Steel Dynamics, Inc. $STLD Shares Sold by Boston Common Asset Management LLC

Key Points

• Boston Common Asset Management LLC reduced its holdings in Steel Dynamics, Inc. by 25.6% during the second quarter, now owning 69,787 shares valued at approximately $8.93 million.
• Steel Dynamics recently reported a quarterly earnings per share of $2.01, falling short of analyst expectations by 4 cents and marking a 1.5% decrease in revenue compared to the prior year.
• Brokerage firms have upgraded their target prices for Steel Dynamics, with Wells Fargo raising it from $143 to $150, indicating an overall positive sentiment reflected in the consensus rating of "Moderate Buy."

Boston Common Asset Management LLC trimmed its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 25.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,787 shares of the basic materials company's stock after selling 24,050 shares during the quarter. Boston Common Asset Management LLC's holdings in Steel Dynamics were worth $8,933,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ritholtz Wealth Management increased 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 worth $836,000 after purchasing an additional 1,310 shares during the last quarter. Farther Finance Advisors LLC increased its stake 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 purchasing an additional 145 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Steel Dynamics by 31.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company's stock worth $3,441,000 after purchasing an additional 6,604 shares in the last quarter. Golden State Wealth Management LLC grew its holdings 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 purchasing an additional 525 shares in the last quarter. Finally, State of Alaska Department of Revenue grew its holdings 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 purchasing an additional 435 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on STLD. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Steel Dynamics in a research note on Saturday, September 27th. Wells Fargo & Company upped their target price on shares of Steel Dynamics from $143.00 to $150.00 and gave the stock an "overweight" rating in a research note on Monday, September 15th. Morgan Stanley upped their target price 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. Finally, JPMorgan Chase & Co. upped their target price 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. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $148.78.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $145.09 on Friday. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The stock has a 50 day moving average of $131.56 and a two-hundred day moving average of $129.32. The stock has a market cap of $21.36 billion, a P/E ratio of 21.15, a P/E/G ratio of 1.18 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data 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 11.88%. The firm had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter in the prior year, the firm posted $2.72 EPS. Steel Dynamics's quarterly revenue was down 1.5% compared to the same quarter last year. On average, research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders 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 dividend on an annualized basis and a yield of 1.4%. Steel Dynamics's payout ratio is currently 29.15%.

Insider Activity

In other news, SVP Christopher A. Graham sold 12,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following the transaction, the senior vice president owned 66,738 shares of the company's stock, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.30% of the company's stock.

Steel Dynamics Profile

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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