Osmosis Investment Management UK Ltd Trims Holdings in Steel Dynamics, Inc. $STLD

Key Points

• Osmosis Investment Management UK Ltd cut its Steel Dynamics stake by 44.2% in the second quarter, selling 24,150 shares and retaining 30,533 shares valued at approximately $7.0 million. Institutional investors collectively own 82.41% of the company.
• Steel Dynamics exceeded quarterly expectations, reporting $3.69 in earnings per share on $6.09 billion in revenue, with revenue rising 33.4% year over year. Analysts maintain a “Moderate Buy” consensus and an average price target of $259.09.
• The company declared a quarterly dividend of $0.53 per share, equivalent to an annualized $2.12 payout and a 0.9% yield. Separately, Senior Vice President James Stanley Anderson sold 10,000 shares worth $2.69 million.

Osmosis Investment Management UK Ltd trimmed its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 44.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,533 shares of the basic materials company's stock after selling 24,150 shares during the quarter. Osmosis Investment Management UK Ltd's holdings in Steel Dynamics were worth $7,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of STLD. NewEdge Advisors LLC increased its stake in shares of Steel Dynamics by 307.5% during the first quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company's stock valued at $102,000 after purchasing an additional 618 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Steel Dynamics by 82.7% in the 1st quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company's stock worth $435,000 after buying an additional 1,578 shares during the last quarter. Jump Financial LLC purchased a new position in Steel Dynamics during the second quarter valued at $1,019,000. Qube Research & Technologies Ltd bought a new stake in Steel Dynamics in the second quarter worth $48,746,000. Finally, Sei Investments Co. boosted its holdings in Steel Dynamics by 7.9% in the second quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company's stock worth $13,447,000 after acquiring an additional 7,712 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, 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 value 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 $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.60% of the stock is currently owned by company insiders.

Steel Dynamics Price Performance

STLD opened at $228.68 on Monday. The company's 50-day simple moving average is $245.06 and its two-hundred day simple moving average is $222.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18. The stock has a market capitalization of $32.78 billion, a P/E ratio of 20.73, a P/E/G ratio of 0.43 and a beta of 1.52. Steel Dynamics, Inc. has a 52-week low of $126.23 and a 52-week high of $288.74.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.63 by $0.06. The firm 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%. The firm's quarterly revenue was up 33.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.01 earnings per share. As a group, analysts predict that Steel Dynamics, Inc. will post 17.16 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Steel Dynamics's dividend payout ratio is presently 19.22%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STLD. UBS Group raised their price target on Steel Dynamics from $165.00 to $276.00 and gave the company a "neutral" rating in a report on Monday, August 10th. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $256.00 to $260.00 and gave the company a "neutral" rating in a research report on Wednesday, July 22nd. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research note on Wednesday, July 29th. They set a "buy" rating and a $300.00 price objective for the company. Bank of America decreased their target price on shares of Steel Dynamics from $280.00 to $260.00 and set a "neutral" rating for the company in a report on Thursday, July 9th. Finally, Barclays upped their target price on shares of Steel Dynamics from $270.00 to $272.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $259.09.

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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