Dimensional Fund Advisors LP Sells 119,255 Shares of Steel Dynamics, Inc. $STLD

Key Points

• Dimensional Fund Advisors LP reduced its stake in Steel Dynamics, Inc. by 4.1%, holding approximately 2.8 million shares valued at $349.58 million as of the latest SEC filing.
• Steel Dynamics recently announced a quarterly dividend of $0.50, representing a 1.6% dividend yield, with the payout date set for October 10th.
• Analyst ratings for Steel Dynamics are mixed, with estimates showing a consensus rating of "Moderate Buy" and a price target averaging $148.70.

Dimensional Fund Advisors LP lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 4.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,795,315 shares of the basic materials company's stock after selling 119,255 shares during the quarter. Dimensional Fund Advisors LP owned approximately 1.86% of Steel Dynamics worth $349,578,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of STLD. Financial Gravity Asset Management Inc. bought a new position in shares of Steel Dynamics in the 1st quarter worth about $25,000. Cary Street Partners Investment Advisory LLC raised its stake in Steel Dynamics by 493.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company's stock worth $25,000 after acquiring an additional 163 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Steel Dynamics during the first quarter worth about $32,000. Grove Bank & Trust lifted its holdings in Steel Dynamics by 194.7% in the first quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock worth $35,000 after acquiring an additional 183 shares during the last quarter. Finally, Wayfinding Financial LLC acquired a new position in Steel Dynamics in the first quarter valued at approximately $36,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Stock Performance

STLD traded down $0.1750 during trading on Thursday, hitting $125.2750. The stock had a trading volume of 350,184 shares, compared to its average volume of 1,611,311. The firm has a market cap of $18.44 billion, a PE ratio of 18.24, a P/E/G ratio of 1.04 and a beta of 1.38. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $155.56. The company has a 50 day simple moving average of $129.27 and a 200-day simple moving average of $128.18.

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

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.6%. Steel Dynamics's payout ratio is 29.15%.

Analyst Ratings Changes

STLD has been the topic of a number of research reports. Wells Fargo & Company upgraded Steel Dynamics to a "strong-buy" rating in a research report on Thursday, August 14th. Morgan Stanley raised their target price 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 objective 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. Finally, Wall Street Zen lowered Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $148.70.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Christopher A. Graham sold 12,000 shares of the company's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the transaction, the senior vice president directly owned 66,738 shares in the company, valued at $8,456,371.98. This represents a 15.24% decrease in their position. The transaction 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 the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the transaction, the director owned 81,812 shares in the company, valued at approximately $10,971,807.32. The trade was a 1.51% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is owned by corporate insiders.

About Steel Dynamics

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.