4,819 Shares in Steel Dynamics, Inc. $STLD Bought by North Dakota State Investment Board

North Dakota State Investment Board acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 4,819 shares of the basic materials company’s stock, valued at approximately $817,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sound Income Strategies LLC grew its position in Steel Dynamics by 1,500.0% during the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 150 shares during the last quarter. Cornerstone Planning Group LLC grew its position in Steel Dynamics by 1,636.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 180 shares during the last quarter. Torren Management LLC bought a new stake in Steel Dynamics during the 4th quarter worth $34,000. Nvest Wealth Strategies Inc. bought a new stake in Steel Dynamics during the 4th quarter worth $42,000. Finally, Eagle Bay Advisors LLC bought a new stake in Steel Dynamics during the 4th quarter worth $45,000. Institutional investors own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In related news, 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 transaction of $538,453.00. Following the sale, the senior vice president owned 28,618 shares in the company, valued at $6,699,759.98. This represents a 7.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kenneth W. Cornew sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total value of $1,124,350.00. Following the sale, the director 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 worth $2,751,227 in the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Steel Dynamics Trading Up 2.2%

NASDAQ STLD opened at $228.30 on Thursday. The business’s 50-day moving average price is $200.47 and its two-hundred day moving average price is $184.06. Steel Dynamics, Inc. has a 12 month low of $119.89 and a 12 month high of $243.73. The firm has a market capitalization of $33.04 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 0.48 and a beta of 1.48. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the firm posted $1.44 EPS. The company’s quarterly revenue was up 19.1% on a year-over-year basis. On average, analysts expect that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Dividend Announcement

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

Analyst Upgrades and Downgrades

STLD has been the topic of a number of research reports. Wells Fargo & Company boosted their price objective on Steel Dynamics from $207.00 to $235.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Weiss Ratings upgraded Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, April 29th. KeyCorp upped their price target on Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. Finally, Citigroup upped their price target on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Steel Dynamics currently has a consensus rating of “Hold” and an average price target of $214.30.

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.