Valeo Financial Advisors LLC Has $1.12 Million Stake in Steel Dynamics, Inc. $STLD

Key Points

• Valeo Financial Advisors LLC cut its stake in Steel Dynamics by 44.5% in the fourth quarter, leaving it with 6,634 shares valued at about $1.12 million.
• Several other institutional investors also adjusted positions, while 82.41% of Steel Dynamics stock is now held by institutions and hedge funds.
• Insiders sold shares recently, including Director Kenneth W. Cornew and SVP Miguel Alvarez, even as analysts remain mixed on the stock with a consensus rating of Hold and a price target of $214.30.

Valeo Financial Advisors LLC reduced its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 44.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,634 shares of the basic materials company's stock after selling 5,328 shares during the period. Valeo Financial Advisors LLC's holdings in Steel Dynamics were worth $1,124,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Optas LLC grew its holdings in Steel Dynamics by 3.0% during the 4th quarter. Optas LLC now owns 1,979 shares of the basic materials company's stock worth $335,000 after acquiring an additional 58 shares during the period. Versant Capital Management Inc grew its holdings in Steel Dynamics by 13.2% during the 3rd quarter. Versant Capital Management Inc now owns 548 shares of the basic materials company's stock worth $76,000 after acquiring an additional 64 shares during the period. Wright Investors Service Inc. grew its holdings in Steel Dynamics by 1.2% during the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company's stock worth $941,000 after acquiring an additional 64 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Steel Dynamics by 4.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company's stock worth $246,000 after acquiring an additional 70 shares during the period. Finally, Choreo LLC grew its holdings in Steel Dynamics by 3.3% during the 3rd quarter. Choreo LLC now owns 2,521 shares of the basic materials company's stock worth $353,000 after acquiring an additional 80 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Kenneth W. Cornew sold 5,000 shares of the firm's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total value of $1,124,350.00. Following the transaction, the director owned 31,299 shares of the company's stock, valued at approximately $7,038,206.13. This trade represents a 13.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Miguel Alvarez sold 4,825 shares of the firm's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the completion of the transaction, the senior vice president directly owned 122,257 shares in the company, valued at approximately $27,578,734.06. The trade was a 3.80% decrease in their position. The SEC filing for this sale provides additional information. 6.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on STLD shares. BMO Capital Markets increased their price target on Steel Dynamics from $195.00 to $240.00 and gave the stock an "outperform" rating in a report on Wednesday, April 22nd. Morgan Stanley reiterated an "underperform" rating and set a $190.00 price target on shares of Steel Dynamics in a report on Tuesday, March 17th. Bank of America cut shares of Steel Dynamics from a "buy" rating to a "neutral" rating and set a $250.00 price objective on the stock. in a research report on Thursday, April 30th. Wall Street Zen raised shares of Steel Dynamics from a "hold" rating to a "buy" rating in a research report on Saturday, April 18th. Finally, Weiss Ratings raised shares of Steel Dynamics from a "hold (c)" rating to a "buy (b-)" rating in a research report on Wednesday, April 29th. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $214.30.

Steel Dynamics Price Performance

STLD stock opened at $232.80 on Wednesday. The stock has a market capitalization of $33.57 billion, a PE ratio of 24.90, a price-to-earnings-growth ratio of 0.50 and a beta of 1.48. The company's 50-day moving average is $195.78 and its 200-day moving average is $180.98. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $243.73.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.Steel Dynamics's revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period last year, the company earned $1.44 EPS. Equities research analysts expect that Steel Dynamics, Inc. will post 14.77 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.9%. Steel Dynamics's dividend payout ratio (DPR) is presently 22.67%.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company's product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.

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