Osmosis Investment Management UK Ltd Reduces Position in Steel Dynamics, Inc. $STLD

Osmosis Investment Management UK Ltd decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 44.2% in the second quarter, HoldingsChannel reports. The fund owned 30,533 shares of the basic materials company’s stock after selling 24,150 shares during the quarter. Osmosis Investment Management UK Ltd’s holdings in Steel Dynamics were worth $7,006,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of STLD. BlackRock Inc. bought a new stake in Steel Dynamics during the second quarter valued at about $2,844,501,000. Life Cycle Investment Partners Ltd bought a new position in shares of Steel Dynamics in the fourth quarter worth about $586,702,000. Norges Bank bought a new position in shares of Steel Dynamics in the fourth quarter worth about $564,590,000. Boston Partners lifted its position in shares of Steel Dynamics by 147.9% during the 4th quarter. Boston Partners now owns 1,793,630 shares of the basic materials company’s stock valued at $303,970,000 after buying an additional 1,070,042 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Steel Dynamics during the 2nd quarter valued at approximately $211,159,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $228.68 on Monday. 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, Inc. has a 12-month low of $126.23 and a 12-month high of $288.74. The stock has a 50-day moving average price of $245.06 and a 200 day moving average price of $222.52. The stock has a market capitalization of $32.78 billion, a P/E ratio of 20.73, a P/E/G ratio of 0.43 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 return on equity of 18.12% and a net margin of 7.83%.The company had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter last year, the company earned $2.01 EPS. The firm’s quarterly revenue was up 33.4% on a year-over-year basis. Equities research analysts forecast that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.53 per share. The ex-dividend date is Wednesday, September 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. Steel Dynamics’s dividend payout ratio (DPR) is presently 19.22%.

Analysts Set New Price Targets

Several research firms recently issued reports on STLD. Bank of America reduced their target price on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $256.00 to $260.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. KeyCorp reiterated an “overweight” rating on shares of Steel Dynamics in a research report on Wednesday, July 22nd. Weiss Ratings raised shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Finally, Morgan Stanley decreased their price objective on shares of Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.09.

Insider Activity

In other news, SVP James Stanley Anderson sold 10,000 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the transaction, the senior vice president owned 102,837 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.60% of the stock is currently owned by insiders.

About Steel Dynamics

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.