WINTON GROUP Ltd Makes New $2.18 Million Investment in Steel Dynamics, Inc. $STLD

WINTON GROUP Ltd acquired a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,500 shares of the basic materials company’s stock, valued at approximately $2,180,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Keating Financial Advisory Services Inc. raised its holdings in Steel Dynamics by 27.1% during the 2nd quarter. Keating Financial Advisory Services Inc. now owns 197 shares of the basic materials company’s stock valued at $45,000 after buying an additional 42 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Steel Dynamics by 2.7% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,726 shares of the basic materials company’s stock worth $396,000 after acquiring an additional 45 shares during the last quarter. Jacobi Capital Management LLC increased its position in shares of Steel Dynamics by 1.6% in the fourth quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock valued at $599,000 after acquiring an additional 55 shares during the period. Hohimer Wealth Management LLC increased its position in shares of Steel Dynamics by 1.1% in the fourth quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock valued at $967,000 after acquiring an additional 61 shares during the period. Finally, Nilsine Partners LLC raised its stake in shares of Steel Dynamics by 6.8% during the second quarter. Nilsine Partners LLC now owns 969 shares of the basic materials company’s stock valued at $222,000 after acquiring an additional 62 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Up 1.1%

NASDAQ:STLD opened at $239.79 on Friday. Steel Dynamics, Inc. has a one year low of $129.41 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. The company’s 50-day simple moving average is $242.94 and its 200 day simple moving average is $226.71. The firm has a market capitalization of $34.37 billion, a P/E ratio of 21.74, a PEG ratio of 0.45 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share 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 business had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter last year, the firm earned $2.01 earnings per share. The business’s revenue for the quarter was up 33.4% on a year-over-year basis. As a group, analysts forecast that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is 19.22%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group increased their target price on shares of Steel Dynamics from $165.00 to $276.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Wells Fargo & Company dropped their price objective on Steel Dynamics from $275.00 to $255.00 and set an “overweight” rating for the company in a report on Monday, August 24th. Barclays lifted their price objective on Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Bank of America decreased their target price on Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised their price target on Steel Dynamics from $260.00 to $273.00 and gave the stock a “neutral” rating in a research note on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $258.45.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a steel producer and metals recycler headquartered in Fort Wayne, Indiana. Founded in 1993, the company operates electric arc furnaces that use recycled steel and other metallic inputs to manufacture a broad range of steel products. Its customers include companies in the construction, automotive, manufacturing, transportation, energy and appliance industries.

Steel Dynamics’ steel operations produce flat-rolled steel, structural steel, rail, engineered bar products and other specialty steel products.