OMERS ADMINISTRATION Corp Sells 7,500 Shares of Steel Dynamics, Inc. $STLD

OMERS ADMINISTRATION Corp cut its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 38.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,899 shares of the basic materials company’s stock after selling 7,500 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Steel Dynamics were worth $1,523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STLD. Allworth Financial LP increased its holdings in Steel Dynamics by 119.3% during the second quarter. Allworth Financial LP now owns 11,012 shares of the basic materials company’s stock valued at $1,410,000 after buying an additional 5,991 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of Steel Dynamics by 21.9% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 88,558 shares of the basic materials company’s stock worth $11,336,000 after purchasing an additional 15,931 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Steel Dynamics by 1.2% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 163,399 shares of the basic materials company’s stock valued at $20,917,000 after purchasing an additional 1,954 shares in the last quarter. Nordea Investment Management AB grew its holdings in Steel Dynamics by 43.3% during the second quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock valued at $271,238,000 after purchasing an additional 630,935 shares during the period. Finally, Vise Technologies Inc. purchased a new stake in Steel Dynamics in the second quarter worth about $720,000. Institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling

In other news, SVP Miguel Alvarez sold 8,251 shares of the business’s stock in a transaction dated 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 sale, the senior vice president owned 117,068 shares in the company, valued at approximately $19,057,499.72. The trade was a 6.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.30% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $167.63 on Wednesday. The firm has a market capitalization of $24.48 billion, a PE ratio of 22.20, a PEG ratio of 1.39 and a beta of 1.46. The stock’s fifty day moving average is $151.84 and its 200 day moving average is $138.12. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $169.49. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.11.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. The company 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%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.05 EPS. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors 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 yield of 1.2%. Steel Dynamics’s dividend payout ratio is 26.49%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. UBS Group set a $165.00 target price on shares of Steel Dynamics in a report on Tuesday, November 4th. Wells Fargo & Company increased their price target on Steel Dynamics from $169.00 to $172.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. JPMorgan Chase & Co. increased their target price on Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. Jefferies Financial Group lifted their target price on Steel Dynamics from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Finally, Morgan Stanley upped their price target on Steel Dynamics from $145.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Steel Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $170.44.

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.