Healthcare of Ontario Pension Plan Trust Fund Purchases 147,869 Shares of Steel Dynamics, Inc. $STLD

Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2,699.3% during the fourth quarter, HoldingsChannel reports. The firm owned 153,347 shares of the basic materials company’s stock after buying an additional 147,869 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Steel Dynamics were worth $25,985,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STLD. Life Cycle Investment Partners Ltd bought a new position in shares of Steel Dynamics during the fourth quarter worth $586,702,000. Norges Bank bought a new position in shares of Steel Dynamics during the fourth quarter worth $564,590,000. Boston Partners boosted its position in shares of Steel Dynamics by 147.9% during the fourth quarter. Boston Partners now owns 1,793,630 shares of the basic materials company’s stock worth $303,970,000 after purchasing an additional 1,070,042 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Steel Dynamics during the second quarter worth $48,746,000. Finally, Lord Abbett & CO. LLC boosted its position in shares of Steel Dynamics by 28.0% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,629,401 shares of the basic materials company’s stock worth $276,102,000 after purchasing an additional 356,507 shares in the last quarter. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Trading Down 3.7%

STLD opened at $272.19 on Tuesday. The stock has a market capitalization of $39.39 billion, a P/E ratio of 29.11, a P/E/G ratio of 0.56 and a beta of 1.50. Steel Dynamics, Inc. has a 12 month low of $119.89 and a 12 month high of $288.74. The firm’s fifty day simple moving average is $232.58 and its 200 day simple moving average is $197.70. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company’s revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.44 earnings per share. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 15.85 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.53 per share. 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 payout ratio is 22.67%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were 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 of the company’s stock, valued at $6,699,759.98. The trade was a 7.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Kenneth W. Cornew sold 5,000 shares of the business’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the sale, the director directly owned 31,299 shares in the company, valued at $7,038,206.13. This trade represents a 13.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 22,125 shares of company stock valued at $5,438,227. Corporate insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on STLD shares. Citigroup lifted their price target on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Bank of America cut shares of Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 price target on the stock. in a research report on Thursday, April 30th. Wells Fargo & Company boosted their price objective on shares of Steel Dynamics from $235.00 to $293.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Finally, Wall Street Zen raised 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 issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $224.64.

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.