Mutual of America Capital Management LLC Lowers Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Mutual of America Capital Management LLC lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,464 shares of the basic materials company’s stock after selling 496 shares during the period. Mutual of America Capital Management LLC’s holdings in Steel Dynamics were worth $2,059,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of STLD. Ritholtz Wealth Management raised its stake in Steel Dynamics by 24.4% during the 1st quarter. Ritholtz Wealth Management now owns 6,687 shares of the basic materials company’s stock valued at $836,000 after buying an additional 1,310 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Steel Dynamics by 10.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,535 shares of the basic materials company’s stock valued at $190,000 after buying an additional 145 shares in the last quarter. Orion Portfolio Solutions LLC raised its position in shares of Steel Dynamics by 63.4% during the 4th quarter. Orion Portfolio Solutions LLC now owns 7,354 shares of the basic materials company’s stock valued at $839,000 after buying an additional 2,854 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Steel Dynamics by 31.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company’s stock valued at $3,441,000 after buying an additional 6,604 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Steel Dynamics during the 4th quarter valued at about $16,495,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling

In related news, SVP Miguel Alvarez sold 7,495 shares of the company’s stock in a transaction that occurred 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 directly owned 125,319 shares of the company’s stock, valued at $16,950,647.94. This represents a 5.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gabriel Shaheen sold 1,254 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the sale, the director directly owned 81,812 shares in the company, valued at approximately $10,971,807.32. The trade was a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by insiders.

Steel Dynamics Stock Performance

STLD opened at $131.63 on Friday. The firm has a market capitalization of $19.54 billion, a PE ratio of 17.39, a PEG ratio of 1.02 and a beta of 1.37. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The firm’s 50-day moving average price is $131.65 and its 200 day moving average price is $127.53. The company has a current ratio of 2.74, a quick ratio of 1.38 and a debt-to-equity ratio of 0.44.

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

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Monday, June 30th. Steel Dynamics’s dividend payout ratio (DPR) is 26.42%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on STLD. Morgan Stanley increased their price objective on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, June 20th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 target price on the stock in a research report on Monday, March 24th. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday, July 14th. BMO Capital Markets upgraded shares of Steel Dynamics from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $135.00 to $145.00 in a research note on Monday, March 31st. Finally, Wall Street Zen downgraded shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.33.

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.