Fisher Asset Management LLC Buys 70,205 Shares of Steel Dynamics, Inc. $STLD

Fisher Asset Management LLC lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 201.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,083 shares of the basic materials company’s stock after buying an additional 70,205 shares during the quarter. Fisher Asset Management LLC’s holdings in Steel Dynamics were worth $17,806,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Sound Income Strategies LLC raised its stake in shares of Steel Dynamics by 1,500.0% in the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after buying an additional 150 shares during the period. Cornerstone Planning Group LLC raised its stake in shares of Steel Dynamics by 1,636.4% in the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after buying an additional 180 shares during the period. Torren Management LLC bought a new position in shares of Steel Dynamics in the fourth quarter worth about $34,000. Nvest Wealth Strategies Inc. bought a new position in shares of Steel Dynamics in the fourth quarter worth about $42,000. Finally, Eagle Bay Advisors LLC bought a new position in shares of Steel Dynamics in the fourth quarter worth about $45,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $258.22 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $259.91. The stock’s 50 day simple moving average is $207.16 and its two-hundred day simple moving average is $187.22. The company has a market cap of $37.37 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 0.53 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data 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 return on equity of 15.54% and a net margin of 7.22%.The firm had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same period in the previous year, the firm earned $1.44 EPS. The business’s revenue was up 19.1% compared to the same quarter last year. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

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

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of research analysts recently commented on the company. Weiss Ratings raised Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, April 29th. Morgan Stanley reaffirmed an “underperform” rating and set a $190.00 price objective on shares of Steel Dynamics in a report on Tuesday, March 17th. Wells Fargo & Company increased their price objective on shares of Steel Dynamics from $207.00 to $235.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Barclays started coverage on shares of Steel Dynamics in a report on Thursday, May 21st. They set an “overweight” rating and a $270.00 price objective for the company. Finally, BMO Capital Markets increased their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Steel Dynamics presently has a consensus rating of “Moderate Buy” and a consensus target price of $219.36.

About Steel Dynamics

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.