Sanctuary Advisors LLC Has $5.24 Million Holdings in Steel Dynamics, Inc. $STLD

Key Points

• Sanctuary Advisors LLC boosted its stake in Steel Dynamics by 53.2% in the quarter to 30,920 shares valued at about $5.24 million, and overall institutional ownership stands at 82.41% with several large funds also increasing positions.
• Several analysts have raised price targets and issued upgrades, but the MarketBeat average rating remains "Hold" with a consensus target price of $210.33.
• In the most recent quarter Steel Dynamics reported $2.78 EPS (missed by $0.01) and $5.20 billion revenue (up 19.1% y/y but below estimates); meanwhile insiders sold shares recently and the company raised its quarterly dividend to $0.53 per share.

Sanctuary Advisors LLC lifted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 53.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,920 shares of the basic materials company's stock after acquiring an additional 10,736 shares during the quarter. Sanctuary Advisors LLC's holdings in Steel Dynamics were worth $5,239,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nordea Investment Management AB boosted its holdings in shares of Steel Dynamics by 12.1% in the 3rd quarter. Nordea Investment Management AB now owns 2,340,480 shares of the basic materials company's stock worth $322,518,000 after acquiring an additional 252,108 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings 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 acquiring an additional 72,122 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 acquiring an additional 10,537 shares in the last quarter. Bank of America Corp DE raised its position in 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 during the last quarter. Finally, Boston Partners bought a new position in Steel Dynamics in the 3rd quarter worth approximately $101,254,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STLD has been the subject of several research analyst reports. Jefferies Financial Group restated a "buy" rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Wall Street Zen upgraded shares of Steel Dynamics from a "hold" rating to a "buy" rating in a research report on Saturday, April 18th. KeyCorp boosted their price objective on shares of Steel Dynamics from $190.00 to $241.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 22nd. Citigroup boosted their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. Finally, BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 22nd. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $210.33.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, Director Kenneth W. Cornew sold 5,000 shares of the company's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the completion of the sale, the director owned 31,299 shares in the company, valued at approximately $7,038,206.13. The trade was a 13.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Miguel Alvarez sold 4,825 shares of the company's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the sale, the senior vice president owned 122,257 shares of the company's stock, valued at $27,578,734.06. The trade was a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 6.60% of the company's stock.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $224.37 on Thursday. The firm has a fifty day moving average of $189.85 and a two-hundred day moving average of $176.41. The stock has a market capitalization of $32.47 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 0.57 and a beta of 1.39. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $229.00. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The business's revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 EPS. As a group, equities research analysts predict that Steel Dynamics, Inc. will post 14.34 EPS for the current year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st were given 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 was Tuesday, March 31st. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.50. Steel Dynamics's dividend payout ratio is presently 22.67%.

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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