Steel Dynamics, Inc. $STLD Shares Sold by Boston Common Asset Management LLC

Boston Common Asset Management LLC lessened its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 7.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,682 shares of the basic materials company’s stock after selling 4,029 shares during the period. Boston Common Asset Management LLC’s holdings in Steel Dynamics were worth $9,483,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Strs Ohio boosted its stake in Steel Dynamics by 7.3% during the fourth quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock worth $26,075,000 after buying an additional 10,519 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Steel Dynamics by 3.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock worth $340,289,000 after acquiring an additional 72,122 shares during the last quarter. Econ Financial Services Corp acquired a new stake in shares of Steel Dynamics in the 4th quarter worth $1,171,000. AIA Group Ltd purchased a new position in shares of Steel Dynamics during the 3rd quarter worth $543,000. Finally, Canada Post Corp Registered Pension Plan raised its holdings in shares of Steel Dynamics by 70.5% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 11,692 shares of the basic materials company’s stock worth $1,981,000 after acquiring an additional 4,835 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the sale, the senior vice president owned 28,618 shares of the company’s stock, valued at $6,699,759.98. The trade was a 7.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth W. Cornew sold 5,000 shares of the company’s stock in a transaction on Thursday, April 23rd. The stock was 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 in the company, valued at $7,038,206.13. This trade represents a 13.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 22,125 shares of company stock worth $5,438,226. Company insiders own 6.60% of the company’s stock.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $235.51 on Monday. The company has a market capitalization of $34.08 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 0.45 and a beta of 1.53. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $288.74. The business has a 50-day moving average price of $245.95 and a 200 day moving average price of $209.05. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company’s quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.44 EPS. Sell-side analysts expect that Steel Dynamics, Inc. will post 16.92 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is currently 22.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. KeyCorp upped their price objective on shares of Steel Dynamics from $241.00 to $262.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. JPMorgan Chase & Co. decreased their target price on shares of Steel Dynamics from $262.00 to $256.00 and set a “neutral” rating on the stock in a report on Wednesday, July 15th. Bank of America dropped their price target on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. Finally, Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $239.18.

Steel Dynamics 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.