Applied Finance Capital Management LLC lowered its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 13.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 55,432 shares of the basic materials company's stock after selling 8,788 shares during the quarter. Applied Finance Capital Management LLC's holdings in Steel Dynamics were worth $9,978,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Research Global Investors increased its position in Steel Dynamics by 0.3% during the fourth quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company's stock worth $613,926,000 after purchasing an additional 9,959 shares during the last quarter. Life Cycle Investment Partners Ltd acquired a new stake in shares of Steel Dynamics during the 4th quarter worth $586,702,000. Norges Bank acquired a new position in shares of Steel Dynamics in the 4th quarter valued at about $564,590,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Steel Dynamics by 3.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company's stock worth $340,289,000 after purchasing an additional 72,122 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Steel Dynamics by 6.3% during the 4th quarter. Invesco Ltd. now owns 1,965,092 shares of the basic materials company's stock worth $332,985,000 after purchasing an additional 116,379 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Steel Dynamics
In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the company's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the sale, the senior vice president directly owned 102,837 shares in the company, valued at $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 available at this hyperlink. Also, Director Kenneth W. Cornew sold 5,000 shares of Steel Dynamics stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the completion of the transaction, the director directly owned 31,299 shares in the company, valued at $7,038,206.13. This represents a 13.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 22,125 shares of company stock valued at $5,438,226 in the last ninety days. Company insiders own 6.60% of the company's stock.
Steel Dynamics Price Performance
NASDAQ:STLD opened at $228.42 on Monday. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $288.74. The firm has a market capitalization of $33.06 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 0.44 and a beta of 1.53. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average of $246.00 and a 200-day moving average of $206.96.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the previous year, the company earned $1.44 earnings per share. Steel Dynamics's quarterly revenue was up 19.1% compared to the same quarter last year. Analysts predict that Steel Dynamics, Inc. will post 16.73 EPS for the current year.
Steel Dynamics Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend was Tuesday, June 30th. Steel Dynamics's dividend payout ratio (DPR) is 22.67%.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on STLD shares. Wall Street Zen raised shares of Steel Dynamics from a "hold" rating to a "buy" rating in a research note on Saturday, April 18th. Barclays initiated coverage on Steel Dynamics in a report on Thursday, May 21st. They set an "overweight" rating and a $270.00 target price on the stock. JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $192.00 to $205.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 14th. Wells Fargo & Company decreased their price target on Steel Dynamics from $293.00 to $291.00 and set an "overweight" rating for the company in a report on Thursday, June 18th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $234.55.
Check Out Our Latest Stock Report on STLD
Steel Dynamics Profile
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Free Report)
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.
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