Ethic Inc. Buys 6,695 Shares of Steel Dynamics, Inc. $STLD

Ethic Inc. grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 56.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 18,548 shares of the basic materials company’s stock after acquiring an additional 6,695 shares during the quarter. Ethic Inc.’s holdings in Steel Dynamics were worth $3,143,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of STLD. Boston Partners bought a new stake in Steel Dynamics in the third quarter valued at approximately $101,254,000. Qube Research & Technologies Ltd bought a new stake in Steel Dynamics in the second quarter valued at approximately $48,746,000. Caisse de depot et placement du Quebec lifted its holdings 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 acquiring an additional 283,300 shares in the last quarter. AQR Capital Management LLC lifted its holdings 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 acquiring an additional 277,166 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings 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 acquiring an additional 270,473 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Up 0.4%

NASDAQ:STLD opened at $235.97 on Tuesday. 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 cap of $34.03 billion, a PE ratio of 25.24, a PEG ratio of 0.50 and a beta of 1.48. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $243.73. The stock has a 50-day simple moving average of $194.99 and a 200 day simple moving average of $180.39.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.44 EPS. On average, sell-side analysts expect that Steel Dynamics, Inc. will post 14.77 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

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 paid 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 0.9%. Steel Dynamics’s dividend payout ratio is currently 22.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on STLD shares. Bank of America cut Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 price objective on the stock. in a report on Thursday, April 30th. Jefferies Financial Group reissued a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Wells Fargo & Company increased their target price on Steel Dynamics from $207.00 to $235.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. BMO Capital Markets increased their target price on Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. Finally, Weiss Ratings raised shares of Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, April 29th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $214.30.

Insider Buying and Selling

In other news, SVP Miguel Alvarez sold 4,825 shares of Steel Dynamics stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total value of $1,088,423.50. Following the completion of the transaction, the senior vice president owned 122,257 shares of the company’s stock, valued at $27,578,734.06. This trade represents a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kenneth W. Cornew sold 5,000 shares of Steel Dynamics stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the completion of the transaction, the director directly owned 31,299 shares of the company’s stock, valued at approximately $7,038,206.13. This trade represents a 13.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 6.60% of the company’s stock.

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.