Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Assetmark Inc.

Key Points

• Assetmark Inc. reduced its stake in Steel Dynamics, Inc. by 8.3%, selling 63,000 shares, and now holds approximately 0.46% of the company's shares valued at $87.1 million.
• Steel Dynamics reported a Q2 EPS of $2.01, missing expectations, with revenue of $4.57 billion, down 1.5% year-over-year from $4.82 billion.
• The company announced a quarterly dividend of $0.50 per share, with an annualized dividend of $2.00, reflecting a dividend yield of 1.53%.

Assetmark Inc. reduced its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 696,722 shares of the basic materials company's stock after selling 63,000 shares during the period. Assetmark Inc. owned about 0.46% of Steel Dynamics worth $87,146,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $363,000. American Century Companies Inc. boosted its holdings in shares of Steel Dynamics by 7.2% in the 4th quarter. American Century Companies Inc. now owns 262,847 shares of the basic materials company's stock valued at $29,983,000 after buying an additional 17,715 shares in the last quarter. LPL Financial LLC boosted its holdings in shares of Steel Dynamics by 11.3% in the 4th quarter. LPL Financial LLC now owns 99,417 shares of the basic materials company's stock valued at $11,340,000 after buying an additional 10,086 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Steel Dynamics by 13.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230,267 shares of the basic materials company's stock valued at $26,055,000 after buying an additional 27,989 shares in the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $495,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Performance

Shares of STLD stock traded up $4.00 during mid-day trading on Friday, hitting $130.83. The stock had a trading volume of 1,031,232 shares, compared to its average volume of 1,284,208. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $155.56. The firm has a market cap of $19.42 billion, a PE ratio of 19.07, a PEG ratio of 1.02 and a beta of 1.37. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.38. The company's 50-day simple moving average is $131.27 and its 200-day simple moving average is $127.97.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.04). Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter last year, the business posted $2.72 EPS. The firm's revenue was down 1.5% on a year-over-year basis. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.53%. The ex-dividend date was Monday, June 30th. Steel Dynamics's dividend payout ratio (DPR) is 29.15%.

Analyst Upgrades and Downgrades

STLD has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Morgan Stanley upped their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a report on Friday, June 20th. BMO Capital Markets raised shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $135.00 to $145.00 in a research report on Monday, March 31st. Finally, Wall Street Zen downgraded shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.33.

Insider Activity

In related news, SVP Miguel Alvarez sold 7,495 shares of the firm's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total value of $1,013,773.70. Following the completion of the sale, the senior vice president owned 125,319 shares in the company, valued at $16,950,647.94. This trade represents a 5.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gabriel Shaheen sold 1,254 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $134.11, for a total transaction of $168,173.94. Following the completion of the sale, the director owned 81,812 shares of the company's stock, valued at $10,971,807.32. This trade represents a 1.51% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is owned by company insiders.

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.