Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Denali Advisors LLC

Denali Advisors LLC decreased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 23.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,670 shares of the basic materials company's stock after selling 3,251 shares during the period. Denali Advisors LLC's holdings in Steel Dynamics were worth $1,335,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. increased its stake in Steel Dynamics by 4.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 6,354 shares of the basic materials company's stock valued at $725,000 after purchasing an additional 280 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in Steel Dynamics by 11.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 45,491 shares of the basic materials company's stock valued at $5,189,000 after purchasing an additional 4,573 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Steel Dynamics by 4.1% during the fourth quarter. Natixis Advisors LLC now owns 38,505 shares of the basic materials company's stock valued at $4,392,000 after purchasing an additional 1,521 shares in the last quarter. Axxcess Wealth Management LLC lifted its holdings in Steel Dynamics by 7.0% during the fourth quarter. Axxcess Wealth Management LLC now owns 1,967 shares of the basic materials company's stock valued at $224,000 after purchasing an additional 128 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of Steel Dynamics by 27.9% in the fourth quarter. Teacher Retirement System of Texas now owns 114,993 shares of the basic materials company's stock valued at $13,117,000 after buying an additional 25,064 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Performance

STLD traded down $3.68 during trading on Tuesday, hitting $130.85. The stock had a trading volume of 1,460,374 shares, compared to its average volume of 1,524,785. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.38 and a current ratio of 2.74. The firm has a market capitalization of $19.42 billion, a P/E ratio of 17.17, a PEG ratio of 1.04 and a beta of 1.37. The company's 50-day moving average price is $131.65 and its 200 day moving average price is $127.64. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) 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 return on equity of 13.26% and a net margin of 6.80%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period last year, the company earned $2.72 earnings per share. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Monday, June 30th. Steel Dynamics's dividend payout ratio (DPR) is presently 26.42%.

Analyst Ratings Changes

Several research firms recently issued reports on STLD. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. BMO Capital Markets raised shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $135.00 to $145.00 in a research note on Monday, March 31st. Wall Street Zen lowered shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. UBS Group raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective for the company in a research note on Monday, March 24th. Finally, Morgan Stanley raised their price objective on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $149.33.

Insider Buying and Selling

In related news, SVP Miguel Alvarez sold 7,495 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the transaction, the senior vice president directly 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 SEC, which is available through this hyperlink. Also, Director Gabriel Shaheen sold 1,254 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $134.11, for a total value of $168,173.94. Following the transaction, the director owned 81,812 shares in the company, valued at $10,971,807.32. This trade represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by corporate 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.