United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Has $576,000 Stake in Steel Dynamics, Inc. $STLD

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund grew its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 28.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,500 shares of the basic materials company’s stock after buying an additional 1,000 shares during the period. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund’s holdings in Steel Dynamics were worth $576,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its position in Steel Dynamics by 4.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 13,103 shares of the basic materials company’s stock worth $1,677,000 after acquiring an additional 527 shares during the last quarter. XTX Topco Ltd lifted its position in Steel Dynamics by 142.4% in the second quarter. XTX Topco Ltd now owns 15,322 shares of the basic materials company’s stock worth $1,961,000 after purchasing an additional 9,002 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in Steel Dynamics by 6.0% during the second quarter. Steward Partners Investment Advisory LLC now owns 37,130 shares of the basic materials company’s stock worth $4,753,000 after buying an additional 2,114 shares in the last quarter. Global Retirement Partners LLC acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at $419,000. Finally, Prudential Financial Inc. lifted its holdings in shares of Steel Dynamics by 8.3% during the 2nd quarter. Prudential Financial Inc. now owns 94,328 shares of the basic materials company’s stock worth $12,075,000 after acquiring an additional 7,192 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Miguel Alvarez sold 8,251 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the transaction, the senior vice president owned 117,068 shares of the company’s stock, valued at $19,057,499.72. The trade was a 6.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on STLD shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a research report on Tuesday. KeyCorp increased their target price on Steel Dynamics from $152.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. BMO Capital Markets boosted their price target on Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Morgan Stanley boosted their target price on shares of Steel Dynamics from $145.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $170.44.

Steel Dynamics Price Performance

Shares of STLD stock opened at $166.62 on Thursday. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $167.07. The firm has a market cap of $24.33 billion, a price-to-earnings ratio of 22.07, a PEG ratio of 1.39 and a beta of 1.45. The stock has a 50-day moving average price of $149.54 and a 200 day moving average price of $137.18.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.11. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. Steel Dynamics’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 earnings per share. Research analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Steel Dynamics’s dividend payout ratio is 26.49%.

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.