Ensign Peak Advisors Inc Has $27.35 Million Stake in Steel Dynamics, Inc. $STLD

Ensign Peak Advisors Inc decreased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 213,640 shares of the basic materials company’s stock after selling 2,514 shares during the quarter. Ensign Peak Advisors Inc owned 0.14% of Steel Dynamics worth $27,348,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in STLD. Nomura Asset Management Co. Ltd. raised its holdings in Steel Dynamics by 21.9% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 88,558 shares of the basic materials company’s stock valued at $11,336,000 after acquiring an additional 15,931 shares in the last quarter. Raiffeisen Bank International AG bought a new stake in shares of Steel Dynamics during the second quarter valued at approximately $7,770,000. Generali Investments Management Co LLC acquired a new position in shares of Steel Dynamics in the second quarter valued at $88,000. Rockefeller Capital Management L.P. lifted its position in Steel Dynamics by 11.2% in the second quarter. Rockefeller Capital Management L.P. now owns 21,695 shares of the basic materials company’s stock worth $2,777,000 after purchasing an additional 2,181 shares during the period. Finally, Intech Investment Management LLC boosted its stake in Steel Dynamics by 663.6% during the second quarter. Intech Investment Management LLC now owns 38,050 shares of the basic materials company’s stock worth $4,871,000 after buying an additional 33,067 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $158.16 on Friday. The stock has a 50-day simple moving average of $147.87 and a 200 day simple moving average of $136.44. The stock has a market capitalization of $23.10 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 1.39 and a beta of 1.45. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $164.73.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the firm earned $2.05 EPS. The company’s revenue was up 11.2% on a year-over-year basis. On average, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 annualized dividend and a yield of 1.3%. Steel Dynamics’s dividend payout ratio is currently 26.49%.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the transaction, the senior vice president directly owned 117,068 shares in the company, valued at approximately $19,057,499.72. This trade represents a 6.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STLD. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, October 13th. Jefferies Financial Group increased their price target on shares of Steel Dynamics from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. UBS Group set a $165.00 price target on shares of Steel Dynamics in a research note on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research note on Wednesday. Finally, Citigroup increased their target price on Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $170.44.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.