Lingohr Asset Management GmbH Decreases Position in Steel Dynamics, Inc. $STLD

Key Points

• Lingohr Asset Management GmbH significantly reduced its stake in Steel Dynamics, Inc. by 92.8%, now owning 2,919 shares valued at $374,000.
• Several institutional investors made notable adjustments, with Wealth Enhancement Advisory Services LLC increasing its stake by 31.6%, now holding 27,511 shares valued at $3,441,000.
• Steel Dynamics announced a quarterly dividend of $0.50 per share, representing an annualized dividend yield of 1.5%.

Lingohr Asset Management GmbH lowered its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 92.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,919 shares of the basic materials company's stock after selling 37,830 shares during the quarter. Lingohr Asset Management GmbH's holdings in Steel Dynamics were worth $374,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Forum Financial Management LP grew its position in shares of Steel Dynamics by 2.5% during the fourth quarter. Forum Financial Management LP now owns 3,113 shares of the basic materials company's stock valued at $355,000 after purchasing an additional 75 shares in the last quarter. Hemington Wealth Management grew its holdings in Steel Dynamics by 35.9% during the 1st quarter. Hemington Wealth Management now owns 318 shares of the basic materials company's stock valued at $39,000 after buying an additional 84 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Steel Dynamics by 1.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,803 shares of the basic materials company's stock valued at $726,000 after buying an additional 91 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in Steel Dynamics by 25.0% during the 1st quarter. Sunbelt Securities Inc. now owns 500 shares of the basic materials company's stock valued at $63,000 after buying an additional 100 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in Steel Dynamics by 6.3% during the 1st quarter. Parallel Advisors LLC now owns 1,734 shares of the basic materials company's stock valued at $217,000 after buying an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company's stock.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the stock in a transaction dated 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 sale, the senior vice president directly owned 66,738 shares of the company's stock, valued at approximately $8,456,371.98. This represents a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.30% of the stock is owned by company insiders.

Steel Dynamics Stock Up 0.3%

NASDAQ:STLD traded up $0.42 during mid-day trading on Friday, reaching $140.26. The company's stock had a trading volume of 587,624 shares, compared to its average volume of 1,573,848. The stock has a fifty day moving average of $129.69 and a 200-day moving average of $128.17. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56. The firm has a market capitalization of $20.65 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.11 and a beta of 1.40. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.04). The business had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.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 company posted $2.72 EPS. Equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Steel Dynamics's dividend payout ratio is 29.15%.

Wall Street Analyst Weigh In

STLD has been the subject of a number of recent research reports. Wells Fargo & Company raised their target price on shares of Steel Dynamics from $143.00 to $150.00 and gave the company an "overweight" rating in a report on Monday. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Finally, Morgan Stanley lifted their price objective on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Nine analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $149.40.

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.