Steel Dynamics, Inc. $STLD Shares Acquired by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC increased its holdings in Steel Dynamics, Inc. by 12.3%, acquiring an additional 44,414 shares during the first quarter, bringing their total to 404,999 shares valued at approximately $50.7 million.
• In recent insider activity, SVP Miguel Alvarez sold 7,495 shares for over $1 million, resulting in a 5.64% decrease in his holdings, and Director Gabriel Shaheen also sold 1,254 shares, marking a 1.51% decrease in his stake.
• Steel Dynamics announced a quarterly dividend of $0.50 per share, with a yield of 1.6%, scheduled for payment on October 10th to shareholders of record by September 30th.

Brandywine Global Investment Management LLC increased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 12.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 404,999 shares of the basic materials company's stock after purchasing an additional 44,414 shares during the period. Brandywine Global Investment Management LLC owned 0.27% of Steel Dynamics worth $50,657,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of STLD. Price T Rowe Associates Inc. MD boosted its holdings in shares of Steel Dynamics by 8.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company's stock valued at $642,033,000 after buying an additional 451,630 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Steel Dynamics by 29.4% in the fourth quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company's stock worth $409,816,000 after purchasing an additional 815,629 shares during the last quarter. First Trust Advisors LP lifted its stake in Steel Dynamics by 14.1% during the 4th quarter. First Trust Advisors LP now owns 3,179,062 shares of the basic materials company's stock valued at $362,636,000 after acquiring an additional 393,516 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Steel Dynamics by 433.1% during the first quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company's stock worth $227,211,000 after purchasing an additional 1,475,767 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Steel Dynamics by 17.1% during the fourth quarter. Northern Trust Corp now owns 1,775,286 shares of the basic materials company's stock valued at $202,507,000 after purchasing an additional 259,361 shares during the period. Institutional investors own 82.41% of the company's stock.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the sale, the senior vice president owned 66,738 shares in the company, valued at $8,456,371.98. This represents a 15.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gabriel Shaheen sold 1,254 shares of Steel Dynamics stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $134.11, for a total value of $168,173.94. Following the completion of the transaction, the director owned 81,812 shares of the company's stock, valued at $10,971,807.32. The trade was a 1.51% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.30% of the company's stock.

Steel Dynamics Trading Up 1.8%

Shares of NASDAQ:STLD traded up $2.31 during mid-day trading on Tuesday, reaching $128.22. 1,493,458 shares of the company were exchanged, compared to its average volume of 1,616,984. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. The firm's 50-day simple moving average is $129.47 and its 200 day simple moving average is $128.20. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56. The firm has a market cap of $18.88 billion, a price-to-earnings ratio of 18.69, a P/E/G ratio of 1.02 and a beta of 1.38.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the firm posted $2.72 earnings per share. The company's quarterly revenue was down 1.5% compared to the same quarter last year. Equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Tuesday, September 30th. Steel Dynamics's dividend payout ratio (DPR) is currently 29.15%.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Wells Fargo & Company upgraded Steel Dynamics to a "strong-buy" rating in a research report on Thursday, August 14th. Morgan Stanley lifted their price target on Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Finally, Wall Street Zen cut 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 Strong Buy rating, eight have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, Steel Dynamics has a consensus rating of "Moderate Buy" and a consensus target price of $148.70.

Steel Dynamics 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.