Dynamic Technology Lab Private Ltd Acquires New Shares in Steel Dynamics, Inc. $STLD

Key Points

• Dynamic Technology Lab Private Ltd acquired 6,217 shares of Steel Dynamics, Inc., valued at approximately $778,000, marking a significant investment in the company.
• Multiple institutional investors increased their stakes in Steel Dynamics, with Cary Street Partners raising their holdings by 493.9% in the first quarter.
• Steel Dynamics recently announced a quarterly dividend of $0.50 per share, resulting in an annualized yield of 1.5%, with a payout ratio of 29.15%.

Dynamic Technology Lab Private Ltd acquired a new position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,217 shares of the basic materials company's stock, valued at approximately $778,000.

Other institutional investors have also added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Steel Dynamics by 493.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 163 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Steel Dynamics during the first quarter valued at approximately $25,000. Zions Bancorporation National Association UT bought a new position in Steel Dynamics in the first quarter worth approximately $32,000. WPG Advisers LLC purchased a new stake in Steel Dynamics during the first quarter worth $32,000. Finally, Grove Bank & Trust boosted its position in Steel Dynamics by 194.7% during the 1st quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company's stock.

Analyst Upgrades and Downgrades

STLD has been the topic of a number of analyst reports. Wells Fargo & Company upgraded Steel Dynamics to a "strong-buy" rating in a report on Thursday, August 14th. Morgan Stanley raised their price objective on Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $148.70.

Steel Dynamics Trading Down 0.1%

Shares of NASDAQ:STLD opened at $134.54 on Tuesday. The business's 50-day moving average is $129.60 and its 200 day moving average is $128.03. 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, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56. The firm has a market capitalization of $19.81 billion, a P/E ratio of 19.61, a P/E/G ratio of 1.09 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share for the quarter, missing analysts' consensus estimates of $2.05 by ($0.04). Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The business had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter in the previous year, the firm posted $2.72 EPS. Steel Dynamics's revenue was down 1.5% on a year-over-year basis. On average, 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, October 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Steel Dynamics's payout ratio is currently 29.15%.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the firm's stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.

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