Artemis Investment Management LLP Acquires Shares of 38,995 Steel Dynamics, Inc. (NASDAQ:STLD)

Artemis Investment Management LLP purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 38,995 shares of the basic materials company's stock, valued at approximately $4,877,000.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in Steel Dynamics by 8.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company's stock valued at $642,033,000 after purchasing an additional 451,630 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Steel Dynamics by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 3,688,494 shares of the basic materials company's stock worth $419,697,000 after acquiring an additional 30,350 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Steel Dynamics by 29.4% during the 4th quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company's stock worth $409,816,000 after purchasing an additional 815,629 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Steel Dynamics by 14.1% during the 4th quarter. First Trust Advisors LP now owns 3,179,062 shares of the basic materials company's stock worth $362,636,000 after purchasing an additional 393,516 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Steel Dynamics during the 4th quarter worth about $336,426,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Trading Down 0.2%

STLD stock traded down $0.29 during midday trading on Friday, hitting $131.21. 1,875,563 shares of the company's stock were exchanged, compared to its average volume of 1,531,980. The stock's fifty day moving average price is $130.23 and its 200-day moving average price is $125.97. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The company has a market cap of $19.48 billion, a PE ratio of 17.33, a price-to-earnings-growth ratio of 1.01 and a beta of 1.38. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.38 and a current ratio of 2.74.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.04. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.17 billion. Steel Dynamics had a return on equity of 13.26% and a net margin of 6.80%. During the same quarter last year, the business posted $3.67 EPS. Research analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Monday, June 30th. Steel Dynamics's dividend payout ratio is currently 26.42%.

Analysts Set New Price Targets

STLD has been the subject of several recent research reports. UBS Group raised Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price target for the company in a report on Monday, March 24th. Morgan Stanley increased 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. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $135.00 to $138.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. BMO Capital Markets upgraded Steel Dynamics from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $135.00 to $145.00 in a research report on Monday, March 31st. Finally, Wall Street Zen lowered Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Steel Dynamics currently has a consensus rating of "Moderate Buy" and an average price target of $148.00.

Insiders Place Their Bets

In other news, Director Gabriel Shaheen sold 1,254 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the completion of the sale, the director now owns 81,812 shares in the company, valued at $10,971,807.32. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Miguel Alvarez sold 7,495 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total value of $1,013,773.70. Following the sale, the senior vice president now owns 125,319 shares of the company's stock, valued at approximately $16,950,647.94. This represents a 5.64% decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.30% of the company's stock.

Steel Dynamics Profile

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.