First Trust Advisors LP Increases Stock Holdings in Steel Dynamics, Inc. $STLD

First Trust Advisors LP increased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 18.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 185,155 shares of the basic materials company's stock after buying an additional 28,296 shares during the quarter. First Trust Advisors LP owned about 0.13% of Steel Dynamics worth $33,328,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its stake in shares of Steel Dynamics by 0.3% during the 4th quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company's stock valued at $613,926,000 after acquiring an additional 9,959 shares during the last quarter. Life Cycle Investment Partners Ltd purchased a new position in shares of Steel Dynamics in the 4th quarter worth $586,702,000. Norges Bank purchased a new position in shares of Steel Dynamics in the 4th quarter worth about $564,590,000. Robeco Institutional Asset Management B.V. lifted its stake in shares of Steel Dynamics by 3.7% in 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 in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Steel Dynamics by 6.3% during the 4th quarter. Invesco Ltd. now owns 1,965,092 shares of the basic materials company's stock worth $332,985,000 after purchasing an additional 116,379 shares during the period. Hedge funds and other institutional investors own 82.41% of the company's stock.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $259.74 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $288.74. The company has a market capitalization of $37.59 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 0.47 and a beta of 1.53. The business has a 50-day moving average of $247.52 and a 200-day moving average of $212.59.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.63 by $0.06. The business had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The company's revenue was up 33.4% on a year-over-year basis. During the same period last year, the business posted $2.01 EPS. On average, equities analysts anticipate that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were given a $0.53 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.8%. Steel Dynamics's dividend payout ratio (DPR) is 19.22%.

Wall Street Analysts Forecast Growth

STLD has been the subject of a number of research analyst reports. Morgan Stanley dropped their target price on shares of Steel Dynamics from $270.00 to $260.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 22nd. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an "outperform" rating in a research report on Wednesday, April 22nd. KeyCorp reiterated an "overweight" rating on shares of Steel Dynamics in a research note on Wednesday, July 22nd. Citigroup increased their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Finally, Wall Street Zen raised shares of Steel Dynamics from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $237.36.

Insider Buying and Selling

In other news, SVP Richard A. Poinsatte sold 2,300 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the transaction, the senior vice president directly owned 28,618 shares in the company, valued at approximately $6,699,759.98. This represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction on Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the sale, the senior vice president directly owned 102,837 shares in the company, valued at $27,632,301.90. This trade represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 6.60% of the company's stock.

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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