Steel Dynamics, Inc. $STLD Shares Purchased by MUFG Securities EMEA plc

Key Points

• MUFG Securities EMEA plc sharply increased its stake in Steel Dynamics by 1,622.5% in the fourth quarter, ending with 45,628 shares worth about $7.73 million.
• Insider selling continued, with SVPs Miguel Alvarez and Richard A. Poinsatte both selling shares in recent months; insiders sold 12,125 shares total over the last three months.
• Steel Dynamics reported quarterly EPS of $2.78, just below expectations, while revenue rose 19.1% year over year; the company also declared a quarterly dividend of $0.53 per share.

MUFG Securities EMEA plc increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 1,622.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,628 shares of the basic materials company's stock after purchasing an additional 42,979 shares during the period. MUFG Securities EMEA plc's holdings in Steel Dynamics were worth $7,732,000 at the end of the most recent quarter.

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

Insider Activity

In other news, SVP Miguel Alvarez sold 4,825 shares of the company's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total value of $1,088,423.50. Following the completion of the sale, the senior vice president directly owned 122,257 shares of the company's stock, valued at approximately $27,578,734.06. This represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the company's stock in a transaction dated 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 sale, the senior vice president directly owned 28,618 shares of the company's stock, valued at $6,699,759.98. The trade was a 7.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 12,125 shares of company stock valued at $2,751,227. Insiders own 6.60% of the company's stock.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $260.15 on Monday. The company has a 50-day simple moving average of $210.75 and a 200-day simple moving average of $188.75. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $263.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The stock has a market capitalization of $37.65 billion, a price-to-earnings ratio of 27.82, a PEG ratio of 0.55 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The business had revenue of $5.20 billion during the quarter, compared to analysts' expectations of $5.39 billion. During the same period in the previous year, the company posted $1.44 earnings per share. Steel Dynamics's quarterly revenue was up 19.1% on a year-over-year basis. On average, 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. Stockholders of record on Tuesday, June 30th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics's dividend payout ratio is presently 22.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. KeyCorp upped their price objective on shares of Steel Dynamics from $190.00 to $241.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. Bank of America downgraded shares of Steel Dynamics from a "buy" rating to a "neutral" rating and set a $250.00 price objective for the company. in a research note on Thursday, April 30th. Jefferies Financial Group restated a "buy" rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Wall Street Zen upgraded shares of Steel Dynamics from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. Finally, Citigroup upped their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Steel Dynamics presently has a consensus rating of "Moderate Buy" and a consensus price target of $219.36.

Steel Dynamics 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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