Denali Advisors LLC Lowers Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Denali Advisors LLC lessened its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 23.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,670 shares of the basic materials company's stock after selling 3,251 shares during the quarter. Denali Advisors LLC's holdings in Steel Dynamics were worth $1,335,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Steel Dynamics during the 4th quarter worth $336,426,000. Victory Capital Management Inc. lifted its stake in Steel Dynamics by 433.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company's stock valued at $227,211,000 after buying an additional 1,475,767 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of 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 purchasing an additional 1,002,813 shares during the period. Capital Research Global Investors raised its position in shares of Steel Dynamics by 29.4% in the 4th quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company's stock worth $409,816,000 after buying an additional 815,629 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position 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 worth $642,033,000 after buying an additional 451,630 shares during the period. Hedge funds and other institutional investors own 82.41% of the company's stock.

Analyst Upgrades and Downgrades

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

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD traded up $1.12 on Wednesday, hitting $133.36. 312,110 shares of the company were exchanged, compared to its average volume of 1,666,334. 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 $19.80 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 1.08 and a beta of 1.37. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The company's 50 day moving average price is $131.55 and its two-hundred day moving average price is $127.82.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued 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 net margin of 6.07% and a return on equity of 11.85%. The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same period in the previous year, the company posted $2.72 EPS. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. Research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current 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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend was Monday, June 30th. Steel Dynamics's dividend payout ratio (DPR) is currently 26.42%.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 7,495 shares of Steel Dynamics 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. The trade was a 5.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gabriel Shaheen sold 1,254 shares of Steel Dynamics stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $134.11, for a total transaction of $168,173.94. Following the sale, the director directly 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. Company insiders own 6.30% of the company's stock.

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.