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,191,669 shares of the basic materials company’s stock after purchasing an additional 1,002,813 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Steel Dynamics were worth $149,054,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Grove Bank & Trust raised its position in Steel Dynamics by 194.7% during the 1st quarter. Grove Bank & Trust now owns 277 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 183 shares during the last quarter. IAG Wealth Partners LLC purchased a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $39,000. Investment Management Corp VA ADV bought a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $40,000. Avalon Trust Co bought a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $42,000. Finally, Park Square Financial Group LLC purchased a new stake in Steel Dynamics in the fourth quarter worth $45,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wolfe Research raised shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research report on Thursday, February 27th. BMO Capital Markets upgraded shares of Steel Dynamics from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $135.00 to $145.00 in a research report on Monday, March 31st. Wall Street Zen downgraded shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. Morgan Stanley lifted their price objective on Steel Dynamics from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. Finally, JPMorgan Chase & Co. increased 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Steel Dynamics has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Steel Dynamics Price Performance

Shares of STLD opened at $128.48 on Thursday. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $155.56. The firm’s 50-day simple moving average is $129.70 and its two-hundred day simple moving average is $126.09. The stock has a market cap of $19.07 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 0.97 and a beta of 1.38. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.38 and a current ratio of 2.74.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.04. Steel Dynamics had a return on equity of 13.26% and a net margin of 6.80%. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.17 billion. During the same quarter in the prior year, the business posted $3.67 EPS. Analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders 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 dividend yield of 1.56%. Steel Dynamics’s dividend payout ratio is currently 26.42%.

Insider Transactions at Steel Dynamics

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

Steel Dynamics Company 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.