Strs Ohio Acquires 10,519 Shares of Steel Dynamics, Inc. $STLD

Key Points

• STRS Ohio raised its stake in Steel Dynamics by 7.3%, buying 10,519 shares to hold 153,878 shares worth about $26.08 million (roughly 0.11% of the company), while institutional investors own 82.41% of the stock.
• Insider selling occurred on April 23: Director Kenneth Cornew sold 5,000 shares ($1.12M) and SVP Miguel Alvarez sold 4,825 shares ($1.09M), reducing insider ownership to about 6.6%.
• Steel Dynamics slightly missed quarterly expectations (EPS $2.78 vs. $2.79; revenue $5.20B vs. $5.39B), the company raised its quarterly dividend to $0.53, and analysts have mixed views—multiple recent upgrades but a consensus rating of Hold with a $214.30 price target.

Strs Ohio raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,878 shares of the basic materials company's stock after acquiring an additional 10,519 shares during the period. Strs Ohio owned about 0.11% of Steel Dynamics worth $26,075,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STLD. Optas LLC boosted its stake in shares of Steel Dynamics by 3.0% during the fourth quarter. Optas LLC now owns 1,979 shares of the basic materials company's stock valued at $335,000 after purchasing an additional 58 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Steel Dynamics by 13.2% during the third quarter. Versant Capital Management Inc now owns 548 shares of the basic materials company's stock valued at $76,000 after purchasing an additional 64 shares in the last quarter. Wright Investors Service Inc. boosted its stake in shares of Steel Dynamics by 1.2% during the fourth quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company's stock valued at $941,000 after purchasing an additional 64 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Steel Dynamics by 4.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company's stock valued at $246,000 after purchasing an additional 70 shares in the last quarter. Finally, Choreo LLC boosted its stake in shares of Steel Dynamics by 3.3% during the third quarter. Choreo LLC now owns 2,521 shares of the basic materials company's stock valued at $353,000 after purchasing an additional 80 shares in the last quarter. Institutional investors own 82.41% of the company's stock.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, Director Kenneth W. Cornew sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total value of $1,124,350.00. Following the transaction, the director directly owned 31,299 shares of the company's stock, valued at approximately $7,038,206.13. The trade was a 13.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Miguel Alvarez sold 4,825 shares of the business's stock in a transaction that occurred 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 directly owned 122,257 shares in the company, valued at approximately $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.60% of the stock is currently owned by insiders.

Steel Dynamics Price Performance

Shares of STLD opened at $229.27 on Friday. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $230.94. 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 business's 50 day moving average price is $190.61 and its two-hundred day moving average price is $176.99. The firm has a market cap of $33.06 billion, a PE ratio of 24.52, a price-to-earnings-growth ratio of 0.58 and a beta of 1.48.

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 the consensus estimate 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 analyst estimates of $5.39 billion. During the same period last year, the firm posted $1.44 earnings per share. Steel Dynamics's quarterly revenue was up 19.1% compared to the same quarter last year. On average, equities analysts anticipate that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.9%. This is a boost from Steel Dynamics's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, March 31st. Steel Dynamics's payout ratio is presently 22.67%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on STLD shares. KeyCorp lifted their price target on Steel Dynamics from $190.00 to $241.00 and gave the company an "overweight" rating in a research note on Wednesday, April 22nd. Jefferies Financial Group reissued a "buy" rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Wall Street Zen raised Steel Dynamics from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. Citigroup lifted their price target on Steel Dynamics from $180.00 to $255.00 and gave the company a "buy" rating in a research note on Wednesday, April 22nd. Finally, Weiss Ratings raised Steel Dynamics from a "hold (c)" rating to a "buy (b-)" rating in a research note on Wednesday. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $214.30.

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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