100,043 Shares in Steel Dynamics, Inc. $STLD Purchased by Encompass Capital Advisors LLC

Encompass Capital Advisors LLC bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the 1st quarter, Holdings Channel reports. The firm bought 100,043 shares of the basic materials company’s stock, valued at approximately $18,008,000.

Other hedge funds also recently added to or reduced their stakes in the company. Strs Ohio grew its holdings in Steel Dynamics by 7.3% in the fourth quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock valued at $26,075,000 after purchasing an additional 10,519 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of Steel Dynamics by 3.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock worth $340,289,000 after buying an additional 72,122 shares during the last quarter. Econ Financial Services Corp acquired a new position in shares of Steel Dynamics during the 4th quarter worth $1,171,000. Canada Post Corp Registered Pension Plan boosted its position in shares of Steel Dynamics by 70.5% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 11,692 shares of the basic materials company’s stock worth $1,981,000 after buying an additional 4,835 shares in the last quarter. Finally, Ethic Inc. boosted its position in shares of Steel Dynamics by 56.5% in the 4th quarter. Ethic Inc. now owns 18,548 shares of the basic materials company’s stock worth $3,143,000 after buying an additional 6,695 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. BMO Capital Markets raised their target price on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. Bank of America reduced their price target on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Morgan Stanley lowered their price target on shares of Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. Wells Fargo & Company cut their price objective on Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Finally, Citigroup upped 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. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Steel Dynamics has an average rating of “Moderate Buy” and an average price target of $237.36.

Insider Buying and Selling

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction that occurred on Friday, June 5th. The shares were 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 directly owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction on 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 transaction, the senior vice president owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 6.60% of the stock is currently owned by company insiders.

Steel Dynamics Price Performance

NASDAQ:STLD opened at $250.27 on Tuesday. The firm has a market cap of $36.22 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 0.47 and a beta of 1.53. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average is $246.79 and its two-hundred day moving average is $211.94. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $288.74.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Monday, July 20th. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.63 by $0.06. The company had revenue of $6.09 billion for the quarter, compared to analysts’ expectations of $5.56 billion. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The firm’s revenue for the quarter was up 33.4% compared to the same quarter last year. During the same period last year, the company earned $2.01 EPS. Research analysts expect that Steel Dynamics, Inc. will post 17.17 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were given 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 yield of 0.8%. Steel Dynamics’s dividend payout ratio (DPR) is 19.22%.

Steel Dynamics Company 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.