Diversified Trust Co Raises Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Diversified Trust Co lifted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 316.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,899 shares of the basic materials company’s stock after buying an additional 16,640 shares during the period. Diversified Trust Co’s holdings in Steel Dynamics were worth $3,246,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new stake in Steel Dynamics during the 4th quarter worth approximately $221,817,000. Ameriprise Financial Inc. grew its position in Steel Dynamics by 165.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock worth $212,447,000 after purchasing an additional 1,255,751 shares during the last quarter. Sapient Capital LLC purchased a new stake in Steel Dynamics during the 4th quarter worth approximately $38,644,000. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Steel Dynamics during the 4th quarter worth approximately $14,762,000. Finally, Schroder Investment Management Group grew its position in Steel Dynamics by 15.3% during the 4th quarter. Schroder Investment Management Group now owns 743,697 shares of the basic materials company’s stock worth $87,831,000 after purchasing an additional 98,764 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

STLD opened at $129.15 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. The firm has a fifty day moving average price of $130.11 and a 200 day moving average price of $128.90. Steel Dynamics, Inc. has a 1 year low of $95.53 and a 1 year high of $151.34. The stock has a market cap of $20.29 billion, a P/E ratio of 8.87 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the business posted $4.01 EPS. The business’s revenue was down 4.1% compared to the same quarter last year. Equities research analysts anticipate that Steel Dynamics, Inc. will post 11.64 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Friday, June 28th. Steel Dynamics’s dividend payout ratio is presently 12.64%.

Wall Street Analyst Weigh In

Several analysts have weighed in on STLD shares. Bank of America dropped their target price on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Citigroup upped their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. BMO Capital Markets dropped their price objective on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a report on Tuesday, June 18th. Jefferies Financial Group began coverage on shares of Steel Dynamics in a report on Monday, May 20th. They issued a “hold” rating and a $150.00 price objective on the stock. Finally, JPMorgan Chase & Co. upped their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $129.63.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the completion of the transaction, the senior vice president now directly owns 60,415 shares in the company, valued at $8,265,376.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.10% of the stock is currently owned by company insiders.

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.