Ethic Inc. Buys 6,695 Shares of Steel Dynamics, Inc. $STLD

Key Points

• Ethic Inc. increased its stake in Steel Dynamics by 56.5% in the fourth quarter, buying 6,695 additional shares and bringing its total holding to 18,548 shares worth about $3.14 million.
• Steel Dynamics shares were trading up 0.4% at $235.97, near their 52-week high of $243.73, with the company valued at roughly $34.03 billion.
• The company posted mixed quarterly results, missing EPS and revenue estimates slightly, while also announcing a quarterly dividend of $0.53 per share, payable July 10.

Ethic Inc. raised its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 56.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,548 shares of the basic materials company's stock after acquiring an additional 6,695 shares during the period. Ethic Inc.'s holdings in Steel Dynamics were worth $3,143,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in Steel Dynamics by 12.1% during the 3rd quarter. Nordea Investment Management AB now owns 2,340,480 shares of the basic materials company's stock valued at $322,518,000 after purchasing an additional 252,108 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Steel Dynamics by 3.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company's stock valued at $340,289,000 after purchasing an additional 72,122 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Steel Dynamics by 1.0% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,046,791 shares of the basic materials company's stock valued at $145,953,000 after purchasing an additional 10,537 shares during the last quarter. Bank of America Corp DE lifted its holdings in Steel Dynamics by 34.7% during the 2nd quarter. Bank of America Corp DE now owns 1,028,947 shares of the basic materials company's stock valued at $131,715,000 after purchasing an additional 264,827 shares during the last quarter. Finally, Boston Partners bought a new position in Steel Dynamics during the 3rd quarter valued at about $101,254,000. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Trading Up 0.4%

STLD stock opened at $235.97 on Tuesday. The company has a market cap of $34.03 billion, a P/E ratio of 25.24, a PEG ratio of 0.50 and a beta of 1.48. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $243.73. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $194.99 and a 200-day moving average of $180.39.

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

Steel Dynamics Dividend Announcement

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

Insider Activity

In other Steel Dynamics news, SVP Miguel Alvarez sold 4,825 shares of the company's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the completion of the sale, the senior vice president owned 122,257 shares in the company, valued at approximately $27,578,734.06. The trade was a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth W. Cornew sold 5,000 shares of the company's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the sale, the director owned 31,299 shares of the company's stock, valued at $7,038,206.13. The trade was a 13.77% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Jefferies Financial Group restated a "buy" rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Bank of America lowered 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. KeyCorp increased their price target on Steel Dynamics from $190.00 to $241.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 22nd. Citigroup increased their price target on Steel Dynamics from $180.00 to $255.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. increased their price target on Steel Dynamics from $192.00 to $205.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 14th. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $214.30.

Steel Dynamics Company Profile

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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