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

Other institutional investors also recently modified their holdings of the company. Ritholtz Wealth Management lifted its position in shares of Steel Dynamics by 24.4% during the 1st quarter. Ritholtz Wealth Management now owns 6,687 shares of the basic materials company's stock valued at $836,000 after acquiring an additional 1,310 shares during the period. Farther Finance Advisors LLC raised its holdings in Steel Dynamics by 10.4% during the first quarter. Farther Finance Advisors LLC now owns 1,535 shares of the basic materials company's stock worth $190,000 after buying an additional 145 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Steel Dynamics by 31.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company's stock valued at $3,441,000 after buying an additional 6,604 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Steel Dynamics by 124.1% in the first quarter. Golden State Wealth Management LLC now owns 948 shares of the basic materials company's stock valued at $119,000 after buying an additional 525 shares in the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Steel Dynamics by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 16,583 shares of the basic materials company's stock valued at $2,074,000 after buying an additional 435 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Christopher A. Graham sold 12,000 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total value 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 approximately $8,456,371.98. This trade represents a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on STLD shares. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research note on Monday, July 14th. Wells Fargo & Company raised shares of Steel Dynamics to a "strong-buy" rating in a research note on Thursday, August 14th. Finally, Morgan Stanley raised their price objective on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $148.70.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $130.65 on Monday. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $155.56. The company has a 50-day simple moving average of $129.59 and a 200 day simple moving average of $127.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. The company has a market capitalization of $19.23 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.06 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.05 by ($0.04). The company had revenue of $4.57 billion for 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%.The business's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the business posted $2.72 EPS. On average, research analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

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

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.

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