Integrated Advisors Network LLC Makes New $447,000 Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

Integrated Advisors Network LLC bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 3,788 shares of the basic materials company’s stock, valued at approximately $447,000.

A number of other large investors have also made changes to their positions in STLD. Royal London Asset Management Ltd. raised its position in Steel Dynamics by 0.3% in the third quarter. Royal London Asset Management Ltd. now owns 3,745,326 shares of the basic materials company’s stock worth $401,574,000 after purchasing an additional 12,208 shares in the last quarter. Morgan Stanley increased its holdings in shares of Steel Dynamics by 0.8% in the third quarter. Morgan Stanley now owns 2,612,430 shares of the basic materials company’s stock valued at $280,105,000 after purchasing an additional 19,833 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Steel Dynamics by 6.4% in the third quarter. Northern Trust Corp now owns 2,024,978 shares of the basic materials company’s stock valued at $217,118,000 after purchasing an additional 122,507 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Steel Dynamics by 165.4% in the third quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock valued at $212,447,000 after purchasing an additional 1,255,751 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $221,817,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Trading Down 1.2 %

Shares of NASDAQ STLD opened at $125.00 on Wednesday. The company’s fifty day moving average is $132.99 and its 200-day moving average is $128.18. The stock has a market cap of $19.64 billion, a price-to-earnings ratio of 8.59 and a beta of 1.40. Steel Dynamics, Inc. has a twelve month low of $95.53 and a twelve month high of $151.34. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The business’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the firm posted $4.01 earnings per share. Equities research analysts predict that Steel Dynamics, Inc. will post 12.2 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Sunday, June 30th will be given a $0.46 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.84 annualized dividend and a yield of 1.47%. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Insider Activity at Steel Dynamics

In related news, SVP Christopher A. Graham sold 21,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total value of $2,873,010.00. Following the sale, the senior vice president now directly owns 60,415 shares of the company’s stock, valued at approximately $8,265,376.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

STLD has been the subject of a number of research reports. BMO Capital Markets lowered their price target on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a report on Tuesday. Citigroup raised their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group initiated coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They issued a “hold” rating and a $150.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, Steel Dynamics presently has an average rating of “Hold” and a consensus price target of $127.43.

About Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.