111 Capital Acquires 7,873 Shares of Steel Dynamics, Inc. $STLD

Key Points

• 111 Capital increased its holdings in Steel Dynamics, Inc. by 366.2%, acquiring an additional 7,873 shares, bringing their total to 10,023 shares worth approximately $1,283,000.
• Several investment analysts have raised their price targets for Steel Dynamics, with Wells Fargo boosting theirs to $150.00 and Morgan Stanley raising it to $145.00, indicating a consensus rating of "Moderate Buy."
• The company recently declared a quarterly dividend of $0.50 per share, resulting in an annualized dividend yield of 1.4% and a dividend payout ratio of 29.15%.

111 Capital increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 366.2% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,023 shares of the basic materials company's stock after buying an additional 7,873 shares during the period. 111 Capital's holdings in Steel Dynamics were worth $1,283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Ameritas Advisory Services LLC bought a new position in shares of Steel Dynamics in the 2nd quarter worth $60,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Steel Dynamics by 4.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,313 shares of the basic materials company's stock worth $2,472,000 after purchasing an additional 743 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Steel Dynamics by 40.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company's stock worth $214,541,000 after purchasing an additional 484,304 shares in the last quarter. Ninety One UK Ltd raised its holdings in Steel Dynamics by 0.8% in the second quarter. Ninety One UK Ltd now owns 89,761 shares of the basic materials company's stock worth $11,490,000 after purchasing an additional 687 shares in the last quarter. Finally, HB Wealth Management LLC raised its holdings in Steel Dynamics by 9.7% in the second quarter. HB Wealth Management LLC now owns 5,446 shares of the basic materials company's stock worth $697,000 after purchasing an additional 483 shares in the last quarter. Institutional investors own 82.41% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on STLD shares. Wells Fargo & Company boosted their price objective on shares of Steel Dynamics from $143.00 to $150.00 and gave the stock an "overweight" rating in a research note on Monday, September 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Steel Dynamics in a research report on Saturday, September 27th. Morgan Stanley upped their price target on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Finally, JPMorgan Chase & Co. upped their price target on Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $148.78.

Insiders Place Their Bets

In related news, SVP Christopher A. Graham sold 12,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total value of $1,520,520.00. Following the transaction, the senior vice president owned 66,738 shares in the company, valued at approximately $8,456,371.98. This represents a 15.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.30% of the company's stock.

Steel Dynamics Trading Up 0.5%

Shares of Steel Dynamics stock opened at $145.09 on Friday. The firm has a market capitalization of $21.36 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 1.17 and a beta of 1.40. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. The firm's 50 day simple moving average is $131.56 and its two-hundred day simple moving average is $129.32. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.05 by ($0.04). The firm had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The business's revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business earned $2.72 EPS. Analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. Steel Dynamics's dividend payout ratio is currently 29.15%.

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.

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