Sustainable Insight Capital Management LLC Raises Stock Position in Steel Dynamics, Inc. $STLD

Sustainable Insight Capital Management LLC grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 86.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,237 shares of the basic materials company’s stock after acquiring an additional 10,800 shares during the period. Steel Dynamics comprises about 1.4% of Sustainable Insight Capital Management LLC’s holdings, making the stock its 21st biggest position. Sustainable Insight Capital Management LLC’s holdings in Steel Dynamics were worth $4,183,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Life Cycle Investment Partners Ltd purchased a new position in Steel Dynamics in the 4th quarter valued at approximately $586,702,000. Norges Bank purchased a new stake in Steel Dynamics during the fourth quarter worth $564,590,000. Boston Partners grew its holdings 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 during the last quarter. Bessemer Group Inc. grew its holdings in Steel Dynamics by 56,088.1% in the first quarter. Bessemer Group Inc. now owns 542,215 shares of the basic materials company’s stock valued at $97,598,000 after purchasing an additional 541,250 shares during the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of 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 buying an additional 494,828 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling

In other news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction 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 completion of the sale, the senior vice president owned 102,837 shares of the company’s stock, valued at $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Up 2.7%

Shares of NASDAQ:STLD opened at $247.11 on Friday. The company has a quick ratio of 1.33, a current ratio of 3.18 and a debt-to-equity ratio of 0.45. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $288.74. The stock’s fifty day simple moving average is $246.36 and its 200-day simple moving average is $211.12. The company has a market capitalization of $35.76 billion, a P/E ratio of 22.40, a P/E/G ratio of 0.46 and a beta of 1.53.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Monday, July 20th. The basic materials company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.63 by $0.06. The business had revenue of $6.09 billion for the quarter, compared to analyst estimates of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The business’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.01 earnings per share. As a group, equities research analysts forecast that Steel Dynamics, Inc. will post 17.09 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared 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. The ex-dividend date was Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. Steel Dynamics’s payout ratio is 19.22%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on STLD shares. Citigroup lifted their price target on Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. BMO Capital Markets lifted their target price 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. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Finally, JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $256.00 to $260.00 and gave the company a “neutral” rating in a research report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $237.36.

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.