M. Kulyk & Associates LLC Invests $936,000 in Steel Dynamics, Inc. $STLD

M. Kulyk & Associates LLC purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the 2nd quarter, HoldingsChannel reports. The fund purchased 4,078 shares of the basic materials company’s stock, valued at approximately $936,000.

A number of other institutional investors have also added to or reduced their stakes in STLD. Prosperity Bancshares Inc bought a new position in Steel Dynamics in the fourth quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new stake in shares of Steel Dynamics during the second quarter valued at approximately $26,000. MV Capital Management Inc. acquired a new position in shares of Steel Dynamics during the fourth quarter worth approximately $27,000. Cedar Mountain Advisors LLC acquired a new position in shares of Steel Dynamics during the first quarter worth approximately $31,000. Finally, DV Equities LLC bought a new position in shares of Steel Dynamics in the 4th quarter worth $33,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Trading Down 3.2%

Shares of Steel Dynamics stock opened at $249.81 on Wednesday. The stock has a fifty day simple moving average of $248.10 and a 200 day simple moving average of $221.61. Steel Dynamics, Inc. has a 12-month low of $124.77 and a 12-month high of $288.74. The company has a market capitalization of $35.81 billion, a P/E ratio of 22.65, a price-to-earnings-growth ratio of 0.48 and a beta of 1.52. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The business had revenue of $6.09 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same period in the prior year, the firm posted $2.01 EPS. Steel Dynamics’s quarterly revenue was up 33.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 17.16 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be issued a $0.53 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. Steel Dynamics’s dividend payout ratio is currently 19.22%.

Analysts Set New Price Targets

Several research firms recently issued reports on STLD. KeyCorp reissued an “overweight” rating on shares of Steel Dynamics in a research report on Wednesday, July 22nd. Barclays raised their price objective on shares of Steel Dynamics from $270.00 to $272.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company reduced their price objective on shares of Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. Bank of America decreased their target price on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Finally, Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $259.09.

Insider Activity at Steel Dynamics

In related news, SVP James Stanley Anderson sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president directly owned 102,837 shares of the company’s stock, valued at $27,632,301.90. This trade represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.60% of the stock is currently owned by corporate 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.