Y Intercept Hong Kong Ltd Makes New $519,000 Investment in Steel Dynamics, Inc. $STLD

Y Intercept Hong Kong Ltd acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 2,886 shares of the basic materials company’s stock, valued at approximately $519,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Research Global Investors raised its position in shares of Steel Dynamics by 0.3% during the fourth quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company’s stock worth $613,926,000 after acquiring an additional 9,959 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new position in shares of Steel Dynamics during the fourth quarter valued at $586,702,000. Norges Bank bought a new position in Steel Dynamics in the fourth quarter valued at about $564,590,000. Robeco Institutional Asset Management B.V. boosted its holdings in Steel Dynamics by 3.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock valued at $340,289,000 after acquiring an additional 72,122 shares during the last quarter. Finally, Invesco Ltd. increased its position in Steel Dynamics by 6.3% in the fourth quarter. Invesco Ltd. now owns 1,965,092 shares of the basic materials company’s stock worth $332,985,000 after purchasing an additional 116,379 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Miguel Alvarez sold 4,825 shares of Steel Dynamics stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the transaction, the senior vice president directly owned 122,257 shares of the company’s stock, valued at $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the completion of the transaction, the senior vice president directly owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This trade represents a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 22,125 shares of company stock valued at $5,438,226. 6.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

STLD has been the subject of several recent research reports. Wells Fargo & Company dropped their price objective on Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating for the company in a report on Thursday, June 18th. Bank of America reduced their target price on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Citigroup boosted their price target on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Finally, Barclays assumed coverage on shares of Steel Dynamics in a report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $234.55.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $234.14 on Tuesday. The stock has a market cap of $33.88 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 0.44 and a beta of 1.53. The stock has a 50-day moving average of $246.11 and a 200-day moving average of $207.36. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $288.74.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm’s revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.44 EPS. As a group, sell-side analysts expect that Steel Dynamics, Inc. will post 16.73 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were issued a $0.53 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.9%. Steel Dynamics’s dividend payout ratio (DPR) is 22.67%.

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.