Militia Capital Management LLC acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 11,523 shares of the basic materials company's stock, valued at approximately $2,074,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Research Global Investors lifted 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 worth $613,926,000 after buying an additional 9,959 shares during the last quarter. Life Cycle Investment Partners Ltd bought a new stake in shares of Steel Dynamics during the fourth quarter worth approximately $586,702,000. Norges Bank bought a new stake in shares of Steel Dynamics during the fourth quarter worth approximately $564,590,000. Robeco Institutional Asset Management B.V. grew its position in shares of Steel Dynamics by 3.7% in the fourth 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. Finally, Invesco Ltd. grew its position in shares of Steel Dynamics by 6.3% in the fourth quarter. Invesco Ltd. now owns 1,965,092 shares of the basic materials company's stock valued at $332,985,000 after purchasing an additional 116,379 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.
Steel Dynamics Price Performance
Shares of NASDAQ STLD opened at $251.26 on Monday. The stock has a market capitalization of $36.01 billion, a P/E ratio of 22.78, a PEG ratio of 0.47 and a beta of 1.52. The stock's fifty day moving average is $248.64 and its 200 day moving average is $214.32. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $288.74. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, topping the consensus estimate 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 net margin of 7.83% and a return on equity of 18.12%. Steel Dynamics's revenue was up 33.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.01 earnings per share. Sell-side analysts forecast that Steel Dynamics, Inc. will post 17.16 earnings per share for the current fiscal year.
Steel Dynamics Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 30th. Steel Dynamics's dividend payout ratio is 19.22%.
Insider Buying and Selling
In related 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 sale, the senior vice president owned 102,837 shares in the company, valued at approximately $27,632,301.90. This trade represents a 8.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Richard A. Poinsatte sold 2,300 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the completion of the transaction, the senior vice president directly owned 28,618 shares in the company, valued at $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 6.60% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently weighed in on STLD. Weiss Ratings upgraded Steel Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, June 18th. KeyCorp restated an "overweight" rating on shares of Steel Dynamics in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $256.00 to $260.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 22nd. Morgan Stanley dropped their target price on Steel Dynamics from $270.00 to $260.00 and set an "equal weight" rating for the company in a report on Wednesday, July 22nd. Finally, Wells Fargo & Company reduced their target price on shares of Steel Dynamics from $291.00 to $275.00 and set an "overweight" rating for the company in a research report on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $249.00.
Get Our Latest Stock Analysis on STLD
Steel Dynamics Profile
(
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.
Further Reading
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