PBU The Pension Fund of Early Childhood & Youth Educators Invests $18.92 Million in Steel Dynamics, Inc. $STLD

Key Points

• PBU The Pension Fund of Early Childhood & Youth Educators disclosed a new fourth-quarter position in Steel Dynamics, buying 111,645 shares valued at about $18.92 million.
• Steel Dynamics reported quarterly earnings of $2.78 per share, just below estimates, on revenue of $5.20 billion, while revenue still rose 19.1% year over year. Analysts currently see the stock as a Moderate Buy with an average target price of $224.64.
• The company recently declared a quarterly dividend of $0.53 per share and announced insider selling, including shares sold by an SVP and a director over recent weeks. Shares were down 3.0% in the session, opening at $268.50.

PBU The Pension Fund of Early Childhood & Youth Educators acquired a new position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 111,645 shares of the basic materials company's stock, valued at approximately $18,918,000. PBU The Pension Fund of Early Childhood & Youth Educators owned approximately 0.08% of Steel Dynamics at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Life Cycle Investment Partners Ltd acquired a new stake in shares of Steel Dynamics in the 4th quarter worth $586,702,000. Norges Bank acquired a new stake in shares of Steel Dynamics in the 4th quarter worth $564,590,000. Robeco Institutional Asset Management B.V. boosted its position in shares of Steel Dynamics by 3.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company's stock worth $340,289,000 after purchasing an additional 72,122 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Steel Dynamics by 1.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,046,791 shares of the basic materials company's stock worth $145,953,000 after purchasing an additional 10,537 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Steel Dynamics by 34.7% in the 2nd quarter. Bank of America Corp DE now owns 1,028,947 shares of the basic materials company's stock worth $131,715,000 after purchasing an additional 264,827 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Insider Activity at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,300 shares of the business's stock in a transaction 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. The trade was a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kenneth W. Cornew sold 5,000 shares of the company's stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total value of $1,124,350.00. Following the completion of the sale, the director owned 31,299 shares in the company, valued at $7,038,206.13. The trade was a 13.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 12,125 shares of company stock worth $2,751,227 over the last three months. Company insiders own 6.60% of the company's stock.

Steel Dynamics Trading Down 3.0%

Shares of NASDAQ:STLD opened at $268.50 on Friday. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $280.49. The stock has a market cap of $38.86 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 0.59 and a beta of 1.50. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $220.99 and a 200-day moving average price of $192.55.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.39 billion. During the same quarter in the previous year, the business earned $1.44 earnings per share. The company's revenue for the quarter was up 19.1% compared to the same quarter last year. Equities analysts predict that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.8%. Steel Dynamics's payout ratio is currently 22.67%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on STLD shares. Bank of America cut Steel Dynamics from a "buy" rating to a "neutral" rating and set a $250.00 price objective for the company. in a research report on Thursday, April 30th. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $192.00 to $205.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 14th. Morgan Stanley reiterated an "underperform" rating and set a $190.00 price objective on shares of Steel Dynamics in a research note on Tuesday, March 17th. Jefferies Financial Group restated a "buy" rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Finally, Weiss Ratings upgraded Steel Dynamics from a "hold (c)" rating to a "buy (b-)" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, Steel Dynamics has a consensus rating of "Moderate Buy" and an average target price of $224.64.

About Steel Dynamics

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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