Twin Capital Management Inc. Acquires Shares of 2,475 Steel Dynamics, Inc. $STLD

Twin Capital Management Inc. bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,475 shares of the basic materials company’s stock, valued at approximately $446,000.

Other hedge funds also recently made changes to their positions in the company. Jacobi Capital Management LLC raised 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 buying an additional 55 shares in the last quarter. Optas LLC grew its position in Steel Dynamics by 3.0% during the fourth quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock worth $335,000 after buying an additional 58 shares in the last quarter. Hohimer Wealth Management LLC grew its position in Steel Dynamics by 1.1% during the fourth quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock worth $967,000 after buying an additional 61 shares in the last quarter. Wright Investors Service Inc. increased its stake in Steel Dynamics by 1.2% during the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock worth $941,000 after acquiring an additional 64 shares during the period. Finally, Kestra Private Wealth Services LLC increased its stake in Steel Dynamics by 2.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 2,396 shares of the basic materials company’s stock worth $431,000 after acquiring an additional 64 shares during the period. 82.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

STLD has been the subject of a number of recent analyst reports. Barclays initiated coverage on Steel Dynamics in a research report on Thursday, May 21st. They set an “overweight” rating and a $270.00 target price for the company. Wells Fargo & Company decreased their price target on Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating on the stock in a research report on Thursday, June 18th. Bank of America dropped their price target on Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. KeyCorp upped their price objective on shares of Steel Dynamics from $241.00 to $262.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Steel Dynamics from $262.00 to $256.00 and set a “neutral” rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.18.

Steel Dynamics Price Performance

Shares of STLD stock opened at $235.51 on Friday. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $288.74. The company has a market cap of $34.08 billion, a P/E ratio of 25.19, a P/E/G ratio of 0.44 and a beta of 1.53. The business has a fifty day simple moving average of $245.95 and a 200 day simple moving average of $208.80.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data 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 business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the business earned $1.44 earnings per share. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. On average, sell-side analysts forecast that Steel Dynamics, Inc. will post 17.27 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were paid 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 was Tuesday, June 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 22.67%.

Insider Activity at Steel Dynamics

In related news, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of the transaction, the senior vice president directly owned 102,837 shares in the company, valued at $27,632,301.90. This represents a 8.86% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth W. Cornew sold 5,000 shares of the stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the completion of the transaction, the director directly owned 31,299 shares of the company’s stock, valued at approximately $7,038,206.13. The trade was a 13.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 22,125 shares of company stock valued at $5,438,226. 6.60% of the stock is currently owned by company insiders.

About Steel Dynamics

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.