Steel Dynamics, Inc. (NASDAQ:STLD) Stock Holdings Increased by Peregrine Capital Management LLC

Peregrine Capital Management LLC boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 3.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,826 shares of the basic materials company's stock after buying an additional 2,437 shares during the period. Peregrine Capital Management LLC's holdings in Steel Dynamics were worth $8,984,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of STLD. Bank of New York Mellon Corp grew its holdings in shares of Steel Dynamics by 12.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,027,341 shares of the basic materials company's stock worth $117,189,000 after purchasing an additional 114,485 shares during the period. Mn Services Vermogensbeheer B.V. lifted its position in Steel Dynamics by 4.6% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 27,100 shares of the basic materials company's stock valued at $3,091,000 after buying an additional 1,200 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Steel Dynamics during the fourth quarter worth approximately $10,555,000. Versor Investments LP grew its stake in Steel Dynamics by 15.1% during the fourth quarter. Versor Investments LP now owns 1,956 shares of the basic materials company's stock worth $223,000 after buying an additional 256 shares during the period. Finally, Kinsale Capital Group Inc. acquired a new stake in shares of Steel Dynamics in the fourth quarter worth $1,824,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Down 2.4%

Shares of STLD stock traded down $3.20 during mid-day trading on Monday, reaching $128.01. 1,288,504 shares of the company were exchanged, compared to its average volume of 1,531,006. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.38 and a current ratio of 2.74. The business's 50 day simple moving average is $130.23 and its 200 day simple moving average is $125.96. The company has a market capitalization of $19.00 billion, a P/E ratio of 16.91, a P/E/G ratio of 0.99 and a beta of 1.38. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.04. The firm had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.17 billion. Steel Dynamics had a return on equity of 13.26% and a net margin of 6.80%. During the same quarter in the prior year, the firm posted $3.67 earnings per share. Research analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, June 30th. Steel Dynamics's payout ratio is 26.42%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on STLD shares. Wall Street Zen lowered shares of Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective on the stock in a research note on Monday, March 24th. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $135.00 to $138.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Morgan Stanley increased 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. Finally, BMO Capital Markets raised Steel Dynamics from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $135.00 to $145.00 in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Steel Dynamics currently has a consensus rating of "Moderate Buy" and an average price target of $148.00.

Insider Transactions at Steel Dynamics

In related news, Director Gabriel Shaheen sold 1,254 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $134.11, for a total value of $168,173.94. Following the completion of the transaction, the director owned 81,812 shares in the company, valued at $10,971,807.32. This represents a 1.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Miguel Alvarez sold 7,495 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the transaction, the senior vice president owned 125,319 shares in the company, valued at $16,950,647.94. This represents a 5.64% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is owned by company 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.