Steel Dynamics, Inc. $STLD Shares Purchased by Osaic Holdings Inc.

Osaic Holdings Inc. raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 129.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,108 shares of the basic materials company’s stock after purchasing an additional 41,203 shares during the quarter. Osaic Holdings Inc.’s holdings in Steel Dynamics were worth $9,242,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Allworth Financial LP boosted its holdings in Steel Dynamics by 119.3% during the second quarter. Allworth Financial LP now owns 11,012 shares of the basic materials company’s stock worth $1,410,000 after buying an additional 5,991 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its position in shares of Steel Dynamics by 21.9% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 88,558 shares of the basic materials company’s stock valued at $11,336,000 after acquiring an additional 15,931 shares during the period. Edgestream Partners L.P. boosted its stake in shares of Steel Dynamics by 477.1% during the 2nd quarter. Edgestream Partners L.P. now owns 32,427 shares of the basic materials company’s stock worth $4,151,000 after acquiring an additional 26,808 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of Steel Dynamics by 1.2% during the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 163,399 shares of the basic materials company’s stock worth $20,917,000 after acquiring an additional 1,954 shares in the last quarter. Finally, Korea Investment CORP grew its holdings in shares of Steel Dynamics by 17.7% in the 2nd quarter. Korea Investment CORP now owns 133,975 shares of the basic materials company’s stock worth $17,150,000 after acquiring an additional 20,135 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on STLD. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 15th. KeyCorp boosted their price objective on shares of Steel Dynamics from $152.00 to $165.00 and gave the stock an “overweight” rating in a research report on Monday, October 27th. Wells Fargo & Company upped their price target on shares of Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, December 15th. UBS Group set a $165.00 price objective on Steel Dynamics in a research note on Tuesday, November 4th. Finally, Morgan Stanley upped their price objective on shares of Steel Dynamics from $145.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Steel Dynamics has an average rating of “Moderate Buy” and an average price target of $176.89.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Miguel Alvarez sold 8,251 shares of Steel Dynamics stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the transaction, the senior vice president owned 117,068 shares in the company, valued at approximately $19,057,499.72. This trade represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.30% of the company’s stock.

Steel Dynamics Trading Down 0.2%

Shares of STLD stock opened at $174.28 on Friday. The firm’s 50-day simple moving average is $159.27 and its 200-day simple moving average is $141.71. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.47. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $176.98. The firm has a market cap of $25.45 billion, a P/E ratio of 23.08, a PEG ratio of 1.17 and a beta of 1.47.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. Steel Dynamics’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.05 earnings per share. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is 26.49%.

Steel Dynamics 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.