Foster & Motley Inc. Makes New $6.67 Million Investment in Steel Dynamics, Inc. $STLD

Foster & Motley Inc. purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 29,051 shares of the basic materials company’s stock, valued at approximately $6,666,000.

Other hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC boosted its position in shares of Steel Dynamics by 307.5% in the first quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $102,000 after acquiring an additional 618 shares during the period. Acadian Asset Management LLC grew its position in Steel Dynamics by 82.7% in the 1st quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after purchasing an additional 1,578 shares during the last quarter. Jump Financial LLC acquired a new stake in Steel Dynamics in the 2nd quarter worth $1,019,000. Qube Research & Technologies Ltd bought a new position in shares of Steel Dynamics during the 2nd quarter worth about $48,746,000. Finally, Sei Investments Co. increased its holdings in shares of Steel Dynamics by 7.9% during the 2nd quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company’s stock worth $13,447,000 after purchasing an additional 7,712 shares during the period. Institutional investors own 82.41% of the company’s stock.

Insiders Place Their Bets

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the transaction, the senior vice president directly owned 102,837 shares in the company, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Down 3.2%

Shares of NASDAQ:STLD opened at $249.81 on Wednesday. Steel Dynamics, Inc. has a 12 month low of $124.77 and a 12 month high of $288.74. The company has a quick ratio of 1.45, a current ratio of 3.18 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average price is $248.10 and its two-hundred day moving average price is $221.61. The firm has a market cap of $35.81 billion, a P/E ratio of 22.65, a P/E/G ratio of 0.48 and a beta of 1.52.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.63 by $0.06. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The company had revenue of $6.09 billion for the quarter, compared to analyst estimates of $5.56 billion. During the same quarter last year, the firm earned $2.01 EPS. The company’s revenue for the quarter was up 33.4% on a year-over-year basis. As a group, research analysts forecast that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 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 of this dividend is Wednesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 19.22%.

Analysts Set New Price Targets

STLD has been the topic of a number of recent research reports. BMO Capital Markets lifted their target price on Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Morgan Stanley decreased their price objective 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. Bank of America lowered their price objective on Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Barclays raised their target price on Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Finally, The Goldman Sachs Group began coverage on Steel Dynamics in a research report on Wednesday, July 29th. They issued a “buy” rating and a $300.00 price target on the stock. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.09.

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.