Dorsey Wright & Associates Has $1.20 Million Stock Position in Steel Dynamics, Inc. $STLD

Dorsey Wright & Associates increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 321.8% in the 1st quarter, Holdings Channel reports. The fund owned 6,643 shares of the basic materials company’s stock after purchasing an additional 5,068 shares during the period. Dorsey Wright & Associates’ holdings in Steel Dynamics were worth $1,196,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Strs Ohio grew its position in Steel Dynamics by 7.3% during 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 in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Steel Dynamics by 3.7% in 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 in the last quarter. Econ Financial Services Corp purchased a new stake in Steel Dynamics in the 4th quarter worth approximately $1,171,000. AIA Group Ltd acquired a new stake in shares of Steel Dynamics during the 3rd quarter valued at $543,000. Finally, Canada Post Corp Registered Pension Plan boosted its stake in shares of Steel Dynamics by 70.5% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 11,692 shares of the basic materials company’s stock valued at $1,981,000 after buying an additional 4,835 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Steel Dynamics from $262.00 to $256.00 and set a “neutral” rating on the stock in a research note on Wednesday. Wall Street Zen raised Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Citigroup boosted 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. Weiss Ratings raised Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Finally, KeyCorp raised their price target on Steel Dynamics from $241.00 to $262.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $239.18.

Steel Dynamics Stock Performance

STLD stock opened at $235.51 on Friday. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $34.08 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 0.44 and a beta of 1.53. Steel Dynamics, Inc. has a 12 month low of $119.89 and a 12 month high of $288.74. The firm has a 50 day moving average of $245.95 and a two-hundred day moving average of $208.80.

Steel Dynamics (NASDAQ:STLD) last released its quarterly 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 business 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 firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.44 EPS. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 16.92 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is presently 22.67%.

Insider Buying and Selling at Steel Dynamics

In other news, Director Kenneth W. Cornew sold 5,000 shares of the company’s stock in a transaction dated 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 completion of the sale, 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 SEC, which can be accessed through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the sale, the senior vice president owned 28,618 shares of the company’s stock, valued at approximately $6,699,759.98. This trade represents a 7.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 22,125 shares of company stock valued at $5,438,226. 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.