UniSuper Management Pty Ltd Acquires 7,019 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

UniSuper Management Pty Ltd increased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 372.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,906 shares of the basic materials company’s stock after acquiring an additional 7,019 shares during the period. UniSuper Management Pty Ltd’s holdings in Steel Dynamics were worth $1,320,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. HB Wealth Management LLC lifted its stake in shares of Steel Dynamics by 33.6% in the 4th quarter. HB Wealth Management LLC now owns 2,963 shares of the basic materials company’s stock valued at $350,000 after purchasing an additional 745 shares during the last quarter. CHICAGO TRUST Co NA purchased a new stake in Steel Dynamics during the 4th quarter valued at $222,000. Raymond James & Associates raised its holdings in Steel Dynamics by 32.1% during the 4th quarter. Raymond James & Associates now owns 77,276 shares of the basic materials company’s stock valued at $9,126,000 after buying an additional 18,762 shares during the period. CVA Family Office LLC bought a new stake in Steel Dynamics in the fourth quarter worth $28,000. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in Steel Dynamics by 57.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 39,771 shares of the basic materials company’s stock worth $4,697,000 after buying an additional 14,533 shares during the period. 82.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Bank of America reduced their target price on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Jefferies Financial Group initiated coverage on shares of Steel Dynamics in a research report on Monday, May 20th. They issued a “hold” rating and a $150.00 price objective on the stock. BMO Capital Markets decreased their price objective on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. upped their target price on Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and an average target price of $133.86.

Insider Transactions at Steel Dynamics

In related news, SVP Christopher A. Graham sold 21,000 shares of Steel Dynamics stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the completion of the sale, the senior vice president now directly owns 60,415 shares in the company, valued at $8,265,376.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.00% of the company’s stock.

Steel Dynamics Trading Down 0.9 %

STLD stock traded down $1.15 during trading on Tuesday, hitting $126.62. The company had a trading volume of 1,336,511 shares, compared to its average volume of 1,244,229. Steel Dynamics, Inc. has a 52-week low of $95.53 and a 52-week high of $151.34. The company has a 50 day simple moving average of $128.52 and a 200-day simple moving average of $129.79. The firm has a market capitalization of $19.90 billion, a P/E ratio of 8.70 and a beta of 1.35. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same period last year, the company posted $4.81 earnings per share. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, research analysts forecast that Steel Dynamics, Inc. will post 11.44 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Sunday, June 30th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date was Friday, June 28th. Steel Dynamics’s payout ratio is 12.64%.

Steel Dynamics Profile

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.