MUFG Securities EMEA plc Boosts Stock Holdings in Steel Dynamics, Inc. $STLD

MUFG Securities EMEA plc increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1,622.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,628 shares of the basic materials company’s stock after purchasing an additional 42,979 shares during the period. MUFG Securities EMEA plc’s holdings in Steel Dynamics were worth $7,732,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Life Cycle Investment Partners Ltd purchased a new position in Steel Dynamics during the fourth quarter worth about $586,702,000. Norges Bank purchased a new position in Steel Dynamics during the fourth quarter worth about $564,590,000. Robeco Institutional Asset Management B.V. raised its holdings in Steel Dynamics by 3.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock worth $340,289,000 after purchasing an additional 72,122 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Steel Dynamics by 1.0% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,046,791 shares of the basic materials company’s stock worth $145,953,000 after purchasing an additional 10,537 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Steel Dynamics by 34.7% during the second quarter. Bank of America Corp DE now owns 1,028,947 shares of the basic materials company’s stock worth $131,715,000 after purchasing an additional 264,827 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

STLD has been the subject of several analyst reports. Weiss Ratings raised shares of Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, April 29th. Citigroup increased their price target on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. BMO Capital Markets increased their price target on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. KeyCorp increased their price target on shares of Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Finally, Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $219.36.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, Director Kenneth W. Cornew sold 5,000 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total value of $1,124,350.00. Following the completion of the transaction, the director directly owned 31,299 shares of the company’s stock, valued at approximately $7,038,206.13. This trade represents a 13.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the completion of the sale, the senior vice president owned 122,257 shares in the company, valued at $27,578,734.06. This represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 12,125 shares of company stock valued at $2,751,227. Corporate insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $260.15 on Monday. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $263.09. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. The stock has a market cap of $37.65 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 0.55 and a beta of 1.50. The company has a 50-day moving average of $210.75 and a two-hundred day moving average of $188.75.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the business posted $1.44 earnings per share. The company’s quarterly revenue was up 19.1% on a year-over-year basis. On average, research analysts anticipate that Steel Dynamics, Inc. will post 14.77 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.8%. Steel Dynamics’s dividend payout ratio (DPR) is 22.67%.

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.