Regal Partners Ltd Has $14.31 Million Position in Steel Dynamics, Inc. $STLD

Regal Partners Ltd increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 263.6% in the first quarter, Holdings Channel reports. The institutional investor owned 79,493 shares of the basic materials company’s stock after buying an additional 57,632 shares during the period. Steel Dynamics comprises 0.8% of Regal Partners Ltd’s portfolio, making the stock its 28th biggest holding. Regal Partners Ltd’s holdings in Steel Dynamics were worth $14,309,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of STLD. Strs Ohio increased its stake in Steel Dynamics by 7.3% in the 4th quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock valued at $26,075,000 after buying an additional 10,519 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Steel Dynamics by 3.7% during the 4th 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 buying an additional 72,122 shares in the last quarter. Econ Financial Services Corp acquired a new position in shares of Steel Dynamics during the 4th quarter worth about $1,171,000. Canada Post Corp Registered Pension Plan boosted its stake in shares of Steel Dynamics by 70.5% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 11,692 shares of the basic materials company’s stock worth $1,981,000 after buying an additional 4,835 shares during the last quarter. Finally, Ethic Inc. grew its holdings in shares of Steel Dynamics by 56.5% in the 4th quarter. Ethic Inc. now owns 18,548 shares of the basic materials company’s stock valued at $3,143,000 after acquiring an additional 6,695 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD opened at $259.74 on Wednesday. The company has a market cap of $37.59 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 0.47 and a beta of 1.53. The firm has a 50-day moving average of $247.52 and a 200-day moving average of $212.59. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $288.74. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The company had revenue of $6.09 billion for the quarter, compared to analysts’ expectations of $5.56 billion. During the same period in the prior year, the firm earned $2.01 EPS. Steel Dynamics’s quarterly revenue was up 33.4% compared to the same quarter last year. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 17.16 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, June 30th. Steel Dynamics’s payout ratio is 19.22%.

Insider Activity at Steel Dynamics

In other news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of the transaction, the senior vice president directly owned 102,837 shares in the company, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the transaction, the senior vice president directly owned 28,618 shares in the company, valued at $6,699,759.98. The trade was a 7.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 6.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. KeyCorp reaffirmed an “overweight” rating on shares of Steel Dynamics in a research report on Wednesday, July 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 report on Wednesday, April 22nd. Wells Fargo & Company decreased their price target on Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. Morgan Stanley lowered their price target on Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. Finally, Citigroup upped their price objective on Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $237.36.

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.