Steel Dynamics, Inc. $STLD Shares Purchased by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Steel Dynamics, Inc. by 18.5%, owning a total of 19,399 shares valued at approximately $2.43 million.
• Steel Dynamics reported $2.01 earnings per share for the last quarter, missing estimates by 4 cents, with revenues declining by 1.5% year over year.
• The company recently announced a quarterly dividend of $0.50 per share, with an ex-dividend date set for September 30th, representing a 1.5% dividend yield.

OMERS ADMINISTRATION Corp boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,399 shares of the basic materials company's stock after purchasing an additional 3,033 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Steel Dynamics were worth $2,426,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in Steel Dynamics by 433.1% during the first quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company's stock valued at $227,211,000 after buying an additional 1,475,767 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Steel Dynamics by 25.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company's stock valued at $883,854,000 after purchasing an additional 1,437,897 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Steel Dynamics by 531.0% in the first quarter. Robeco Institutional Asset Management B.V. now owns 1,191,669 shares of the basic materials company's stock worth $149,054,000 after purchasing an additional 1,002,813 shares during the last quarter. Nuveen LLC purchased a new stake in Steel Dynamics during the first quarter valued at $62,470,000. Finally, GAMMA Investing LLC lifted its position in Steel Dynamics by 18,398.4% during the first quarter. GAMMA Investing LLC now owns 447,661 shares of the basic materials company's stock valued at $55,993,000 after purchasing an additional 445,241 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company's stock.

Insider Activity

In other Steel Dynamics news, Director Gabriel Shaheen sold 1,254 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were 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 of the company's stock, valued at approximately $10,971,807.32. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Christopher A. Graham sold 12,000 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the sale, the senior vice president owned 66,738 shares of the company's stock, valued at approximately $8,456,371.98. This represents a 15.24% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is owned by corporate insiders.

Steel Dynamics Trading Up 0.0%

Steel Dynamics stock traded up $0.03 during trading hours on Wednesday, hitting $129.05. The company had a trading volume of 598,124 shares, compared to its average volume of 1,594,000. The firm has a market cap of $19.00 billion, a P/E ratio of 18.81, a P/E/G ratio of 1.06 and a beta of 1.40. The company has a 50-day moving average price of $129.39 and a two-hundred day moving average price of $128.17. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.05 by ($0.04). Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The firm had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter in the previous year, the firm posted $2.72 EPS. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. Steel Dynamics's dividend payout ratio is 29.15%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on STLD. JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Wells Fargo & Company raised Steel Dynamics to a "strong-buy" rating in a research note on Thursday, August 14th. Finally, Morgan Stanley raised their price target on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $148.70.

Steel Dynamics Company 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.