OMERS ADMINISTRATION Corp Has $1.53 Million Stock Position in Steel Dynamics, Inc. $STLD

OMERS ADMINISTRATION Corp boosted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 33.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,491 shares of the basic materials company’s stock after buying an additional 2,125 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Steel Dynamics were worth $1,528,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Capital Research Global Investors increased its holdings in shares of Steel Dynamics by 0.3% in the 4th quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company’s stock valued at $613,926,000 after purchasing an additional 9,959 shares during the period. Life Cycle Investment Partners Ltd bought a new stake in shares of Steel Dynamics in the 4th quarter valued at approximately $586,702,000. Norges Bank bought a new stake in Steel Dynamics in the fourth quarter worth approximately $564,590,000. Robeco Institutional Asset Management B.V. grew its position in Steel Dynamics by 3.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock worth $340,289,000 after acquiring an additional 72,122 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Steel Dynamics by 6.3% during the 4th quarter. Invesco Ltd. now owns 1,965,092 shares of the basic materials company’s stock worth $332,985,000 after purchasing an additional 116,379 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Buying and Selling

In other news, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the sale, the senior vice president directly owned 28,618 shares in the company, valued at approximately $6,699,759.98. The trade was a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP James Stanley Anderson sold 10,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the transaction, the senior vice president directly owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. This trade represents a 8.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

STLD has been the topic of several recent research reports. Morgan Stanley cut their target price on Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. KeyCorp reissued an “overweight” rating on shares of Steel Dynamics in a report on Wednesday, July 22nd. Wells Fargo & Company cut their price objective on Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings raised Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Finally, Bank of America lowered their price target on Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.00.

Steel Dynamics Stock Down 2.8%

Shares of STLD stock opened at $252.34 on Thursday. Steel Dynamics, Inc. has a 12 month low of $119.89 and a 12 month high of $288.74. The firm has a market cap of $36.52 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 0.49 and a beta of 1.53. The stock has a 50 day moving average of $248.00 and a 200-day moving average of $213.15. The company has a quick ratio of 1.45, a current ratio of 3.18 and a debt-to-equity ratio of 0.45.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.63 by $0.06. The business had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $5.56 billion. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. Steel Dynamics’s quarterly revenue was up 33.4% on a year-over-year basis. During the same quarter last year, the company posted $2.01 earnings per share. On average, equities analysts predict that Steel Dynamics, Inc. will post 17.16 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were issued a $0.53 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.8%. Steel Dynamics’s dividend payout ratio is 19.22%.

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.