Adams Natural Resources Fund Inc. Acquires 50,274 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Adams Natural Resources Fund Inc. increased its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 401.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,800 shares of the basic materials company's stock after purchasing an additional 50,274 shares during the quarter. Steel Dynamics makes up 1.0% of Adams Natural Resources Fund Inc.'s portfolio, making the stock its 19th largest holding. Adams Natural Resources Fund Inc.'s holdings in Steel Dynamics were worth $7,855,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Forum Financial Management LP increased its position in shares of Steel Dynamics by 2.5% during the 4th quarter. Forum Financial Management LP now owns 3,113 shares of the basic materials company's stock worth $355,000 after purchasing an additional 75 shares in the last quarter. OneAscent Financial Services LLC grew its stake in Steel Dynamics by 2.2% during the fourth quarter. OneAscent Financial Services LLC now owns 4,605 shares of the basic materials company's stock worth $527,000 after buying an additional 101 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Steel Dynamics by 6.3% during the first quarter. Parallel Advisors LLC now owns 1,734 shares of the basic materials company's stock worth $217,000 after buying an additional 102 shares in the last quarter. Optas LLC increased its holdings in shares of Steel Dynamics by 7.1% during the first quarter. Optas LLC now owns 1,911 shares of the basic materials company's stock worth $239,000 after buying an additional 126 shares in the last quarter. Finally, Axxcess Wealth Management LLC raised its stake in shares of Steel Dynamics by 7.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 1,967 shares of the basic materials company's stock valued at $224,000 after acquiring an additional 128 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Insider Buying and Selling at Steel Dynamics

In related news, Director Gabriel Shaheen sold 1,254 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $134.11, for a total transaction of $168,173.94. Following the completion of the transaction, the director now owns 81,812 shares in the company, valued at approximately $10,971,807.32. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Miguel Alvarez sold 7,495 shares of the company's stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 125,319 shares of the company's stock, valued at $16,950,647.94. The trade was a 5.64% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wolfe Research upgraded Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research report on Thursday, February 27th. Wall Street Zen lowered Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. increased their target price on Steel Dynamics from $135.00 to $138.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. BMO Capital Markets raised Steel Dynamics from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $135.00 to $145.00 in a report on Monday, March 31st. Finally, 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 report on Monday, March 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Steel Dynamics has an average rating of "Moderate Buy" and an average target price of $148.00.

Steel Dynamics Trading Up 2.4%

Steel Dynamics stock traded up $3.02 during mid-day trading on Thursday, hitting $131.50. The stock had a trading volume of 1,251,933 shares, compared to its average volume of 1,532,229. The stock has a 50-day simple moving average of $129.70 and a two-hundred day simple moving average of $126.09. The company has a current ratio of 2.74, a quick ratio of 1.38 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $19.52 billion, a PE ratio of 17.37, a P/E/G ratio of 0.97 and a beta of 1.38. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) 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 company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.17 billion. During the same period in the prior year, the company posted $3.67 EPS. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Monday, June 30th. Steel Dynamics's dividend payout ratio is presently 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.