Donoghue Forlines LLC Buys Shares of 13,384 Steel Dynamics, Inc. $STLD

Donoghue Forlines LLC bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 13,384 shares of the basic materials company’s stock, valued at approximately $2,268,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Baader Bank Aktiengesellschaft bought a new stake in Steel Dynamics during the 4th quarter valued at $1,043,000. Ameritas Advisory Services LLC raised its position in shares of Steel Dynamics by 5.2% in the 4th quarter. Ameritas Advisory Services LLC now owns 1,747 shares of the basic materials company’s stock worth $296,000 after acquiring an additional 86 shares in the last quarter. World Investment Advisors bought a new position in shares of Steel Dynamics in the 4th quarter worth $291,000. Versor Investments LP bought a new position in shares of Steel Dynamics in the 4th quarter worth $241,000. Finally, Bailard Inc. raised its position in shares of Steel Dynamics by 0.9% in the 4th quarter. Bailard Inc. now owns 102,031 shares of the basic materials company’s stock worth $17,289,000 after acquiring an additional 865 shares in the last quarter. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Trading Down 1.0%

Shares of NASDAQ:STLD opened at $234.68 on Friday. The business’s 50-day moving average is $197.24 and its 200 day moving average is $182.16. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $243.73. The firm has a market capitalization of $33.96 billion, a P/E ratio of 25.10, a P/E/G ratio of 0.50 and a beta of 1.48. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33.

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 the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the company earned $1.44 earnings per share. The company’s quarterly revenue was up 19.1% on a year-over-year basis. On average, research analysts predict that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal 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. This represents a $2.12 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is currently 22.67%.

Wall Street Analyst Weigh In

Several research firms have recently commented on STLD. Morgan Stanley reissued an “underperform” rating and issued a $190.00 price target on shares of Steel Dynamics in a research report on Tuesday, March 17th. Wells Fargo & Company boosted their price target on Steel Dynamics from $207.00 to $235.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. BMO Capital Markets boosted their price target on Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Wall Street Zen raised Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Finally, JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Six analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $214.30.

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 transaction, the senior vice president directly owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This represents a 7.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 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 transaction, the director directly owned 31,299 shares in the company, valued at $7,038,206.13. This represents a 13.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,125 shares of company stock valued at $2,751,227 in the last ninety days. Corporate 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.