Holocene Advisors LP Sells 494,343 Shares of Steel Dynamics, Inc. $STLD

Holocene Advisors LP decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 16.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,506,083 shares of the basic materials company’s stock after selling 494,343 shares during the quarter. Steel Dynamics accounts for 0.8% of Holocene Advisors LP’s portfolio, making the stock its 24th biggest holding. Holocene Advisors LP’s holdings in Steel Dynamics were worth $320,804,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STLD. Trust Co. of Toledo NA OH purchased a new position in shares of Steel Dynamics in the second quarter valued at $30,000. WPG Advisers LLC purchased a new position in shares of Steel Dynamics in the 1st quarter worth $32,000. Rosenberg Matthew Hamilton increased its holdings in shares of Steel Dynamics by 306.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock worth $34,000 after buying an additional 199 shares during the last quarter. True Wealth Design LLC raised its position in shares of Steel Dynamics by 120.4% during the 2nd quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock valued at $41,000 after buying an additional 177 shares in the last quarter. Finally, Colonial Trust Advisors bought a new position in shares of Steel Dynamics in the 1st quarter valued at about $45,000. 82.41% of the stock is currently owned by institutional investors.

Insider Transactions at Steel Dynamics

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

Steel Dynamics Stock Down 0.6%

NASDAQ:STLD opened at $171.97 on Friday. The company has a market cap of $25.11 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 1.25 and a beta of 1.47. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $174.31. The company has a current ratio of 3.11, a quick ratio of 1.47 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $156.48 and a 200-day simple moving average of $140.14.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.63 by $0.11. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate 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 was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.05 EPS. Analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be issued a $0.50 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Steel Dynamics’s payout ratio is presently 26.49%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on STLD shares. The Goldman Sachs Group set a $172.00 price objective on Steel Dynamics and gave the stock a “neutral” rating in a research note on Friday, October 31st. Jefferies Financial Group increased their price target on Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday. Wells Fargo & Company boosted their price objective on shares of Steel Dynamics from $169.00 to $172.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. KeyCorp raised their target price on shares of Steel Dynamics from $152.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $174.89.

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.