Van Hulzen Asset Management LLC Sells 2,096 Shares of Steel Dynamics, Inc. $STLD

Key Points

• Van Hulzen Asset Management LLC sold 2,096 shares of Steel Dynamics, Inc., decreasing its stake by 8.9%, and now holds 21,472 shares worth approximately $2.69 million.
• Analyst ratings for Steel Dynamics have ranged from upgrades to a "strong-buy" by Wells Fargo to a lowered rating to "sell" by Wall Street Zen, with a current consensus rating of "Moderate Buy" and an average target price of $148.70.
• The company recently announced a quarterly dividend of $0.50 per share, with an annual yield of 1.6%, reflecting a payout ratio of 29.15%.

Van Hulzen Asset Management LLC lessened its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 8.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,472 shares of the basic materials company's stock after selling 2,096 shares during the quarter. Van Hulzen Asset Management LLC's holdings in Steel Dynamics were worth $2,686,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Financial Gravity Asset Management Inc. purchased a new position in Steel Dynamics in the first quarter valued at about $25,000. Cary Street Partners Investment Advisory LLC raised its stake in Steel Dynamics by 493.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company's stock valued at $25,000 after buying an additional 163 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Steel Dynamics during the 1st quarter worth approximately $32,000. Grove Bank & Trust lifted its holdings in Steel Dynamics by 194.7% during 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 last quarter. Finally, Wayfinding Financial LLC bought a new position in Steel Dynamics during the 1st quarter worth approximately $36,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Steel Dynamics Price Performance

NASDAQ:STLD traded up $0.62 during midday trading on Wednesday, hitting $132.35. 233,968 shares of the stock were exchanged, compared to its average volume of 1,610,211. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The company has a market capitalization of $19.48 billion, a price-to-earnings ratio of 19.31, a P/E/G ratio of 1.08 and a beta of 1.38. The business has a 50-day moving average price of $129.12 and a two-hundred day moving average price of $128.26. 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 (NASDAQ:STLD - Get Free Report) last issued its earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.05 by ($0.04). Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the previous year, the firm earned $2.72 earnings per share. The business's revenue was down 1.5% compared to the same quarter last year. Sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.5%. The ex-dividend date is Tuesday, September 30th. Steel Dynamics's dividend payout ratio (DPR) is 29.15%.

Analyst Upgrades and Downgrades

STLD has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Wells Fargo & Company raised Steel Dynamics to a "strong-buy" rating in a report on Thursday, August 14th. Finally, Morgan Stanley upped their target price on Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a report on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $148.70.

Insider Activity

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 sale, the director owned 81,812 shares in the company, valued at approximately $10,971,807.32. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher A. Graham sold 12,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 6.30% of the stock is owned by company insiders.

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.