Kennedy Capital Management LLC Sells 18,583 Shares of Steel Dynamics, Inc. $STLD

Key Points

• Kennedy Capital Management cut its stake in Steel Dynamics by 17.6% in the fourth quarter, selling 18,583 shares and leaving it with 86,847 shares valued at about $14.7 million.
• Steel Dynamics reported quarterly EPS of $2.78, narrowly missing estimates, while revenue came in at $5.20 billion versus expectations of $5.39 billion; revenue still rose 19.1% year over year.
• The company announced a quarterly dividend of $0.53 per share, and analysts remain broadly positive, with an average rating of “Moderate Buy” and an average price target of $224.64.

Kennedy Capital Management LLC decreased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 17.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,847 shares of the basic materials company's stock after selling 18,583 shares during the quarter. Kennedy Capital Management LLC owned approximately 0.06% of Steel Dynamics worth $14,716,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STLD. NewEdge Advisors LLC lifted its holdings in Steel Dynamics by 307.5% during the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company's stock valued at $102,000 after buying an additional 618 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Steel Dynamics by 82.7% during the 1st quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company's stock valued at $435,000 after buying an additional 1,578 shares in the last quarter. Jump Financial LLC bought a new stake in Steel Dynamics during the 2nd quarter valued at about $1,019,000. Qube Research & Technologies Ltd bought a new stake in Steel Dynamics during the 2nd quarter valued at about $48,746,000. Finally, Sei Investments Co. lifted its holdings in Steel Dynamics by 7.9% during the 2nd quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company's stock valued at $13,447,000 after buying an additional 7,712 shares in the last quarter. Institutional investors own 82.41% of the company's stock.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $282.76 on Monday. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $285.88. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The firm has a market cap of $40.92 billion, a P/E ratio of 30.24, a P/E/G ratio of 0.56 and a beta of 1.50. The firm has a 50-day simple moving average of $230.74 and a 200-day simple moving average of $196.94.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company's revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.44 EPS. Equities analysts anticipate that Steel Dynamics, Inc. will post 15.85 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics's payout ratio is 22.67%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STLD. Citigroup lifted their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. Wall Street Zen upgraded shares of Steel Dynamics from a "hold" rating to a "buy" rating in a report on Saturday, April 18th. Wells Fargo & Company lifted their price objective on shares of Steel Dynamics from $235.00 to $293.00 and gave the company an "overweight" rating in a report on Thursday, June 4th. Barclays assumed coverage on shares of Steel Dynamics in a report on Thursday, May 21st. They set an "overweight" rating and a $270.00 price objective for the company. Finally, Weiss Ratings upgraded shares of Steel Dynamics from a "hold (c)" rating to a "buy (b-)" rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of "Moderate Buy" and an average target price of $224.64.

Insider Activity

In related news, SVP Richard A. Poinsatte sold 2,300 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the completion of the transaction, the senior vice president owned 28,618 shares in the company, valued at $6,699,759.98. The trade was a 7.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kenneth W. Cornew sold 5,000 shares of the business's stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the transaction, the director owned 31,299 shares of the company's stock, valued at approximately $7,038,206.13. This trade represents a 13.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 22,125 shares of company stock worth $5,438,227. Insiders own 6.60% of the company's stock.

About Steel Dynamics

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company's product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.

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