Fuller & Thaler Asset Management Inc. Boosts Holdings in Steel Dynamics, Inc. $STLD

Fuller & Thaler Asset Management Inc. grew its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 51.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,384 shares of the basic materials company’s stock after acquiring an additional 5,940 shares during the period. Fuller & Thaler Asset Management Inc.’s holdings in Steel Dynamics were worth $2,174,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Forum Financial Management LP raised its position in shares of Steel Dynamics by 2.5% in the fourth quarter. Forum Financial Management LP now owns 3,113 shares of the basic materials company’s stock worth $355,000 after acquiring an additional 75 shares during the period. Hemington Wealth Management raised its position in shares of Steel Dynamics by 35.9% in the first quarter. Hemington Wealth Management now owns 318 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 84 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Steel Dynamics by 1.6% in the first quarter. Sequoia Financial Advisors LLC now owns 5,803 shares of the basic materials company’s stock worth $726,000 after acquiring an additional 91 shares during the period. Sunbelt Securities Inc. raised its position in shares of Steel Dynamics by 25.0% in the first quarter. Sunbelt Securities Inc. now owns 500 shares of the basic materials company’s stock worth $63,000 after acquiring an additional 100 shares during the period. Finally, Parallel Advisors LLC raised its position in shares of Steel Dynamics by 6.3% in the first quarter. Parallel Advisors LLC now owns 1,734 shares of the basic materials company’s stock worth $217,000 after acquiring an additional 102 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, Director Gabriel Shaheen sold 1,254 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $134.11, for a total transaction of $168,173.94. Following the transaction, the director directly owned 81,812 shares of the company’s stock, valued at approximately $10,971,807.32. This trade represents a 1.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Christopher A. Graham sold 12,000 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the transaction, the senior vice president directly owned 66,738 shares in the company, valued at $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.30% of the company’s stock.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $125.45 on Thursday. The company’s fifty day moving average price is $129.27 and its 200 day moving average price is $128.18. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $155.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. The firm has a market capitalization of $18.47 billion, a P/E ratio of 18.29, a P/E/G ratio of 1.04 and a beta of 1.38.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.04). Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the business earned $2.72 earnings per share. Steel Dynamics’s revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 29.15%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Wall Street Zen cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Friday, April 25th. Morgan Stanley increased their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, June 20th. Finally, Wells Fargo & Company upgraded shares of Steel Dynamics to a “strong-buy” rating in a report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Steel Dynamics has an average rating of “Moderate Buy” and a consensus target price of $148.70.

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.