Capital Research Global Investors Buys 9,959 Shares of Steel Dynamics, Inc. $STLD

Capital Research Global Investors increased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,623,054 shares of the basic materials company’s stock after acquiring an additional 9,959 shares during the period. Capital Research Global Investors owned about 2.48% of Steel Dynamics worth $613,926,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sound Income Strategies LLC lifted its stake in shares of Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 150 shares during the last quarter. Torren Management LLC purchased a new position in Steel Dynamics during the 4th quarter valued at about $34,000. Nvest Wealth Strategies Inc. purchased a new position in Steel Dynamics during the 4th quarter valued at about $42,000. Eagle Bay Advisors LLC purchased a new position in Steel Dynamics during the 4th quarter valued at about $45,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in Steel Dynamics during the 3rd quarter valued at about $46,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

STLD stock opened at $268.50 on Monday. Steel Dynamics, Inc. has a fifty-two week low of $119.89 and a fifty-two week high of $280.49. The business’s 50 day moving average price is $220.99 and its two-hundred day moving average price is $192.82. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The company has a market capitalization of $38.86 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 0.57 and a beta of 1.50.

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

Steel Dynamics Dividend Announcement

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

Insiders Place Their Bets

In other Steel Dynamics news, Director Kenneth W. Cornew sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the transaction, the director owned 31,299 shares in the company, valued at approximately $7,038,206.13. This represents a 13.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the transaction, the senior vice president owned 28,618 shares in the company, valued at $6,699,759.98. This trade represents a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 12,125 shares of company stock worth $2,751,227. Company insiders own 6.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Barclays assumed coverage on Steel Dynamics in a report on Thursday, May 21st. They set an “overweight” rating and a $270.00 price target on the stock. Bank of America downgraded Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 price target on the stock. in a report on Thursday, April 30th. Citigroup boosted their price target on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. KeyCorp boosted their price target on Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings upgraded Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, April 29th. One equities research 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 given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $224.64.

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.