14,265 Shares in Steel Dynamics, Inc. $STLD Purchased by OP Asset Management Ltd

OP Asset Management Ltd acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the first quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,265 shares of the basic materials company’s stock, valued at approximately $2,568,000.

Several other institutional investors have also added to or reduced their stakes in the business. Fisher Asset Management LLC lifted its stake in shares of Steel Dynamics by 47.2% during 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 buying an additional 11,183 shares in the last quarter. Strs Ohio grew its stake 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 buying an additional 10,519 shares in the last quarter. Concentric Capital Strategies LP purchased a new position in Steel Dynamics in the 3rd quarter valued at approximately $24,349,000. Robeco Institutional Asset Management B.V. raised its holdings in Steel Dynamics by 3.7% during 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 during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Steel Dynamics by 1.0% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,046,791 shares of the basic materials company’s stock valued at $145,953,000 after acquiring an additional 10,537 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Steel Dynamics

In related news, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the transaction, the senior vice president directly owned 102,837 shares in the company, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction on 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 directly owned 28,618 shares in the company, valued at approximately $6,699,759.98. This represents a 7.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 22,125 shares of company stock valued at $5,438,226. 6.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

STLD has been the subject of a number of analyst reports. Wells Fargo & Company cut their price target on Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating for the company in a report on Thursday, June 18th. KeyCorp increased their price objective on Steel Dynamics from $241.00 to $262.00 and gave the stock an “overweight” rating in a report on Wednesday. BMO Capital Markets raised their target price on Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Barclays assumed coverage on Steel Dynamics in a report on Thursday, May 21st. They set an “overweight” rating and a $270.00 target price for the company. Finally, Wall Street Zen upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold 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 $236.36.

Steel Dynamics Trading Down 2.2%

Shares of STLD opened at $245.49 on Friday. The firm’s 50 day simple moving average is $244.38 and its 200 day simple moving average is $202.86. The company has a market capitalization of $35.53 billion, a P/E ratio of 26.26, a P/E/G ratio of 0.48 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 $288.74.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company 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 firm earned $1.44 earnings per share. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. Sell-side analysts forecast that Steel Dynamics, Inc. will post 16.78 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics’s payout ratio is currently 22.67%.

Steel Dynamics Company 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.