7,512 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Bought by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 7,512 shares of the basic materials company’s stock, valued at approximately $887,000.

A number of other institutional investors have also recently bought and sold shares of STLD. Private Advisor Group LLC raised its stake in shares of Steel Dynamics by 5.3% in the third quarter. Private Advisor Group LLC now owns 3,105 shares of the basic materials company’s stock valued at $333,000 after buying an additional 156 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in Steel Dynamics by 0.3% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 64,508 shares of the basic materials company’s stock worth $6,917,000 after buying an additional 166 shares during the period. Ieq Capital LLC raised its holdings in Steel Dynamics by 19.3% during the 3rd quarter. Ieq Capital LLC now owns 3,152 shares of the basic materials company’s stock valued at $338,000 after acquiring an additional 510 shares during the period. Sigma Planning Corp purchased a new stake in shares of Steel Dynamics during the third quarter worth $388,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of Steel Dynamics by 1.4% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 148,068 shares of the basic materials company’s stock worth $15,876,000 after acquiring an additional 2,037 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In other news, SVP Christopher A. Graham sold 21,000 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the sale, the senior vice president now directly owns 60,415 shares in the company, valued at approximately $8,265,376.15. The sale was disclosed in a filing with the SEC, which is available through this link. 6.00% of the stock is currently owned by company insiders.

Steel Dynamics Price Performance

Shares of STLD stock traded down $0.23 during trading hours on Friday, hitting $133.34. 628,884 shares of the company’s stock were exchanged, compared to its average volume of 1,052,721. The company has a market capitalization of $20.95 billion, a PE ratio of 9.16 and a beta of 1.47. The company has a current ratio of 2.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.29. Steel Dynamics, Inc. has a 12-month low of $90.55 and a 12-month high of $151.34. The business’s 50 day simple moving average is $138.76 and its 200-day simple moving average is $126.19.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, beating the consensus estimate of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the business posted $4.01 EPS. Steel Dynamics’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 12.44 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, June 28th. Steel Dynamics’s dividend payout ratio (DPR) is 12.64%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on STLD. Jefferies Financial Group initiated coverage on Steel Dynamics in a research report on Monday, May 20th. They set a “hold” rating and a $150.00 price target on the stock. Citigroup increased their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Finally, BMO Capital Markets lifted their price objective on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $125.29.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.