Adams Natural Resources Fund Inc. Has $1.60 Million Stake in Steel Dynamics, Inc. $STLD

Key Points

• Adams Natural Resources Fund Inc. reduced its stake in Steel Dynamics, Inc. by 80.1%, holding 12,526 shares worth approximately $1.60 million at the end of the quarter.
• Several institutional investors increased their positions in Steel Dynamics, with Victory Capital Management raising its stake by 433.1%, reflecting positive investor sentiment.
• Analysts have set new price targets for Steel Dynamics, with BMO Capital Markets raising their target from $155.00 to $167.00, indicating a consensus of "Moderate Buy" ratings across eight analysts.

Adams Natural Resources Fund Inc. trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 80.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,526 shares of the basic materials company's stock after selling 50,274 shares during the quarter. Adams Natural Resources Fund Inc.'s holdings in Steel Dynamics were worth $1,603,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in shares of Steel Dynamics by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company's stock worth $883,854,000 after purchasing an additional 1,437,897 shares during the period. Nordea Investment Management AB raised its position in shares of Steel Dynamics by 43.3% during the second quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company's stock worth $271,238,000 after purchasing an additional 630,935 shares during the period. Victory Capital Management Inc. raised its position in shares of Steel Dynamics by 433.1% during the first quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company's stock worth $227,211,000 after purchasing an additional 1,475,767 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Steel Dynamics by 40.6% during 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 during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Steel Dynamics by 3.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,599,076 shares of the basic materials company's stock worth $200,012,000 after purchasing an additional 52,218 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analysts Set New Price Targets

STLD has been the subject of a number of analyst reports. BMO Capital Markets increased their price target on Steel Dynamics from $155.00 to $167.00 and gave the company an "outperform" rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $150.00 to $160.00 and gave the company a "neutral" rating in a research report on Monday, October 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Steel Dynamics in a research report on Wednesday, October 8th. UBS Group set a $158.00 price target on Steel Dynamics and gave the company a "buy" rating in a research report on Tuesday. Finally, Wells Fargo & Company increased their price target on Steel Dynamics from $143.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $153.33.

Steel Dynamics Trading Up 5.2%

Shares of Steel Dynamics stock opened at $153.82 on Wednesday. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $156.24. The firm has a market cap of $22.64 billion, a PE ratio of 20.37, a P/E/G ratio of 1.20 and a beta of 1.40. The stock has a fifty day moving average price of $136.53 and a 200-day moving average price of $131.11. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Monday, October 20th. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.11. Steel Dynamics had a return on equity of 12.93% and a net margin of 6.39%.The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same period last year, the firm posted $2.05 EPS. The business's revenue was up 11.2% compared to the same quarter last year. Equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.3%. Steel Dynamics's dividend payout ratio (DPR) is currently 29.15%.

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.

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