Ninety One UK Ltd Purchases Shares of 89,074 Steel Dynamics, Inc. (NASDAQ:STLD)

Ninety One UK Ltd bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 89,074 shares of the basic materials company's stock, valued at approximately $11,141,000. Ninety One UK Ltd owned 0.06% of Steel Dynamics as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp grew its stake in Steel Dynamics by 41.8% in the 4th quarter. Jones Financial Companies Lllp now owns 3,794 shares of the basic materials company's stock valued at $433,000 after buying an additional 1,119 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Steel Dynamics in the 4th quarter valued at about $10,555,000. Raymond James Financial Inc. acquired a new position in Steel Dynamics in the 4th quarter valued at about $16,495,000. Callan Family Office LLC acquired a new position in Steel Dynamics in the 4th quarter valued at about $269,000. Finally, PNC Financial Services Group Inc. grew its stake in Steel Dynamics by 5.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 21,347 shares of the basic materials company's stock valued at $2,435,000 after buying an additional 1,170 shares during the last quarter. 82.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, SVP Miguel Alvarez sold 7,495 shares of Steel Dynamics stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the transaction, the senior vice president owned 125,319 shares in the company, valued at approximately $16,950,647.94. The trade was a 5.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gabriel Shaheen sold 1,254 shares of Steel Dynamics stock in a transaction on Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the transaction, the director owned 81,812 shares in the company, valued at approximately $10,971,807.32. This trade represents a 1.51% decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on STLD. UBS Group upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price target on the stock in a research note on Monday, March 24th. Wall Street Zen lowered shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Morgan Stanley increased their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $135.00 to $138.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Finally, BMO Capital Markets upgraded shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $135.00 to $145.00 in a research report on Monday, March 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $148.00.

Steel Dynamics Price Performance

Shares of NASDAQ STLD traded down $2.30 during trading hours on Friday, hitting $135.07. 822,398 shares of the stock were exchanged, compared to its average volume of 1,535,037. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.38 and a current ratio of 2.74. The company has a market cap of $20.05 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.05 and a beta of 1.37. The company's fifty day simple moving average is $131.70 and its two-hundred day simple moving average is $126.99. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.04. Steel Dynamics had a net margin of 6.80% and a return on equity of 13.26%. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.17 billion. During the same quarter last year, the business posted $3.67 earnings per share. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Monday, June 30th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.48%. Steel Dynamics's dividend payout ratio is currently 26.42%.

Steel Dynamics Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.