Virtu Financial LLC Makes New Investment in Steel Dynamics, Inc. $STLD

Virtu Financial LLC purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 6,025 shares of the basic materials company’s stock, valued at approximately $1,021,000.

Other institutional investors also recently bought and sold shares of the company. Prosperity Bancshares Inc purchased a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $25,000. MV Capital Management Inc. acquired a new position in Steel Dynamics in the 4th quarter valued at $27,000. Sound Income Strategies LLC raised its stake in Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 150 shares during the last quarter. DV Equities LLC purchased a new position in Steel Dynamics in the 4th quarter valued at $33,000. Finally, Torren Management LLC purchased a new position in Steel Dynamics in the 4th quarter valued at $34,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $249.91 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. The firm has a market cap of $36.17 billion, a PE ratio of 26.73, a price-to-earnings-growth ratio of 0.52 and a beta of 1.50. The company has a 50-day moving average of $239.04 and a two-hundred day moving average of $200.34. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $288.74.

Steel Dynamics (NASDAQ:STLD) last released its earnings results 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). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the firm earned $1.44 earnings per share. The business’s revenue was up 19.1% compared to the same quarter last year. On average, analysts predict that Steel Dynamics, Inc. will post 15.67 EPS for the current year.

Steel Dynamics Announces Dividend

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 paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio (DPR) is currently 22.67%.

Insider Activity at Steel Dynamics

In related news, SVP Miguel Alvarez sold 4,825 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total value of $1,088,423.50. Following the completion of the sale, the senior vice president directly owned 122,257 shares of the company’s stock, valued at $27,578,734.06. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kenneth W. Cornew sold 5,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, 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 position. The SEC filing for this sale provides additional information. Insiders have sold 22,125 shares of company stock valued at $5,438,226 over the last quarter. 6.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Bank of America lowered their price target on shares of Steel Dynamics from $285.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday. Jefferies Financial Group reissued a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. KeyCorp boosted their target price on Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Morgan Stanley restated an “underperform” rating and issued a $190.00 price target on shares of Steel Dynamics in a research report on Tuesday, March 17th. Finally, Wells Fargo & Company cut their price target on Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating for the company in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Steel Dynamics presently has an average rating of “Moderate Buy” and an average target price of $227.18.

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.