Northwestern Mutual Wealth Management Co. Acquires 2,494 Shares of Steel Dynamics, Inc. $STLD

Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 141.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 4,258 shares of the basic materials company’s stock after purchasing an additional 2,494 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Steel Dynamics were worth $721,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Godfrey Financial Associates Inc. bought a new position in shares of Steel Dynamics during the 4th quarter valued at $71,000. Kingsview Wealth Management LLC grew its position in Steel Dynamics by 11.2% during the 4th quarter. Kingsview Wealth Management LLC now owns 7,579 shares of the basic materials company’s stock worth $1,284,000 after acquiring an additional 761 shares during the last quarter. Knights of Columbus Asset Advisors LLC grew its position in Steel Dynamics by 93.3% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 30,808 shares of the basic materials company’s stock worth $5,220,000 after acquiring an additional 14,873 shares during the last quarter. King Luther Capital Management Corp bought a new position in Steel Dynamics during the 4th quarter worth approximately $218,000. Finally, Integrity Alliance LLC. bought a new position in Steel Dynamics during the 4th quarter worth approximately $240,000. Institutional investors own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In related news, SVP James Stanley Anderson sold 10,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the sale, the senior vice president directly owned 28,618 shares in the company, valued at $6,699,759.98. The trade was a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 22,125 shares of company stock valued at $5,438,227. Company insiders own 6.60% of the company’s stock.

Steel Dynamics Trading Down 0.5%

Shares of STLD opened at $267.20 on Tuesday. The firm’s 50-day moving average price is $222.85 and its 200-day moving average price is $193.61. The firm has a market capitalization of $38.67 billion, a price-to-earnings ratio of 28.58, a PEG ratio of 0.57 and a beta of 1.50. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $280.49.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 7.22% and a return on equity of 15.54%. The company’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.44 EPS. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. Steel Dynamics’s payout ratio is currently 22.67%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley restated an “underperform” rating and set a $190.00 price target on shares of Steel Dynamics in a research report on Tuesday, March 17th. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Weiss Ratings upgraded Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, April 29th. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Finally, Citigroup raised their price target on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. One 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 stock. Based on data from MarketBeat, Steel Dynamics currently has a consensus rating of “Moderate Buy” and an average price target of $224.64.

About Steel Dynamics

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.