Canada Post Corp Registered Pension Plan Acquires 4,835 Shares of Steel Dynamics, Inc. $STLD

Key Points

• Canada Post Corp Registered Pension Plan increased its stake in Steel Dynamics by 70.5% in the fourth quarter, buying 4,835 additional shares and bringing its total holding to 11,692 shares worth about $1.98 million.
• Steel Dynamics reported mixed quarterly results, with EPS of $2.78 slightly missing estimates and revenue of $5.20 billion below expectations, though revenue still rose 19.1% year over year.
• The company also declared a quarterly dividend of $0.53 per share, while analysts currently have a consensus rating of “Hold” with an average price target of $214.30.

Canada Post Corp Registered Pension Plan boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 70.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,692 shares of the basic materials company's stock after buying an additional 4,835 shares during the period. Canada Post Corp Registered Pension Plan's holdings in Steel Dynamics were worth $1,981,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in STLD. Boston Partners bought a new position in Steel Dynamics in the 3rd quarter worth approximately $101,254,000. Qube Research & Technologies Ltd bought a new position in Steel Dynamics in the 2nd quarter worth approximately $48,746,000. Caisse de depot et placement du Quebec increased its position in Steel Dynamics by 134.9% in the 3rd quarter. Caisse de depot et placement du Quebec now owns 493,290 shares of the basic materials company's stock worth $68,779,000 after buying an additional 283,300 shares during the period. AQR Capital Management LLC increased its position in Steel Dynamics by 79.1% in the 2nd quarter. AQR Capital Management LLC now owns 627,542 shares of the basic materials company's stock worth $80,332,000 after buying an additional 277,166 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its position in Steel Dynamics by 6,163.9% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 274,861 shares of the basic materials company's stock worth $38,324,000 after buying an additional 270,473 shares during the period. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Price Performance

Shares of STLD stock opened at $229.34 on Monday. The stock's fifty day simple moving average is $197.95 and its 200 day simple moving average is $182.67. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. The firm has a market cap of $33.19 billion, a price-to-earnings ratio of 24.53, a P/E/G ratio of 0.49 and a beta of 1.48. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $243.73.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. Steel Dynamics's quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 EPS. On average, analysts expect that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.9%. Steel Dynamics's payout ratio is currently 22.67%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on STLD shares. Bank of America downgraded Steel Dynamics from a "buy" rating to a "neutral" rating and set a $250.00 price target on the stock. in a research report on Thursday, April 30th. Weiss Ratings raised Steel Dynamics from a "hold (c)" rating to a "buy (b-)" rating in a report on Wednesday, April 29th. Morgan Stanley reissued an "underperform" rating and set a $190.00 price objective on shares of Steel Dynamics in a report on Tuesday, March 17th. JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $192.00 to $205.00 and gave the stock a "neutral" rating in a report on Tuesday, April 14th. Finally, Citigroup lifted their price objective on Steel Dynamics from $180.00 to $255.00 and gave the stock a "buy" rating in a report on Wednesday, April 22nd. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $214.30.

Insider Activity at Steel Dynamics

In related news, SVP Miguel Alvarez sold 4,825 shares of the business's stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total value of $1,088,423.50. Following the sale, the senior vice president owned 122,257 shares of the company's stock, valued at $27,578,734.06. The trade was a 3.80% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth W. Cornew sold 5,000 shares of the business's stock in a transaction 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 approximately $7,038,206.13. This represents a 13.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,125 shares of company stock valued at $2,751,227 in the last 90 days. 6.60% of the stock is owned by corporate insiders.

About Steel Dynamics

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.

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