OMERS ADMINISTRATION Corp Acquires 2,125 Shares of Steel Dynamics, Inc. $STLD

OMERS ADMINISTRATION Corp grew its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 33.4% during the first quarter, HoldingsChannel.com reports. The firm owned 8,491 shares of the basic materials company’s stock after buying an additional 2,125 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Steel Dynamics were worth $1,528,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Jacobi Capital Management LLC increased its holdings in Steel Dynamics by 1.6% in the fourth quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock valued at $599,000 after purchasing an additional 55 shares during the last quarter. Optas LLC grew its position in shares of Steel Dynamics by 3.0% during the 4th quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock worth $335,000 after buying an additional 58 shares during the period. Hohimer Wealth Management LLC increased its stake in shares of Steel Dynamics by 1.1% in the 4th quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock valued at $967,000 after acquiring an additional 61 shares during the last quarter. Wright Investors Service Inc. increased its stake in shares of Steel Dynamics by 1.2% in the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock valued at $941,000 after acquiring an additional 64 shares during the last quarter. Finally, Kestra Private Wealth Services LLC boosted its stake in Steel Dynamics by 2.7% during the 1st quarter. Kestra Private Wealth Services LLC now owns 2,396 shares of the basic materials company’s stock worth $431,000 after acquiring an additional 64 shares during the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Down 2.8%

Shares of STLD stock opened at $252.34 on Thursday. The firm has a fifty day moving average of $248.00 and a 200-day moving average of $213.15. The company has a quick ratio of 1.45, a current ratio of 3.18 and a debt-to-equity ratio of 0.45. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $288.74. The company has a market capitalization of $36.52 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 0.49 and a beta of 1.53.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.63 by $0.06. The business had revenue of $6.09 billion for the quarter, compared to analysts’ expectations of $5.56 billion. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The firm’s revenue was up 33.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.01 EPS. As a group, equities research analysts predict that Steel Dynamics, Inc. will post 17.16 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, June 30th. Steel Dynamics’s payout ratio is 19.22%.

Analyst Ratings Changes

Several brokerages have commented on STLD. Barclays upped their target price on shares of Steel Dynamics from $270.00 to $272.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Citigroup boosted their price target on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Weiss Ratings raised Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. The Goldman Sachs Group started coverage on Steel Dynamics in a report on Wednesday. They set a “buy” rating and a $300.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $256.00 to $260.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $249.00.

Insider Activity

In related news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction that occurred on 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 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 can be accessed through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the sale, the senior vice president owned 28,618 shares in the company, valued at $6,699,759.98. The trade was a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.60% of the stock is owned by corporate insiders.

Steel Dynamics 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.