Steel Dynamics, Inc.
At today's price, Steel Dynamics, Inc. (STLD) is priced for today's economics sustained for ~5.8 years. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
• Steel Dynamics runs four connected recycled-metals businesses (steel mills, scrap recycling, fabrication, and a new aluminum flat-rolled mill), and its 10-K states that roughly ⟦"70% of our steel and steel fabrication sales are considered value-added"⟧, a mix built to hold margin better than commodity tonnage through the cycle. • The price pays about 22x trailing operating income on earnings that fell from $3.15 billion of operating income in 2023 to $1.48 billion in 2025, so today's $228.41 (
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904 institutional managers reported holding STLD in 13F filings for the quarter ended 2026-03-31. Together they hold about 80% of the company; the top 10 hold 41%. 104 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 4.0M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (3.9 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
STLD has cut its share count 30.9% over the past five years, spending $6.15B on repurchases. It pays a dividend, and has paid one every year in our records (18 and counting), raised 16 years straight; the current rate is $2.00 a share annually. Cash returned over the past three years: $786.46M in dividends and $2.95B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
No open-market insider buys on file at STLD over the trailing three years. Absence is a fact about the company, not a signal. 19 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
STLD's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-09 | -1.5% | +5.7% |
| 2023-11-10 | +0.3% | +3.9% |
| 2024-03-01 | +1.1% | +1.3% |
| 2024-05-11 | -0.8% | -4.4% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
STLD's latest 8-K filings: 2026-06-18 (items 7.01, 9.01); 2026-05-08 (items 5.07, 8.01, 9.01); 2026-04-21 (items 2.02, 9.01); 2026-03-27 (items 5.02, 7.01, 9.01); 2026-03-18 (items 7.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: July 11, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.