Steel Dynamics, Inc. $STLD Shares Acquired by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 6.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,770 shares of the basic materials company’s stock after buying an additional 3,240 shares during the period. Daiwa Securities Group Inc.’s holdings in Steel Dynamics were worth $9,111,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in STLD. State of Wyoming acquired a new position in Steel Dynamics during the fourth quarter valued at $224,000. Lido Advisors LLC lifted its position in Steel Dynamics by 2.0% during the fourth quarter. Lido Advisors LLC now owns 10,450 shares of the basic materials company’s stock valued at $1,645,000 after purchasing an additional 205 shares during the period. CIBC Asset Management Inc lifted its position in Steel Dynamics by 59.4% during the fourth quarter. CIBC Asset Management Inc now owns 34,489 shares of the basic materials company’s stock valued at $5,844,000 after purchasing an additional 12,848 shares during the period. Marble Wealth LLC acquired a new position in Steel Dynamics during the fourth quarter valued at $705,000. Finally, Bank of New York Mellon Corp lifted its position in Steel Dynamics by 4.3% during the fourth quarter. Bank of New York Mellon Corp now owns 905,151 shares of the basic materials company’s stock valued at $153,378,000 after purchasing an additional 37,576 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,300 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president directly owned 28,618 shares in the company, valued at approximately $6,699,759.98. This represents a 7.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction that occurred on 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 sale, the senior vice president owned 122,257 shares in the company, valued at approximately $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 12,125 shares of company stock worth $2,751,227. 6.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Morgan Stanley restated an “underperform” rating and set a $190.00 target price on shares of Steel Dynamics in a research report on Tuesday, March 17th. Wall Street Zen upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Wells Fargo & Company upped their price objective on shares of Steel Dynamics from $235.00 to $293.00 and gave the stock an “overweight” rating in a research report on Thursday. Barclays assumed coverage on shares of Steel Dynamics in a research report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price objective for the company. Finally, Weiss Ratings upgraded shares of Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $224.64.

Steel Dynamics Price Performance

STLD stock opened at $268.50 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. The business has a 50 day simple moving average of $220.99 and a 200-day simple moving average of $192.55. The firm has a market capitalization of $38.86 billion, a PE ratio of 28.72, a price-to-earnings-growth ratio of 0.57 and a beta of 1.50. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $280.49.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly 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 analysts’ expectations of $5.39 billion. During the same quarter last year, the company earned $1.44 earnings per share. Steel Dynamics’s revenue for the quarter was up 19.1% on a year-over-year basis. Equities research analysts anticipate that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is currently 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.