Strs Ohio Invests $13.60 Million in Steel Dynamics, Inc. $STLD

Key Points

• Strs Ohio invested approximately $13.60 million in Steel Dynamics during the first quarter, acquiring 108,758 shares, which constitutes about 0.07% of the company's stock.
• Steel Dynamics recently announced a quarterly dividend of $0.50 per share, with an ex-dividend date set for September 30th, representing an annualized yield of 1.5%.
• Analysts have raised target prices for Steel Dynamics stock, with estimates reaching up to $150.00, while the company has an average rating of "Moderate Buy" based on recent evaluations.

Strs Ohio purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 108,758 shares of the basic materials company's stock, valued at approximately $13,603,000. Strs Ohio owned approximately 0.07% of Steel Dynamics as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of STLD. Price T Rowe Associates Inc. MD increased its stake in Steel Dynamics by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company's stock worth $883,854,000 after purchasing an additional 1,437,897 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Steel Dynamics by 433.1% in 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 purchasing an additional 1,475,767 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Steel Dynamics by 3.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,599,076 shares of the basic materials company's stock worth $200,012,000 after buying an additional 52,218 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Steel Dynamics by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,405,666 shares of the basic materials company's stock worth $175,821,000 after buying an additional 30,759 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Steel Dynamics by 531.0% during the 1st 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 buying an additional 1,002,813 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on STLD shares. Wells Fargo & Company upped their price objective on Steel Dynamics from $143.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday. Morgan Stanley upped their price target on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Finally, JPMorgan Chase & Co. increased their price target on Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $149.40.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Christopher A. Graham sold 12,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following the completion of the sale, the senior vice president directly owned 66,738 shares of the company's stock, valued at $8,456,371.98. This represents a 15.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.30% of the company's stock.

Steel Dynamics Stock Up 0.7%

Shares of STLD traded up $0.93 during mid-day trading on Monday, reaching $131.58. The company's stock had a trading volume of 1,083,210 shares, compared to its average volume of 1,125,530. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The stock has a market cap of $19.37 billion, a PE ratio of 19.18, a price-to-earnings-growth ratio of 1.06 and a beta of 1.40. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. The company's 50 day moving average is $129.55 and its 200 day moving average is $127.97.

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

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.5%. Steel Dynamics's dividend payout ratio (DPR) is presently 29.15%.

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.