Fullerton Fund Management Co Ltd. Acquires Shares of 3,706 Steel Dynamics, Inc. $STLD

Fullerton Fund Management Co Ltd. acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the fourth quarter, HoldingsChannel reports. The fund acquired 3,706 shares of the basic materials company’s stock, valued at approximately $628,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC grew its holdings in Steel Dynamics by 1.6% in the 4th 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 holdings in shares of Steel Dynamics by 3.0% during the 4th quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock worth $335,000 after purchasing an additional 58 shares in the last quarter. Hohimer Wealth Management LLC grew its holdings in shares of Steel Dynamics by 1.1% during the 4th quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock worth $967,000 after purchasing an additional 61 shares in the last quarter. Wright Investors Service Inc. grew its holdings in shares of 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 purchasing an additional 64 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of Steel Dynamics by 4.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company’s stock worth $246,000 after purchasing an additional 70 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Kenneth W. Cornew sold 5,000 shares of the firm’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 sale, the director directly owned 31,299 shares of the company’s stock, valued at $7,038,206.13. This trade represents a 13.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Richard A. Poinsatte sold 2,300 shares of the firm’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 directly owned 28,618 shares in the company, valued at $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 22,125 shares of company stock valued at $5,438,227. 6.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on STLD. Citigroup increased their target price on Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. KeyCorp upped their price target on shares of Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a report on Wednesday, April 22nd. Wells Fargo & Company increased their price target on shares of Steel Dynamics from $235.00 to $293.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Weiss Ratings upgraded shares of Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Steel Dynamics has an average rating of “Moderate Buy” and an average price target of $224.64.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $274.29 on Wednesday. The stock’s 50-day simple moving average is $234.47 and its 200 day simple moving average is $198.46. The firm has a market capitalization of $39.70 billion, a PE ratio of 29.34, a price-to-earnings-growth ratio of 0.54 and a beta of 1.50. 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.

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). The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period last year, the business earned $1.44 earnings per share. On average, analysts anticipate that Steel Dynamics, Inc. will post 15.85 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.8%. Steel Dynamics’s dividend payout ratio (DPR) is 22.67%.

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.