IFM Investors Pty Ltd Has $3.30 Million Position in Steel Dynamics, Inc. $STLD

Key Points

• IFM Investors Pty Ltd reduced its holdings in Steel Dynamics, Inc. by 30.4%, selling 11,526 shares and holding a total of 26,409 shares valued at $3,303,000 as of their latest SEC filing.
• Several institutional investors have made significant changes to their positions in Steel Dynamics, with notable increases in ownership by firms like Cary Street Partners and Grove Bank & Trust.
• Steel Dynamics recently reported Q2 earnings of $2.01 EPS, falling short of analysts' expectations, with a quarterly revenue of $4.57 billion, down 1.5% compared to the previous year.

IFM Investors Pty Ltd cut its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 30.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,409 shares of the basic materials company's stock after selling 11,526 shares during the period. IFM Investors Pty Ltd's holdings in Steel Dynamics were worth $3,303,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of STLD. Cetera Investment Advisers boosted its holdings in shares of Steel Dynamics by 6.2% in the fourth quarter. Cetera Investment Advisers now owns 18,308 shares of the basic materials company's stock valued at $2,088,000 after purchasing an additional 1,071 shares during the period. Focus Partners Wealth acquired a new position in Steel Dynamics during the 4th quarter valued at approximately $654,000. NorthRock Partners LLC acquired a new position in Steel Dynamics during the 4th quarter valued at approximately $349,000. Mufg Securities Americas Inc. purchased a new stake in shares of Steel Dynamics in the 4th quarter valued at $238,000. Finally, Quantinno Capital Management LP boosted its holdings in shares of Steel Dynamics by 60.4% in the 4th quarter. Quantinno Capital Management LP now owns 12,904 shares of the basic materials company's stock valued at $1,472,000 after acquiring an additional 4,857 shares during the last quarter. Institutional investors own 82.41% of the company's stock.

Insider Activity at Steel Dynamics

In related news, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics 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 transaction, the senior vice president directly owned 66,738 shares of the company's stock, valued at $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.30% of the company's stock.

Steel Dynamics Trading Up 0.7%

Shares of NASDAQ STLD traded up $0.93 on Monday, reaching $131.58. 1,083,210 shares of the company traded hands, compared to its average volume of 1,575,828. The company has a 50 day moving average of $129.59 and a 200 day moving average of $127.99. The stock has a market capitalization of $19.37 billion, a PE ratio of 19.18, a P/E/G ratio of 1.06 and a beta of 1.40. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $155.56. 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 (NASDAQ:STLD - Get Free Report) last released 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). The firm had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.82 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. Steel Dynamics's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.72 earnings per share. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Steel Dynamics's dividend payout ratio (DPR) is 29.15%.

Analysts Set New Price Targets

Several research firms have issued reports on STLD. Morgan Stanley increased their price objective 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. Wells Fargo & Company raised their price objective on shares of Steel Dynamics from $143.00 to $150.00 and gave the company an "overweight" rating in a research note on Monday. Finally, JPMorgan Chase & Co. lifted 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. Nine investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $149.40.

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.