Steel Dynamics, Inc. $STLD Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp boosted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 272,567 shares of the basic materials company’s stock after purchasing an additional 7,306 shares during the quarter. Van ECK Associates Corp’s holdings in Steel Dynamics were worth $62,543,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Nissay Asset Management Corp Japan increased its position in shares of Steel Dynamics by 2.1% in the second quarter. Nissay Asset Management Corp Japan now owns 18,542 shares of the basic materials company’s stock valued at $4,255,000 after buying an additional 390 shares in the last quarter. Navellier & Associates Inc. boosted its position in shares of Steel Dynamics by 3.5% in the 2nd quarter. Navellier & Associates Inc. now owns 30,747 shares of the basic materials company’s stock worth $7,055,000 after buying an additional 1,033 shares in the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of Steel Dynamics in the 2nd quarter worth about $12,342,000. Kingsview Wealth Management LLC acquired a new stake in Steel Dynamics in the 2nd quarter valued at about $1,594,000. Finally, Beacon Pointe Advisors LLC acquired a new stake in Steel Dynamics in the 2nd quarter valued at about $1,217,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Ratings Changes

STLD has been the subject of several recent research reports. Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. KeyCorp reaffirmed an “overweight” rating on shares of Steel Dynamics in a report on Wednesday, July 22nd. Bank of America lowered their price target on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. UBS Group raised their price objective on shares of Steel Dynamics from $165.00 to $276.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Finally, JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $256.00 to $260.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $257.27.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the sale, the senior vice president directly owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. This trade represents a 8.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Down 0.5%

STLD stock opened at $234.66 on Friday. The stock has a market capitalization of $33.63 billion, a P/E ratio of 21.27, a PEG ratio of 0.44 and a beta of 1.52. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18. Steel Dynamics, Inc. has a one year low of $126.88 and a one year high of $288.74. The company has a 50 day moving average price of $242.07 and a two-hundred day moving average price of $223.62.

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

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors 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 yield of 0.9%. Steel Dynamics’s dividend payout ratio is 19.22%.

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.