Steel Dynamics, Inc. $STLD Shares Sold by CX Institutional

CX Institutional lessened its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 6.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,874 shares of the basic materials company’s stock after selling 785 shares during the period. CX Institutional’s holdings in Steel Dynamics were worth $1,520,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of STLD. Victory Capital Management Inc. lifted its stake in Steel Dynamics by 433.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company’s stock worth $227,211,000 after acquiring an additional 1,475,767 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Steel Dynamics by 25.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company’s stock worth $883,854,000 after acquiring an additional 1,437,897 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Steel Dynamics by 531.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,191,669 shares of the basic materials company’s stock worth $149,054,000 after acquiring an additional 1,002,813 shares in the last quarter. Nuveen LLC acquired a new position in Steel Dynamics during the 1st quarter worth about $62,470,000. Finally, GAMMA Investing LLC lifted its stake in Steel Dynamics by 18,398.4% during the 1st quarter. GAMMA Investing LLC now owns 447,661 shares of the basic materials company’s stock worth $55,993,000 after acquiring an additional 445,241 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

STLD has been the topic of several research reports. Morgan Stanley increased their target price on Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $138.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Finally, Wells Fargo & Company lifted their target price on Steel Dynamics from $143.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, September 15th. Nine research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $149.40.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the business’s stock in a transaction on 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.30% of the company’s stock.

Steel Dynamics Trading Down 0.2%

Shares of STLD stock opened at $136.09 on Friday. The business’s 50 day moving average is $130.32 and its two-hundred day moving average is $128.61. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The company has a market capitalization of $20.03 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 1.11 and a beta of 1.40. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter last year, the firm earned $2.72 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced 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 dividend yield of 1.5%. The ex-dividend date is Tuesday, September 30th. Steel Dynamics’s payout ratio is presently 29.15%.

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.