Virtu Financial LLC Invests $1.02 Million in Steel Dynamics, Inc. $STLD

Virtu Financial LLC bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,025 shares of the basic materials company’s stock, valued at approximately $1,021,000.

Several other institutional investors and hedge funds also recently modified their holdings of STLD. Prosperity Bancshares Inc acquired a new position in shares of Steel Dynamics during the 4th quarter worth approximately $25,000. MV Capital Management Inc. acquired a new stake in Steel Dynamics during the 4th quarter valued at $27,000. Sound Income Strategies LLC grew its holdings in Steel Dynamics by 1,500.0% during the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after buying an additional 150 shares during the last quarter. DV Equities LLC purchased a new position in Steel Dynamics during the fourth quarter worth $33,000. Finally, Torren Management LLC purchased a new position in Steel Dynamics during the fourth quarter worth $34,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Activity

In other Steel Dynamics news, SVP Miguel Alvarez sold 4,825 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total value of $1,088,423.50. Following the completion of the transaction, the senior vice president directly owned 122,257 shares of the company’s stock, valued at $27,578,734.06. This represents a 3.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kenneth W. Cornew sold 5,000 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total value of $1,124,350.00. Following the completion of the transaction, the director directly owned 31,299 shares of the company’s stock, valued at $7,038,206.13. This represents a 13.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,125 shares of company stock valued at $5,438,226 over the last ninety days. 6.60% of the stock is owned by company insiders.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $249.91 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The firm has a market capitalization of $36.17 billion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 0.52 and a beta of 1.50. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $288.74. The company has a 50 day moving average price of $239.04 and a 200 day moving average price of $200.34.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter last year, the business earned $1.44 earnings per share. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 15.67 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be paid a $0.53 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. Steel Dynamics’s dividend payout ratio is 22.67%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on STLD shares. Barclays started coverage on shares of Steel Dynamics in a report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 target price on the stock. Morgan Stanley reiterated an “underperform” rating and set a $190.00 price target on shares of Steel Dynamics in a report on Tuesday, March 17th. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Wells Fargo & Company reduced their price objective on shares of Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Bank of America decreased their target price on shares of Steel Dynamics from $285.00 to $280.00 and set a “neutral” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $227.18.

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.