Christine Messmer PC Invests $381,000 in Steel Dynamics, Inc. $STLD

Christine Messmer PC bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 2,246 shares of the basic materials company’s stock, valued at approximately $381,000.

Several other large investors have also added to or reduced their stakes in STLD. Nordea Investment Management AB increased its position in shares of Steel Dynamics by 12.1% in the third quarter. Nordea Investment Management AB now owns 2,340,480 shares of the basic materials company’s stock valued at $322,518,000 after acquiring an additional 252,108 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of 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 valued at $340,289,000 after buying an additional 72,122 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Steel Dynamics by 1.0% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,046,791 shares of the basic materials company’s stock valued at $145,953,000 after buying an additional 10,537 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Steel Dynamics by 34.7% during the 2nd quarter. Bank of America Corp DE now owns 1,028,947 shares of the basic materials company’s stock worth $131,715,000 after purchasing an additional 264,827 shares during the last quarter. Finally, Boston Partners acquired a new position in shares of Steel Dynamics during the 3rd quarter worth about $101,254,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Citigroup raised their price objective on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. BMO Capital Markets increased their price target on Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. KeyCorp increased their price target on Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Finally, Morgan Stanley restated an “underperform” rating and issued a $190.00 price target on shares of Steel Dynamics in a research note on Tuesday, March 17th. Six 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $214.30.

Insiders Place Their Bets

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

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD opened at $229.82 on Tuesday. 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 $230.94. The stock has a market capitalization of $33.14 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 0.49 and a beta of 1.48. The company’s 50 day simple moving average is $190.61 and its 200 day simple moving average is $177.21.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data 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 firm had revenue of $5.20 billion for 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 company’s revenue was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.44 EPS. As a group, research analysts predict that Steel Dynamics, Inc. will post 14.77 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Tuesday, March 31st were given a dividend of $0.53 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s dividend payout ratio is presently 22.67%.

Steel Dynamics Company 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.