Strs Ohio Makes New $13.60 Million Investment 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 bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 108,758 shares of the basic materials company's stock, valued at approximately $13,603,000. Strs Ohio owned about 0.07% of Steel Dynamics at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in STLD. Financial Gravity Asset Management Inc. bought a new stake in Steel Dynamics during the 1st quarter worth approximately $25,000. Cary Street Partners Investment Advisory LLC grew its holdings in Steel Dynamics by 493.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company's stock worth $25,000 after acquiring an additional 163 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in Steel Dynamics during the 1st quarter worth approximately $32,000. WPG Advisers LLC bought a new stake in Steel Dynamics during the 1st quarter worth approximately $32,000. Finally, Grove Bank & Trust grew its holdings in Steel Dynamics by 194.7% during the 1st quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock worth $35,000 after acquiring an additional 183 shares during the last quarter. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Stock Up 2.2%

Shares of Steel Dynamics stock traded up $2.99 during trading on Thursday, reaching $139.84. 1,515,324 shares of the company traded hands, compared to its average volume of 1,189,280. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56. The company has a 50 day moving average price of $129.69 and a 200-day moving average price of $128.17. The firm has a market capitalization of $20.59 billion, a PE ratio of 20.38, a P/E/G ratio of 1.11 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its 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 company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the firm earned $2.72 EPS. The firm's revenue was down 1.5% on a year-over-year basis. As a group, equities research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Steel Dynamics's payout ratio is presently 29.15%.

Insider Activity

In related news, SVP Christopher A. Graham sold 12,000 shares of the business's stock in a transaction on 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 transaction, the senior vice president owned 66,738 shares in the company, valued at $8,456,371.98. The trade was a 15.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

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.