Life Cycle Investment Partners Ltd Makes New $586.70 Million Investment in Steel Dynamics, Inc. $STLD

Life Cycle Investment Partners Ltd bought a new position in Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,462,392 shares of the basic materials company’s stock, valued at approximately $586,702,000. Steel Dynamics makes up about 4.1% of Life Cycle Investment Partners Ltd’s holdings, making the stock its 6th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its stake in Steel Dynamics by 1,636.4% in the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 180 shares in the last quarter. Sound Income Strategies LLC grew its stake in Steel Dynamics by 1,500.0% in the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 150 shares in the last quarter. Torren Management LLC purchased a new position in Steel Dynamics in the fourth quarter valued at about $34,000. Covestor Ltd grew its stake in Steel Dynamics by 44.3% in the third quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. Finally, Nvest Wealth Strategies Inc. purchased a new position in Steel Dynamics in the fourth quarter valued at about $42,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analyst Ratings Changes

STLD has been the topic of a number of recent research reports. Citigroup boosted their target price on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. KeyCorp lifted their target price on shares of Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Weiss Ratings upgraded shares of Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, April 29th. Wells Fargo & Company lifted their target price on shares of Steel Dynamics from $207.00 to $235.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $219.36.

Insider Transactions at Steel Dynamics

In other news, SVP Miguel Alvarez sold 4,825 shares of the company’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the completion of the sale, the senior vice president owned 122,257 shares in the company, valued at approximately $27,578,734.06. This represents a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the company’s 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 sale, the senior vice president owned 28,618 shares of the company’s stock, valued at approximately $6,699,759.98. This trade represents a 7.44% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 12,125 shares of company stock worth $2,751,227. 6.60% of the stock is owned by corporate insiders.

Steel Dynamics Stock Performance

STLD opened at $240.03 on Friday. The company has a market cap of $34.74 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 0.51 and a beta of 1.48. The stock has a 50-day moving average of $202.58 and a 200-day moving average of $184.97. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $243.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13.

Steel Dynamics (NASDAQ:STLD) last released its quarterly 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). The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The business’s revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.44 EPS. As a group, equities research analysts forecast that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is 22.67%.

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.