OP Asset Management Ltd Purchases Shares of 14,265 Steel Dynamics, Inc. $STLD

OP Asset Management Ltd purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 14,265 shares of the basic materials company’s stock, valued at approximately $2,568,000.

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

Insider Activity at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction dated 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 owned 28,618 shares in the company, valued at approximately $6,699,759.98. This represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the sale, the senior vice president owned 122,257 shares of the company’s stock, valued at $27,578,734.06. This trade represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 22,125 shares of company stock valued at $5,438,226 over the last quarter. Corporate insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD opened at $245.49 on Friday. The firm has a market capitalization of $35.53 billion, a P/E ratio of 26.26, a P/E/G ratio of 0.48 and a beta of 1.50. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $288.74. The stock has a 50 day moving average price of $244.38 and a two-hundred day moving average price of $202.86. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly 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). The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The company’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.44 EPS. Equities analysts forecast that Steel Dynamics, Inc. will post 16.78 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics’s payout ratio is 22.67%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. KeyCorp boosted their target price on Steel Dynamics from $241.00 to $262.00 and gave the company an “overweight” rating in a research report on Wednesday. Barclays initiated coverage on Steel Dynamics in a research note on Thursday, May 21st. They set an “overweight” rating and a $270.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Finally, Citigroup boosted their price target on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $236.36.

Steel Dynamics Company Profile

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.