Great Lakes Advisors LLC Has $3.99 Million Stake in Steel Dynamics, Inc. $STLD

Great Lakes Advisors LLC raised its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 27.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,400 shares of the basic materials company’s stock after acquiring an additional 3,719 shares during the quarter. Great Lakes Advisors LLC’s holdings in Steel Dynamics were worth $3,993,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of STLD. Strs Ohio raised its position in Steel Dynamics by 7.3% during the fourth quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock valued at $26,075,000 after purchasing an additional 10,519 shares in the last quarter. Canada Post Corp Registered Pension Plan raised its holdings in Steel Dynamics by 70.5% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 11,692 shares of the basic materials company’s stock valued at $1,981,000 after buying an additional 4,835 shares during the last quarter. Ethic Inc. boosted its holdings in shares of Steel Dynamics by 56.5% during the fourth quarter. Ethic Inc. now owns 18,548 shares of the basic materials company’s stock worth $3,143,000 after purchasing an additional 6,695 shares during the period. Sapient Capital LLC grew its position in shares of Steel Dynamics by 34.6% in the 2nd quarter. Sapient Capital LLC now owns 447,664 shares of the basic materials company’s stock worth $102,958,000 after buying an additional 115,080 shares during the last quarter. Finally, M&T Bank Corp boosted its holdings in Steel Dynamics by 372.2% in the fourth quarter. M&T Bank Corp now owns 34,898 shares of the basic materials company’s stock valued at $5,913,000 after acquiring an additional 27,508 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on STLD. Morgan Stanley lowered their target price on Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. UBS Group boosted their price target on Steel Dynamics from $165.00 to $276.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Wells Fargo & Company dropped their target price on shares of Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Barclays upped their price target on shares of Steel Dynamics from $270.00 to $272.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Finally, KeyCorp reissued an “overweight” rating on shares of Steel Dynamics in a report on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Steel Dynamics presently has an average rating of “Moderate Buy” and an average price target of $259.09.

Insider Activity at Steel Dynamics

In other news, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the transaction, the senior vice president directly owned 102,837 shares in the company, valued at approximately $27,632,301.90. This represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Down 5.2%

Shares of NASDAQ STLD opened at $219.00 on Friday. The stock has a market capitalization of $31.39 billion, a price-to-earnings ratio of 19.85, a P/E/G ratio of 0.44 and a beta of 1.52. Steel Dynamics, Inc. has a 12-month low of $124.77 and a 12-month high of $288.74. The firm’s 50-day moving average price is $246.14 and its 200-day moving average price is $222.23. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The firm had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter in the previous year, the company posted $2.01 EPS. The company’s revenue for the quarter was up 33.4% compared to the same quarter last year. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.53 per share. The ex-dividend date is Wednesday, September 30th. This represents a $2.12 dividend on an annualized basis and a yield of 1.0%. Steel Dynamics’s payout ratio is presently 19.22%.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.