J2 Capital Management Inc Sells 1,377 Shares of Steel Dynamics, Inc. $STLD

J2 Capital Management Inc lowered its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 37.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,301 shares of the basic materials company’s stock after selling 1,377 shares during the quarter. J2 Capital Management Inc’s holdings in Steel Dynamics were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Robeco Institutional Asset Management B.V. raised its holdings in shares of Steel Dynamics by 40.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock valued at $214,541,000 after purchasing an additional 484,304 shares in the last quarter. Ninety One UK Ltd raised its holdings in shares of Steel Dynamics by 0.8% during the 2nd quarter. Ninety One UK Ltd now owns 89,761 shares of the basic materials company’s stock valued at $11,490,000 after purchasing an additional 687 shares in the last quarter. HB Wealth Management LLC raised its holdings in shares of Steel Dynamics by 9.7% during the 2nd quarter. HB Wealth Management LLC now owns 5,446 shares of the basic materials company’s stock valued at $697,000 after purchasing an additional 483 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Steel Dynamics by 0.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 23,906 shares of the basic materials company’s stock valued at $3,060,000 after purchasing an additional 175 shares in the last quarter. Finally, Oakworth Capital Inc. raised its holdings in shares of Steel Dynamics by 4.0% during the 2nd quarter. Oakworth Capital Inc. now owns 3,871 shares of the basic materials company’s stock valued at $496,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the sale, the senior vice president directly owned 66,738 shares in the company, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Steel Dynamics from $143.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, September 15th. JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. Finally, Morgan Stanley raised their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Eight equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.78.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $141.00 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. The firm’s 50-day simple moving average is $130.92 and its 200-day simple moving average is $129.06. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The firm has a market cap of $20.76 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 1.13 and a beta of 1.40.

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

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders 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 dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Steel Dynamics’s payout ratio is 29.15%.

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.