Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Strategic Investment Advisors MI

Strategic Investment Advisors MI trimmed its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 24.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,666 shares of the basic materials company's stock after selling 2,432 shares during the quarter. Strategic Investment Advisors MI's holdings in Steel Dynamics were worth $959,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Steel Dynamics during the 4th quarter worth $336,426,000. Capital Research Global Investors lifted its stake in Steel Dynamics by 29.4% in the fourth quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company's stock worth $409,816,000 after acquiring an additional 815,629 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Steel Dynamics by 8.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company's stock worth $642,033,000 after acquiring an additional 451,630 shares in the last quarter. GAMMA Investing LLC grew its holdings in Steel Dynamics by 18,398.4% during the 1st quarter. GAMMA Investing LLC now owns 447,661 shares of the basic materials company's stock worth $55,993,000 after acquiring an additional 445,241 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Steel Dynamics by 14.1% during the 4th quarter. First Trust Advisors LP now owns 3,179,062 shares of the basic materials company's stock valued at $362,636,000 after purchasing an additional 393,516 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Miguel Alvarez sold 7,495 shares of the business's stock in a transaction 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 sale, the senior vice president now directly owns 125,319 shares of the company's stock, valued at $16,950,647.94. The trade was a 5.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gabriel Shaheen sold 1,254 shares of the firm's stock in a transaction 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 completion of the transaction, the director now owns 81,812 shares of the company's stock, valued at $10,971,807.32. This trade represents a 1.51% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by company insiders.

Steel Dynamics Stock Up 2.4%

Shares of STLD traded up $3.02 during midday trading on Thursday, hitting $131.50. 1,251,933 shares of the company's stock traded hands, compared to its average volume of 1,532,106. The company has a current ratio of 2.74, a quick ratio of 1.38 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $19.52 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 0.97 and a beta of 1.38. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56. The firm's fifty day moving average is $129.70 and its 200-day moving average is $126.09.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $0.04. Steel Dynamics had a return on equity of 13.26% and a net margin of 6.80%. The company had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.17 billion. During the same period last year, the business posted $3.67 earnings per share. As a group, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Monday, June 30th. Steel Dynamics's dividend payout ratio is presently 26.42%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wolfe Research raised shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research report on Thursday, February 27th. 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 report on Thursday, April 24th. Wall Street Zen cut Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. BMO Capital Markets upgraded Steel Dynamics from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $135.00 to $145.00 in a report on Monday, March 31st. Finally, UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective for the company in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.00.

Steel Dynamics Company 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.