Fairvoy Private Wealth LLC Purchases Shares of 4,858 Steel Dynamics, Inc. $STLD

Fairvoy Private Wealth LLC purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the first quarter, HoldingsChannel.com reports. The institutional investor purchased 4,858 shares of the basic materials company’s stock, valued at approximately $874,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Research Global Investors raised its stake in Steel Dynamics by 0.3% during the 4th quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company’s stock valued at $613,926,000 after acquiring an additional 9,959 shares in the last quarter. Life Cycle Investment Partners Ltd acquired a new position in Steel Dynamics during the 4th quarter worth $586,702,000. Norges Bank bought a new position in shares of Steel Dynamics in the fourth quarter worth $564,590,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Steel Dynamics by 3.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock worth $340,289,000 after purchasing an additional 72,122 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Steel Dynamics by 6.3% during the fourth quarter. Invesco Ltd. now owns 1,965,092 shares of the basic materials company’s stock valued at $332,985,000 after purchasing an additional 116,379 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $251.00 on Friday. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $288.74. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $36.32 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 0.47 and a beta of 1.50. The firm has a 50-day moving average of $243.35 and a two-hundred day moving average of $202.56.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). The business had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter last year, the business posted $1.44 EPS. As a group, analysts expect that Steel Dynamics, Inc. will post 16.91 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be given a $0.53 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.8%. Steel Dynamics’s payout ratio is 22.67%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on STLD. Jefferies Financial Group reaffirmed a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Citigroup increased their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, Morgan Stanley boosted their target price on Steel Dynamics from $227.00 to $270.00 and gave the stock an “equal weight” rating in a report on Monday. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $236.36.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, Director Kenneth W. Cornew sold 5,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $7,038,206.13. This represents a 13.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the sale, the senior vice president owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This trade represents a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 22,125 shares of company stock worth $5,438,226. 6.60% of the stock is owned by corporate insiders.

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.