1832 Asset Management L.P. Sells 183 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

1832 Asset Management L.P. lowered its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,200 shares of the basic materials company’s stock after selling 183 shares during the quarter. 1832 Asset Management L.P.’s holdings in Steel Dynamics were worth $2,740,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its stake in shares of Steel Dynamics by 9.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock valued at $126,000 after purchasing an additional 88 shares during the period. Signaturefd LLC boosted its position in Steel Dynamics by 0.9% in the 4th quarter. Signaturefd LLC now owns 10,698 shares of the basic materials company’s stock valued at $1,263,000 after buying an additional 93 shares during the period. Global Retirement Partners LLC grew its stake in Steel Dynamics by 25.8% in the 4th quarter. Global Retirement Partners LLC now owns 478 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 98 shares in the last quarter. Allworth Financial LP increased its position in shares of Steel Dynamics by 2.2% during the fourth quarter. Allworth Financial LP now owns 4,853 shares of the basic materials company’s stock worth $573,000 after acquiring an additional 103 shares during the period. Finally, Greenfield Savings Bank increased its position in shares of Steel Dynamics by 0.9% during the fourth quarter. Greenfield Savings Bank now owns 11,591 shares of the basic materials company’s stock worth $1,369,000 after acquiring an additional 108 shares during the period. Institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling

In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of the stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the completion of the sale, the senior vice president now directly owns 60,415 shares in the company, valued at $8,265,376.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. 6.00% of the stock is owned by company insiders.

Steel Dynamics Price Performance

Shares of STLD stock opened at $125.52 on Friday. The company has a market cap of $19.72 billion, a P/E ratio of 8.62 and a beta of 1.40. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. The stock’s 50-day moving average is $136.03 and its 200 day moving average is $127.64. Steel Dynamics, Inc. has a 1-year low of $95.53 and a 1-year high of $151.34.

Steel Dynamics (NASDAQ:STLDGet Free Report) last issued its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the firm earned $4.01 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. Research analysts predict that Steel Dynamics, Inc. will post 12.44 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be given a $0.46 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.47%. Steel Dynamics’s payout ratio is 12.64%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Citigroup increased their price objective on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Jefferies Financial Group started coverage on Steel Dynamics in a research report on Monday, May 20th. They set a “hold” rating and a $150.00 price target on the stock. BMO Capital Markets lifted their price objective on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Monday, March 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Steel Dynamics has an average rating of “Hold” and an average price target of $125.29.

View Our Latest Stock Report on Steel Dynamics

About Steel Dynamics

(Free Report)

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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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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