Stance Capital LLC Purchases 7,921 Shares of Steel Dynamics, Inc. $STLD

Stance Capital LLC grew its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 5,245.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,072 shares of the basic materials company’s stock after acquiring an additional 7,921 shares during the period. Stance Capital LLC’s holdings in Steel Dynamics were worth $1,368,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STLD. Rockefeller Capital Management L.P. boosted its holdings in Steel Dynamics by 3.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 25,640 shares of the basic materials company’s stock worth $4,345,000 after purchasing an additional 801 shares during the last quarter. World Investment Advisors bought a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $291,000. Hsbc Holdings PLC increased its position in shares of Steel Dynamics by 92.4% during the fourth quarter. Hsbc Holdings PLC now owns 1,030,448 shares of the basic materials company’s stock valued at $174,609,000 after acquiring an additional 494,828 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in Steel Dynamics by 864.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 733 shares of the basic materials company’s stock worth $124,000 after acquiring an additional 657 shares during the period. Finally, SG Trading Solutions LLC purchased a new stake in shares of Steel Dynamics during the 4th quarter valued at $241,000. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $249.91 on Friday. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $288.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. The business’s fifty day moving average price is $239.04 and its 200-day moving average price is $200.11. The stock has a market capitalization of $36.17 billion, a PE ratio of 26.73, a P/E/G ratio of 0.50 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the previous year, the company posted $1.44 EPS. The firm’s revenue was up 19.1% compared to the same quarter last year. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 15.67 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. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio (DPR) is currently 22.67%.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,300 shares of Steel Dynamics stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the transaction, the senior vice president owned 28,618 shares in the company, valued at $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth W. Cornew sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the completion of the sale, the director directly owned 31,299 shares in the company, valued at approximately $7,038,206.13. This trade represents a 13.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,125 shares of company stock worth $5,438,226 over the last three months. Company insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on STLD shares. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Wells Fargo & Company decreased their price objective on shares of Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating for the company in a report on Thursday. Citigroup lifted their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Bank of America dropped their target price on shares of Steel Dynamics from $285.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, BMO Capital Markets increased their target price on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $227.18.

About Steel Dynamics

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.