Twin Capital Management Inc. Purchases Shares of 2,475 Steel Dynamics, Inc. $STLD

Twin Capital Management Inc. purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,475 shares of the basic materials company’s stock, valued at approximately $446,000.

A number of other large investors also recently modified their holdings of the business. Life Cycle Investment Partners Ltd acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at about $586,702,000. Norges Bank acquired a new position in Steel Dynamics during the fourth quarter valued at approximately $564,590,000. Boston Partners grew its stake in Steel Dynamics by 147.9% in the fourth quarter. Boston Partners now owns 1,793,630 shares of the basic materials company’s stock valued at $303,970,000 after purchasing an additional 1,070,042 shares in the last quarter. Hsbc Holdings PLC grew its stake in Steel Dynamics by 92.4% in 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 purchasing an additional 494,828 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Steel Dynamics during the 2nd quarter worth approximately $48,746,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Steel Dynamics

In other news, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the transaction, the senior vice president owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. This represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Miguel Alvarez sold 4,825 shares of Steel Dynamics stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total value of $1,088,423.50. Following the sale, the senior vice president directly owned 122,257 shares of the company’s stock, valued at approximately $27,578,734.06. The trade was a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 22,125 shares of company stock worth $5,438,226. Insiders own 6.60% of the company’s stock.

Steel Dynamics Price Performance

Shares of STLD opened at $235.51 on Friday. The company’s 50-day moving average is $245.95 and its 200-day moving average is $208.80. 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 firm has a market capitalization of $34.08 billion, a PE ratio of 25.19, a PEG ratio of 0.44 and a beta of 1.53. Steel Dynamics, Inc. has a fifty-two week low of $119.89 and a fifty-two week high of $288.74.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS 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 company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the firm posted $1.44 EPS. The business’s quarterly revenue was up 19.1% on a year-over-year basis. Equities analysts forecast that Steel Dynamics, Inc. will post 17.27 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Steel Dynamics’s payout ratio is currently 22.67%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on STLD. KeyCorp upped their price objective on Steel Dynamics from $241.00 to $262.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Morgan Stanley raised their target price on shares of Steel Dynamics from $227.00 to $270.00 and gave the company an “equal weight” rating in a research note on Monday, June 22nd. JPMorgan Chase & Co. lowered their target price on shares of Steel Dynamics from $262.00 to $256.00 and set a “neutral” rating on the stock in a report on Wednesday. BMO Capital Markets upped their price target on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Finally, Barclays initiated coverage on shares of Steel Dynamics in a research note on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $239.18.

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.