OFI Invest Asset Management Grows Stock Holdings in Steel Dynamics, Inc. $STLD

OFI Invest Asset Management lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 9.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,139 shares of the basic materials company’s stock after purchasing an additional 3,167 shares during the quarter. OFI Invest Asset Management’s holdings in Steel Dynamics were worth $5,039,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STLD. Bartlett & CO. Wealth Management LLC raised its stake in Steel Dynamics by 24.8% during the third quarter. Bartlett & CO. Wealth Management LLC now owns 377 shares of the basic materials company’s stock valued at $53,000 after buying an additional 75 shares during the last quarter. Harbour Capital Advisors LLC increased its holdings in shares of Steel Dynamics by 0.5% during the second quarter. Harbour Capital Advisors LLC now owns 14,828 shares of the basic materials company’s stock valued at $1,988,000 after acquiring an additional 80 shares in the last quarter. Blair William & Co. IL raised its position in shares of Steel Dynamics by 5.8% in the 2nd quarter. Blair William & Co. IL now owns 1,813 shares of the basic materials company’s stock worth $232,000 after purchasing an additional 100 shares during the last quarter. Toth Financial Advisory Corp boosted its stake in Steel Dynamics by 50.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 100 shares in the last quarter. Finally, Lifeworks Advisors LLC grew its position in Steel Dynamics by 6.6% during the 2nd quarter. Lifeworks Advisors LLC now owns 1,719 shares of the basic materials company’s stock valued at $220,000 after purchasing an additional 106 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the transaction, the senior vice president owned 117,068 shares of the company’s stock, valued at approximately $19,057,499.72. This represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.30% of the company’s stock.

Steel Dynamics Stock Up 0.8%

Shares of Steel Dynamics stock opened at $175.76 on Tuesday. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $176.98. The company has a quick ratio of 1.47, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $159.88 and its 200 day moving average is $142.07. The company has a market cap of $25.67 billion, a price-to-earnings ratio of 23.28, a price-to-earnings-growth ratio of 1.18 and a beta of 1.46.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. The business had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 EPS. Research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, December 31st. Steel Dynamics’s dividend payout ratio is 26.49%.

Analyst Ratings Changes

Several research analysts have issued reports on STLD shares. The Goldman Sachs Group set a $172.00 target price on shares of Steel Dynamics and gave the stock a “neutral” rating in a report on Friday, October 31st. Weiss Ratings restated a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 15th. BMO Capital Markets upped their price objective on Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Finally, Citigroup boosted their price target on Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Steel Dynamics has an average rating of “Moderate Buy” and a consensus price target of $176.89.

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.