Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by LSV Asset Management

LSV Asset Management cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 7.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,356,538 shares of the basic materials company’s stock after selling 108,600 shares during the period. LSV Asset Management owned about 0.86% of Steel Dynamics worth $201,080,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Morgan Stanley lifted its position in Steel Dynamics by 0.8% in the 3rd quarter. Morgan Stanley now owns 2,612,430 shares of the basic materials company’s stock valued at $280,105,000 after purchasing an additional 19,833 shares during the last quarter. Norges Bank bought a new stake in shares of Steel Dynamics during the 4th quarter worth about $221,817,000. Charles Schwab Investment Management Inc. raised its position in shares of Steel Dynamics by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,354,525 shares of the basic materials company’s stock worth $159,969,000 after buying an additional 21,143 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Steel Dynamics by 2.5% during the 1st quarter. Nordea Investment Management AB now owns 1,034,133 shares of the basic materials company’s stock worth $153,290,000 after buying an additional 25,280 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in shares of 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 buying an additional 98,764 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Steel Dynamics

In related news, SVP Christopher A. Graham sold 21,000 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on STLD. Jefferies Financial Group began coverage on shares of Steel Dynamics in a research report on Monday, May 20th. They set a “hold” rating and a $150.00 price target on the stock. Bank of America lowered their price objective on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Finally, BMO Capital Markets lowered 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 research note on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $133.57.

Steel Dynamics Trading Down 0.4 %

Shares of Steel Dynamics stock traded down $0.55 during trading on Friday, hitting $129.22. The stock had a trading volume of 1,085,024 shares, compared to its average volume of 1,229,773. The stock has a 50 day simple moving average of $129.23 and a 200 day simple moving average of $129.06. The company has a market capitalization of $20.30 billion, a PE ratio of 8.89 and a beta of 1.35. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. Steel Dynamics, Inc. has a 1 year low of $95.53 and a 1 year high of $151.34.

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

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, June 28th. Steel Dynamics’s dividend payout ratio (DPR) is currently 12.64%.

About Steel Dynamics

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.