Steel Dynamics, Inc. $STLD Shares Purchased by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. boosted its stake in Steel Dynamics by 801.2% in the fourth quarter, ending with 15,898 shares worth about $2.69 million. Several other institutional investors also added positions, and institutions now own 82.41% of the stock.
• Wall Street remains broadly positive on Steel Dynamics despite some mixed views: the consensus rating is Moderate Buy with an average price target of $219.36. Recent target raises from KeyCorp, BMO Capital Markets, and Wells Fargo reflect improving expectations.
• The company reported Q1 earnings of $2.78 per share, slightly below estimates, while revenue came in at $5.20 billion versus the expected $5.39 billion. Steel Dynamics also announced a quarterly dividend of $0.53 per share, and insiders sold shares during the quarter.

Northwestern Mutual Wealth Management Co. lifted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 801.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,898 shares of the basic materials company's stock after purchasing an additional 14,134 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Steel Dynamics were worth $2,694,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Donoghue Forlines LLC purchased a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $2,268,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Steel Dynamics during the 4th quarter worth $1,043,000. Ameritas Advisory Services LLC grew its stake in shares of Steel Dynamics by 5.2% during the 4th quarter. Ameritas Advisory Services LLC now owns 1,747 shares of the basic materials company's stock worth $296,000 after purchasing an additional 86 shares during the period. World Investment Advisors acquired a new stake in Steel Dynamics in the 4th quarter valued at about $291,000. Finally, Versor Investments LP purchased a new stake in Steel Dynamics in the 4th quarter valued at approximately $241,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley reaffirmed an "underperform" rating and set a $190.00 price target 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 report on Tuesday, March 17th. KeyCorp raised their price target on shares of Steel Dynamics from $190.00 to $241.00 and gave the company an "overweight" rating in a report on Wednesday, April 22nd. BMO Capital Markets lifted their price objective on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an "outperform" rating in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Company lifted their price objective on shares of Steel Dynamics from $207.00 to $235.00 and gave the company an "overweight" 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 given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $219.36.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $240.03 on Tuesday. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $203.88 and a 200 day simple moving average of $185.80. The firm has a market cap of $34.74 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 0.51 and a beta of 1.48. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $243.73.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm's quarterly revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.44 EPS. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 14.77 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics's payout ratio is 22.67%.

Insider Buying and Selling

In other Steel Dynamics news, SVP Miguel Alvarez sold 4,825 shares of Steel Dynamics stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kenneth W. Cornew sold 5,000 shares of Steel Dynamics stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the completion of the transaction, the director directly owned 31,299 shares of the company's stock, valued at approximately $7,038,206.13. This represents a 13.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 12,125 shares of company stock worth $2,751,227. Insiders own 6.60% of the company's stock.

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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