Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 2,699.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 153,347 shares of the basic materials company's stock after buying an additional 147,869 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.11% of Steel Dynamics worth $25,985,000 as of its most recent filing with the SEC.
Other large investors have also made changes to their positions in the company. Sound Income Strategies LLC boosted its holdings in Steel Dynamics by 1,500.0% during the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 150 shares in the last quarter. Torren Management LLC acquired a new stake in Steel Dynamics during the fourth quarter valued at approximately $34,000. Nvest Wealth Strategies Inc. acquired a new stake in Steel Dynamics during the fourth quarter valued at approximately $42,000. Eagle Bay Advisors LLC acquired a new stake in Steel Dynamics during the fourth quarter valued at approximately $45,000. Finally, Measured Wealth Private Client Group LLC acquired a new stake in Steel Dynamics during the third quarter valued at approximately $46,000. Institutional investors and hedge funds own 82.41% of the company's stock.
Insider Buying and Selling at Steel Dynamics
In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,300 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president directly owned 28,618 shares of the company's stock, valued at approximately $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James Stanley Anderson sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of the transaction, the senior vice president directly owned 102,837 shares in the company, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 22,125 shares of company stock valued at $5,438,227 in the last three months. Insiders own 6.60% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on STLD shares. KeyCorp lifted their price objective on Steel Dynamics from $190.00 to $241.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. Bank of America downgraded Steel Dynamics from a "buy" rating to a "neutral" rating and set a $250.00 price objective on the stock. in a report on Thursday, April 30th. BMO Capital Markets lifted their price objective on Steel Dynamics from $195.00 to $240.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. Wells Fargo & Company lifted their price objective on Steel Dynamics from $235.00 to $293.00 and gave the company an "overweight" rating in a report on Thursday, June 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $192.00 to $205.00 and gave the company a "neutral" rating in a report on Tuesday, April 14th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $224.64.
Read Our Latest Stock Analysis on STLD
Steel Dynamics Price Performance
STLD opened at $272.19 on Tuesday. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $288.74. 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 company's 50 day simple moving average is $232.58 and its 200-day simple moving average is $197.70. The stock has a market capitalization of $39.39 billion, a P/E ratio of 29.11, a price-to-earnings-growth ratio of 0.56 and a beta of 1.50.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last released 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). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the company earned $1.44 earnings per share. Steel Dynamics's revenue for the quarter was up 19.1% compared to the same quarter last year. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 15.85 earnings per share for the current fiscal year.
Steel Dynamics Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders 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 dividend on an annualized basis and a yield of 0.8%. Steel Dynamics's dividend payout ratio (DPR) is presently 22.67%.
Steel Dynamics Profile
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Free Report)
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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