Ontario Teachers Pension Plan Board Raises Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Ontario Teachers Pension Plan Board grew its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 101.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 43,023 shares of the basic materials company’s stock after buying an additional 21,658 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Steel Dynamics were worth $4,864,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. ProShare Advisors LLC raised its holdings in shares of Steel Dynamics by 7.9% during the first quarter. ProShare Advisors LLC now owns 29,575 shares of the basic materials company’s stock valued at $3,344,000 after purchasing an additional 2,160 shares during the last quarter. 3Chopt Investment Partners LLC purchased a new position in shares of Steel Dynamics during the first quarter valued at approximately $1,277,000. B. Riley Wealth Advisors Inc. purchased a new position in shares of Steel Dynamics during the first quarter valued at approximately $385,000. Providence Capital Advisors LLC raised its holdings in shares of Steel Dynamics by 11,205.0% during the first quarter. Providence Capital Advisors LLC now owns 4,522 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 4,482 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its holdings in shares of Steel Dynamics by 1.1% during the first quarter. Chevy Chase Trust Holdings LLC now owns 96,926 shares of the basic materials company’s stock valued at $10,958,000 after purchasing an additional 1,029 shares during the last quarter. 81.32% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Price Performance

Shares of STLD traded down $1.94 during mid-day trading on Wednesday, reaching $98.24. The stock had a trading volume of 452,595 shares, compared to its average volume of 1,611,108. The firm has a market cap of $16.27 billion, a price-to-earnings ratio of 5.84 and a beta of 1.51. Steel Dynamics, Inc. has a 12 month low of $69.12 and a 12 month high of $136.46. The business has a fifty day moving average of $104.62 and a 200 day moving average of $105.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 4.20.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Thursday, July 20th. The basic materials company reported $4.81 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($0.01). Steel Dynamics had a return on equity of 40.44% and a net margin of 14.66%. The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the prior year, the company posted $6.73 EPS. Steel Dynamics’s revenue was down 18.2% compared to the same quarter last year. Equities analysts predict that Steel Dynamics, Inc. will post 15.8 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Thursday, September 28th. Steel Dynamics’s payout ratio is 9.91%.

Wall Street Analyst Weigh In

STLD has been the subject of several research reports. BMO Capital Markets decreased their price objective on shares of Steel Dynamics from $120.00 to $115.00 in a report on Monday, June 19th. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $94.00 to $95.00 and gave the company an “underweight” rating in a research report on Friday, September 8th. Morgan Stanley boosted their target price on shares of Steel Dynamics from $97.00 to $99.00 and gave the company an “equal weight” rating in a research report on Monday, July 24th. StockNews.com started coverage on shares of Steel Dynamics in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, BNP Paribas lowered shares of Steel Dynamics from an “outperform” rating to a “neutral” rating and set a $102.00 target price for the company. in a research report on Wednesday, July 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $108.56.

Insider Activity at Steel Dynamics

In related news, Director Gabriel Shaheen sold 1,717 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $105.80, for a total transaction of $181,658.60. Following the sale, the director now owns 83,074 shares of the company’s stock, valued at $8,789,229.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Gabriel Shaheen sold 1,717 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $105.80, for a total value of $181,658.60. Following the sale, the director now owns 83,074 shares of the company’s stock, valued at $8,789,229.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Christopher A. Graham sold 48,000 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $105.03, for a total transaction of $5,041,440.00. Following the completion of the sale, the senior vice president now directly owns 61,353 shares in the company, valued at approximately $6,443,905.59. The disclosure for this sale can be found here. 6.00% of the stock is owned by insiders.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. 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 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.