Capital Research Global Investors Buys 9,959 Shares of Steel Dynamics, Inc. $STLD

Capital Research Global Investors lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,623,054 shares of the basic materials company’s stock after purchasing an additional 9,959 shares during the quarter. Capital Research Global Investors’ holdings in Steel Dynamics were worth $613,926,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Fisher Asset Management LLC lifted its position in Steel Dynamics by 47.2% in the 3rd quarter. Fisher Asset Management LLC now owns 34,878 shares of the basic materials company’s stock valued at $4,863,000 after acquiring an additional 11,183 shares in the last quarter. Strs Ohio lifted its position in Steel Dynamics by 7.3% in the 4th quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock valued at $26,075,000 after acquiring an additional 10,519 shares in the last quarter. Concentric Capital Strategies LP bought a new position in Steel Dynamics in the 3rd quarter valued at approximately $24,349,000. Robeco Institutional Asset Management B.V. lifted its position in Steel Dynamics by 3.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock valued at $340,289,000 after acquiring an additional 72,122 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ lifted its position in Steel Dynamics by 16.4% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 47,912 shares of the basic materials company’s stock valued at $6,680,000 after acquiring an additional 6,738 shares in the last quarter. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Price Performance

NASDAQ STLD opened at $268.50 on Monday. The business’s fifty day moving average price is $220.99 and its 200-day moving average price is $192.82. The stock has a market capitalization of $38.86 billion, a price-to-earnings ratio of 28.72, a PEG ratio of 0.57 and a beta of 1.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $280.49.

Steel Dynamics (NASDAQ:STLD) last released 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). The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. Steel Dynamics’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.44 earnings per share. On average, equities analysts predict that Steel Dynamics, Inc. will post 14.77 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is presently 22.67%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on STLD shares. Bank of America cut Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 price objective on the stock. in a research report on Thursday, April 30th. KeyCorp upped their price objective on Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. BMO Capital Markets upped their price objective on Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Finally, Morgan Stanley reaffirmed an “underperform” rating and issued a $190.00 price objective on shares of Steel Dynamics in a research report on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $224.64.

Insider Activity

In other news, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the transaction, the senior vice president directly owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This represents a 7.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction 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 transaction, the senior vice president directly owned 122,257 shares in the company, valued at $27,578,734.06. The trade was a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 12,125 shares of company stock valued at $2,751,227 in the last ninety days. 6.60% of the stock is currently owned by company insiders.

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.