Stance Capital LLC Has $1.37 Million Stock Holdings in Steel Dynamics, Inc. $STLD

Stance Capital LLC grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 5,245.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 8,072 shares of the basic materials company’s stock after acquiring an additional 7,921 shares during the quarter. Stance Capital LLC’s holdings in Steel Dynamics were worth $1,368,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Life Cycle Investment Partners Ltd bought a new position in Steel Dynamics in the fourth quarter valued at approximately $586,702,000. Norges Bank bought a new stake in Steel Dynamics during the fourth quarter worth $564,590,000. Boston Partners boosted its holdings in shares of Steel Dynamics by 147.9% in the 4th quarter. Boston Partners now owns 1,793,630 shares of the basic materials company’s stock valued at $303,970,000 after purchasing an additional 1,070,042 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Steel Dynamics by 92.4% in the 4th quarter. Hsbc Holdings PLC now owns 1,030,448 shares of the basic materials company’s stock valued at $174,609,000 after purchasing an additional 494,828 shares in the last quarter. Finally, Qube Research & Technologies Ltd bought a new position in shares of Steel Dynamics in the 2nd quarter valued at $48,746,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $249.91 on Friday. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $288.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The firm’s fifty day moving average is $239.04 and its 200-day moving average is $200.11. The firm has a market cap of $36.17 billion, a P/E ratio of 26.73, a P/E/G ratio of 0.50 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results 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). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the previous year, the business posted $1.44 earnings per share. The business’s revenue was up 19.1% on a year-over-year basis. Equities analysts expect that Steel Dynamics, Inc. will post 15.67 earnings per share 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 paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.8%. Steel Dynamics’s dividend payout ratio (DPR) is currently 22.67%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on STLD shares. KeyCorp upped their price objective on Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Bank of America decreased their price target on shares of Steel Dynamics from $285.00 to $280.00 and set a “neutral” rating on the stock in a report on Thursday. Morgan Stanley restated an “underperform” rating and set a $190.00 price objective on shares of Steel Dynamics in a research report on Tuesday, March 17th. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Finally, BMO Capital Markets upped their price target on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $227.18.

Insiders Place Their Bets

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the transaction, the senior vice president directly owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth W. Cornew sold 5,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total value of $1,124,350.00. Following the transaction, the director owned 31,299 shares in the company, valued at $7,038,206.13. The trade was a 13.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 22,125 shares of company stock worth $5,438,226. Company insiders own 6.60% of the company’s stock.

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.