Peregrine Capital Management LLC Sells 11,080 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Peregrine Capital Management LLC decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 67,127 shares of the basic materials company's stock after selling 11,080 shares during the quarter. Peregrine Capital Management LLC's holdings in Steel Dynamics were worth $7,928,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its stake in Steel Dynamics by 28.9% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,438 shares of the basic materials company's stock valued at $642,000 after acquiring an additional 1,220 shares during the last quarter. Tobam acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at $56,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at $29,000. International Assets Investment Management LLC raised its holdings in Steel Dynamics by 415.3% during the fourth quarter. International Assets Investment Management LLC now owns 107,825 shares of the basic materials company's stock valued at $12,734,000 after buying an additional 86,902 shares in the last quarter. Finally, BSW Wealth Partners acquired a new stake in shares of Steel Dynamics in the fourth quarter worth about $250,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Stock Performance

NASDAQ STLD traded down $2.08 during midday trading on Wednesday, hitting $144.65. The company had a trading volume of 1,133,936 shares, compared to its average volume of 1,183,454. The firm has a fifty day simple moving average of $133.78 and a two-hundred day simple moving average of $119.81. Steel Dynamics, Inc. has a fifty-two week low of $90.55 and a fifty-two week high of $151.34. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30. The stock has a market cap of $22.85 billion, a price-to-earnings ratio of 9.91 and a beta of 1.42.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share for the quarter, missing analysts' consensus estimates of $2.63 by ($0.02). The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.22 billion. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The firm's quarterly revenue was down 12.3% compared to the same quarter last year. During the same period last year, the business earned $4.37 earnings per share. Equities analysts forecast that Steel Dynamics, Inc. will post 11.6 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 14th. Investors of record on Sunday, March 31st will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.27%. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, March 27th. Steel Dynamics's dividend payout ratio is presently 12.61%.

Analyst Ratings Changes

A number of research analysts have recently commented on STLD shares. Citigroup increased their price objective on Steel Dynamics from $130.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, March 13th. UBS Group reduced their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a "neutral" rating for the company in a research note on Wednesday, January 24th. JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $95.00 to $98.00 and gave the company an "underweight" rating in a research note on Tuesday, December 12th. Finally, BMO Capital Markets boosted their target price on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a "market perform" rating in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, Steel Dynamics has an average rating of "Hold" and a consensus target price of $117.43.

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.