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Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Fractal Investments LLC

Steel Dynamics logo with Basic Materials background

Fractal Investments LLC trimmed its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 50.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,694 shares of the basic materials company's stock after selling 2,743 shares during the quarter. Fractal Investments LLC's holdings in Steel Dynamics were worth $337,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Financial Gravity Asset Management Inc. bought a new stake in Steel Dynamics during the first quarter valued at approximately $25,000. Grove Bank & Trust grew its position in shares of Steel Dynamics by 194.7% in the 1st quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock worth $35,000 after buying an additional 183 shares during the period. Wayfinding Financial LLC purchased a new stake in Steel Dynamics during the 1st quarter valued at about $36,000. Bartlett & CO. Wealth Management LLC purchased a new stake in Steel Dynamics during the 1st quarter valued at about $38,000. Finally, Investment Management Corp VA ADV bought a new position in Steel Dynamics during the 4th quarter valued at about $40,000. 82.41% of the stock is owned by institutional investors.

Insider Transactions at Steel Dynamics

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

Wall Street Analysts Forecast Growth

STLD has been the subject of a number of analyst reports. Wall Street Zen downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price target on the stock in a research note on Monday, March 24th. BMO Capital Markets raised Steel Dynamics from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $135.00 to $145.00 in a report on Monday, March 31st. JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Finally, Morgan Stanley upped their target price on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $149.33.

View Our Latest Research Report on STLD

Steel Dynamics Stock Down 1.7%

Shares of NASDAQ STLD traded down $2.29 during midday trading on Tuesday, hitting $132.24. 2,726,561 shares of the company's stock were exchanged, compared to its average volume of 1,531,082. The company has a market cap of $19.63 billion, a PE ratio of 19.28, a P/E/G ratio of 1.08 and a beta of 1.37. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The firm's fifty day simple moving average is $131.65 and its 200-day simple moving average is $127.64. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.38.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted 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). Steel Dynamics had a net margin of 6.07% and a return on equity of 11.85%. The business had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter last year, the firm earned $2.72 earnings per share. The firm's quarterly revenue was down 1.5% compared to the same quarter last year. Research analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend was Monday, June 30th. Steel Dynamics's dividend payout ratio is presently 26.42%.

Steel Dynamics Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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