2,190 Shares in Steel Dynamics, Inc. $STLD Purchased by NewEdge Wealth LLC

NewEdge Wealth LLC bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,190 shares of the basic materials company’s stock, valued at approximately $371,000.

Several other large investors have also recently added to or reduced their stakes in STLD. Boston Partners purchased a new position in Steel Dynamics during the third quarter worth about $101,254,000. Qube Research & Technologies Ltd purchased a new position in Steel Dynamics during the second quarter worth about $48,746,000. Caisse de depot et placement du Quebec lifted its position in Steel Dynamics by 134.9% during the third quarter. Caisse de depot et placement du Quebec now owns 493,290 shares of the basic materials company’s stock worth $68,779,000 after buying an additional 283,300 shares during the period. AQR Capital Management LLC lifted its position in Steel Dynamics by 79.1% during the second quarter. AQR Capital Management LLC now owns 627,542 shares of the basic materials company’s stock worth $80,332,000 after buying an additional 277,166 shares during the period. Finally, Schonfeld Strategic Advisors LLC lifted its position in Steel Dynamics by 6,163.9% during the third quarter. Schonfeld Strategic Advisors LLC now owns 274,861 shares of the basic materials company’s stock worth $38,324,000 after buying an additional 270,473 shares during the period. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Kenneth W. Cornew sold 5,000 shares of the stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total value of $1,124,350.00. Following the completion of the sale, the director owned 31,299 shares in the company, valued at approximately $7,038,206.13. This trade represents a 13.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction dated 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 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. Over the last quarter, insiders sold 12,125 shares of company stock worth $2,751,227. 6.60% of the stock is currently owned by corporate insiders.

Steel Dynamics Price Performance

STLD stock opened at $229.34 on Friday. 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, Inc. has a 1 year low of $119.89 and a 1 year high of $243.73. The firm has a market cap of $33.19 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 0.49 and a beta of 1.48. The stock has a 50-day simple moving average of $197.95 and a 200-day simple moving average of $182.49.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the business posted $1.44 EPS. Steel Dynamics’s quarterly revenue was up 19.1% compared to the same quarter last year. On average, equities analysts predict that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

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

Analyst Upgrades and Downgrades

STLD has been the topic of a number of research reports. Citigroup raised their price objective on Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Morgan Stanley restated an “underperform” rating and issued a $190.00 price objective on shares of Steel Dynamics in a report on Tuesday, March 17th. BMO Capital Markets raised their price objective on Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. Wall Street Zen upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Finally, KeyCorp raised their price objective on Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Six research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $214.30.

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.