Canada Post Corp Registered Pension Plan Acquires 4,835 Shares of Steel Dynamics, Inc. $STLD

Canada Post Corp Registered Pension Plan raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 70.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,692 shares of the basic materials company’s stock after purchasing an additional 4,835 shares during the quarter. Canada Post Corp Registered Pension Plan’s holdings in Steel Dynamics were worth $1,981,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of STLD. Cornerstone Planning Group LLC raised its position in Steel Dynamics by 1,636.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 180 shares during the last quarter. Sound Income Strategies LLC raised its position 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. Torren Management LLC bought a new position in Steel Dynamics in the 4th quarter valued at $34,000. Covestor Ltd raised its position in Steel Dynamics by 44.3% in the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 93 shares during the last quarter. Finally, Nvest Wealth Strategies Inc. bought a new position in Steel Dynamics in the 4th quarter valued at $42,000. Institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on STLD shares. Bank of America downgraded Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 price objective for the company. in a research report on Thursday, April 30th. Citigroup lifted their price objective on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research report on Wednesday, April 22nd. KeyCorp lifted their price objective on Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a research report on Wednesday, April 22nd. BMO Capital Markets lifted their price objective on Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $214.30.

Steel Dynamics Stock Performance

STLD stock opened at $229.34 on Monday. The company has a market cap of $33.19 billion, a P/E ratio of 24.53, a PEG ratio of 0.49 and a beta of 1.48. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $243.73. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $197.95 and a 200-day moving average of $182.67.

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 analysts’ consensus estimates of $2.79 by ($0.01). The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The company’s revenue was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 EPS. As a group, equities research analysts expect that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. Steel Dynamics’s payout ratio is presently 22.67%.

Insider Transactions at Steel Dynamics

In related news, Director Kenneth W. Cornew sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 23rd. The stock was 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 in the company, valued at approximately $7,038,206.13. This represents a 13.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Richard A. Poinsatte sold 2,300 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the sale, the senior vice president owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This represents a 7.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 12,125 shares of company stock worth $2,751,227 over the last 90 days. 6.60% of the stock is owned by insiders.

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.