Genus Capital Management Inc. Cuts Holdings in Steel Dynamics, Inc. $STLD

Genus Capital Management Inc. lessened its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 5.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,619 shares of the basic materials company’s stock after selling 2,835 shares during the period. Genus Capital Management Inc.’s holdings in Steel Dynamics were worth $6,352,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Harbour Capital Advisors LLC grew its stake in Steel Dynamics by 0.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 14,828 shares of the basic materials company’s stock worth $1,988,000 after buying an additional 80 shares in the last quarter. Hemington Wealth Management grew its stake in Steel Dynamics by 35.9% in the 1st quarter. Hemington Wealth Management now owns 318 shares of the basic materials company’s stock worth $39,000 after buying an additional 84 shares in the last quarter. Blair William & Co. IL grew its stake in Steel Dynamics by 5.8% in the 2nd quarter. Blair William & Co. IL now owns 1,813 shares of the basic materials company’s stock worth $232,000 after buying an additional 100 shares in the last quarter. Lifeworks Advisors LLC grew its stake in Steel Dynamics by 6.6% in the 2nd quarter. Lifeworks Advisors LLC now owns 1,719 shares of the basic materials company’s stock worth $220,000 after buying an additional 106 shares in the last quarter. Finally, Forum Financial Management LP grew its stake in Steel Dynamics by 2.5% in the 2nd quarter. Forum Financial Management LP now owns 4,524 shares of the basic materials company’s stock worth $579,000 after buying an additional 109 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. KeyCorp boosted their price target on shares of Steel Dynamics from $152.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Wells Fargo & Company boosted their price target on shares of Steel Dynamics from $150.00 to $169.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Morgan Stanley boosted their price objective on shares of Steel Dynamics from $145.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. UBS Group set a $165.00 price objective on shares of Steel Dynamics in a report on Tuesday. Finally, BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $170.11.

Steel Dynamics Trading Down 2.8%

Shares of STLD opened at $151.62 on Wednesday. The firm has a market cap of $22.14 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.39 and a beta of 1.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.11. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $164.73. The firm has a 50 day moving average price of $141.95 and a 200-day moving average price of $134.03.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.11. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.05 EPS. As a group, equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.00 annualized dividend and a yield of 1.3%. Steel Dynamics’s dividend payout ratio is presently 26.49%.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the completion of the sale, the senior vice president owned 117,068 shares of the company’s stock, valued at $19,057,499.72. This represents a 6.58% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.30% of the stock is owned by insiders.

Steel Dynamics 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.