Sei Investments Co. Has $22.62 Million Stock Holdings in Steel Dynamics, Inc. $STLD

Sei Investments Co. boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 6.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 125,648 shares of the basic materials company’s stock after purchasing an additional 7,917 shares during the period. Sei Investments Co.’s holdings in Steel Dynamics were worth $22,617,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Life Cycle Investment Partners Ltd acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at $586,702,000. Norges Bank bought a new stake in shares of Steel Dynamics in the 4th quarter worth about $564,590,000. Boston Partners increased its position in shares of Steel Dynamics by 147.9% during the 4th quarter. Boston Partners now owns 1,793,630 shares of the basic materials company’s stock worth $303,970,000 after purchasing an additional 1,070,042 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Steel Dynamics by 56,088.1% during the 1st quarter. Bessemer Group Inc. now owns 542,215 shares of the basic materials company’s stock worth $97,598,000 after purchasing an additional 541,250 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Steel Dynamics by 92.4% during the 4th quarter. Hsbc Holdings PLC now owns 1,030,448 shares of the basic materials company’s stock worth $174,609,000 after purchasing an additional 494,828 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Trading Up 3.8%

STLD opened at $259.74 on Wednesday. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $37.59 billion, a PE ratio of 23.55, a PEG ratio of 0.47 and a beta of 1.53. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $288.74. The firm has a 50-day moving average price of $247.52 and a two-hundred day moving average price of $212.59.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, topping analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The company had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $5.56 billion. During the same period in the previous year, the firm posted $2.01 earnings per share. The company’s revenue was up 33.4% on a year-over-year basis. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 17.16 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were given a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, June 30th. Steel Dynamics’s payout ratio is 19.22%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $256.00 to $260.00 and gave the company a “neutral” rating in a research report on Wednesday, July 22nd. Bank of America dropped their price objective on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Wells Fargo & Company cut their target price on shares of Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. BMO Capital Markets boosted their target price on Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Finally, Barclays increased their price target on Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $237.36.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,300 shares of Steel Dynamics stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the sale, the senior vice president directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP James Stanley Anderson sold 10,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the sale, the senior vice president owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their position. The SEC filing for this sale provides additional information. 6.60% of the stock is currently owned by corporate insiders.

Steel Dynamics Company 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.