M. Kulyk & Associates LLC acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 4,078 shares of the basic materials company's stock, valued at approximately $936,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Strs Ohio boosted its stake in shares of Steel Dynamics by 7.3% during the 4th quarter. Strs Ohio now owns 153,878 shares of the basic materials company's stock worth $26,075,000 after buying an additional 10,519 shares during the last quarter. Canada Post Corp Registered Pension Plan boosted its stake in shares of Steel Dynamics by 70.5% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 11,692 shares of the basic materials company's stock worth $1,981,000 after acquiring an additional 4,835 shares during the period. Ethic Inc. boosted its position in Steel Dynamics by 56.5% during the fourth quarter. Ethic Inc. now owns 18,548 shares of the basic materials company's stock worth $3,143,000 after purchasing an additional 6,695 shares during the period. Sapient Capital LLC boosted its holdings in shares of Steel Dynamics by 34.6% during the 2nd quarter. Sapient Capital LLC now owns 447,664 shares of the basic materials company's stock worth $102,958,000 after buying an additional 115,080 shares during the period. Finally, M&T Bank Corp boosted its holdings in shares of Steel Dynamics by 372.2% during the 4th quarter. M&T Bank Corp now owns 34,898 shares of the basic materials company's stock worth $5,913,000 after buying an additional 27,508 shares during the period. Institutional investors and hedge funds own 82.41% of the company's stock.
Insider Buying and Selling
In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the 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 sale, the senior vice president owned 102,837 shares of the company's stock, valued at approximately $27,632,301.90. This represents a 8.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.60% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the stock. BMO Capital Markets increased their price target on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an "outperform" rating in a report on Wednesday, April 22nd. KeyCorp reaffirmed an "overweight" rating on shares of Steel Dynamics in a research report on Wednesday, July 22nd. The Goldman Sachs Group initiated coverage on Steel Dynamics in a research note on Wednesday, July 29th. They set a "buy" rating and a $300.00 target price on the stock. Weiss Ratings raised Steel Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, June 18th. Finally, UBS Group lifted their price target on shares of Steel Dynamics from $165.00 to $276.00 and gave the company a "neutral" rating in a research report on Monday, August 10th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Steel Dynamics presently has an average rating of "Moderate Buy" and an average price target of $259.09.
Read Our Latest Report on STLD
Steel Dynamics Price Performance
Shares of STLD stock opened at $249.81 on Wednesday. The business has a fifty day simple moving average of $248.10 and a 200 day simple moving average of $221.61. Steel Dynamics, Inc. has a twelve month low of $124.77 and a twelve month high of $288.74. The company has a quick ratio of 1.45, a current ratio of 3.18 and a debt-to-equity ratio of 0.45. The company has a market cap of $35.81 billion, a P/E ratio of 22.65, a P/E/G ratio of 0.48 and a beta of 1.52.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.63 by $0.06. The business had revenue of $6.09 billion during the quarter, compared to analysts' expectations of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The business's revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.01 EPS. On average, sell-side analysts forecast that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.
Steel Dynamics Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, September 30th. Steel Dynamics's payout ratio is 19.22%.
Steel Dynamics Company 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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