Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna Invests $607,000 in Steel Dynamics, Inc. $STLD

Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,582 shares of the basic materials company’s stock, valued at approximately $607,000.

A number of other institutional investors have also modified their holdings of the stock. Capital Research Global Investors increased its position in shares of Steel Dynamics by 0.3% during the fourth quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company’s stock worth $613,926,000 after acquiring an additional 9,959 shares during the period. Life Cycle Investment Partners Ltd purchased a new position in shares of Steel Dynamics during the fourth quarter worth approximately $586,702,000. Norges Bank purchased a new position in shares of Steel Dynamics during the fourth quarter worth approximately $564,590,000. Robeco Institutional Asset Management B.V. increased its position in shares of 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 acquiring an additional 72,122 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of 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 acquiring an additional 10,537 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STLD has been the topic of a number of research reports. Morgan Stanley reaffirmed an “underperform” rating and set a $190.00 target price on shares of Steel Dynamics in a research report on Tuesday, March 17th. Barclays began coverage on shares of Steel Dynamics in a research report on Thursday, May 21st. They set an “overweight” rating and a $270.00 target price on the stock. Bank of America downgraded shares of Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 price objective on the stock. in a research note on Thursday, April 30th. Wells Fargo & Company increased their price objective on shares of Steel Dynamics from $235.00 to $293.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, BMO Capital Markets increased their price objective on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.64.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, Director Kenneth W. Cornew sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director directly owned 31,299 shares in the company, valued at $7,038,206.13. This trade represents a 13.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the completion of the sale, the senior vice president owned 28,618 shares of the company’s stock, valued at approximately $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,125 shares of company stock worth $2,751,227 over the last three months. Corporate insiders own 6.60% of the company’s stock.

Steel Dynamics Price Performance

NASDAQ STLD opened at $268.50 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The firm’s 50 day moving average price is $220.99 and its 200-day moving average price is $192.55. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $280.49. The company has a market cap of $38.86 billion, a PE ratio of 28.72, a P/E/G ratio of 0.57 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data 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 business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the business posted $1.44 earnings per share. Steel Dynamics’s revenue for the quarter was up 19.1% on a year-over-year basis. Sell-side analysts forecast that Steel Dynamics, Inc. will post 14.77 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, June 30th. 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.