Steel Dynamics, Inc. $STLD Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,770 shares of the basic materials company’s stock after acquiring an additional 3,240 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Steel Dynamics were worth $9,111,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sound Income Strategies LLC raised its stake 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 in the last quarter. Torren Management LLC purchased a new position in Steel Dynamics during the 4th quarter worth $34,000. Nvest Wealth Strategies Inc. purchased a new position in Steel Dynamics during the 4th quarter worth $42,000. Eagle Bay Advisors LLC purchased a new position in Steel Dynamics during the 4th quarter worth $45,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in Steel Dynamics during the 3rd quarter worth $46,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Miguel Alvarez sold 4,825 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total value of $1,088,423.50. Following the completion of the transaction, the senior vice president owned 122,257 shares of the company’s stock, valued at $27,578,734.06. The trade was a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the completion of the transaction, the senior vice president directly owned 28,618 shares of the company’s stock, valued at approximately $6,699,759.98. This represents a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,125 shares of company stock valued at $2,751,227 over the last 90 days. Insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Down 3.0%

STLD stock opened at $268.50 on Friday. The company has a market cap of $38.86 billion, a P/E ratio of 28.72, a P/E/G ratio of 0.57 and a beta of 1.50. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $280.49. The company’s 50-day moving average price is $220.99 and its 200 day moving average price is $192.55. 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 announced its earnings results 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). The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The business’s revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 EPS. On average, research analysts expect 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. Stockholders of record on Tuesday, June 30th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics’s payout ratio is currently 22.67%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on STLD. Jefferies Financial Group reissued a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Weiss Ratings raised shares of Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, April 29th. Barclays began coverage on shares of Steel Dynamics in a research report on Thursday, May 21st. They set an “overweight” rating and a $270.00 price objective on the stock. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Finally, BMO Capital Markets raised their price objective on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $224.64.

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.