Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Fmr LLC

FMR LLC lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,702,882 shares of the basic materials company’s stock after selling 81,626 shares during the quarter. FMR LLC owned 1.22% of Steel Dynamics worth $95,330,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cleararc Capital Inc. purchased a new position in Steel Dynamics during the 1st quarter valued at about $208,000. Nordea Investment Management AB grew its stake in shares of Steel Dynamics by 1.4% in the first quarter. Nordea Investment Management AB now owns 276,470 shares of the basic materials company’s stock worth $9,751,000 after acquiring an additional 3,767 shares during the period. Advisory Services Network LLC grew its stake in shares of Steel Dynamics by 810.9% in the first quarter. Advisory Services Network LLC now owns 19,357 shares of the basic materials company’s stock worth $683,000 after acquiring an additional 17,232 shares during the period. Cerebellum GP LLC grew its stake in shares of Steel Dynamics by 14.9% in the first quarter. Cerebellum GP LLC now owns 9,496 shares of the basic materials company’s stock worth $335,000 after acquiring an additional 1,229 shares during the period. Finally, Marshall Wace LLP grew its stake in shares of Steel Dynamics by 1,482.6% in the first quarter. Marshall Wace LLP now owns 593,892 shares of the basic materials company’s stock worth $20,947,000 after acquiring an additional 556,366 shares during the period. Hedge funds and other institutional investors own 81.70% of the company’s stock.

Shares of Steel Dynamics stock traded up $0.76 during midday trading on Friday, hitting $31.47. The company had a trading volume of 2,335,984 shares, compared to its average volume of 2,652,120. Steel Dynamics, Inc. has a 12-month low of $25.02 and a 12-month high of $49.70. The company has a current ratio of 4.02, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $6.83 billion, a PE ratio of 5.73, a price-to-earnings-growth ratio of 0.80 and a beta of 1.55. The business has a fifty day moving average price of $28.59.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Monday, April 22nd. The basic materials company reported $0.91 EPS for the quarter, hitting analysts’ consensus estimates of $0.91. Steel Dynamics had a net margin of 10.26% and a return on equity of 33.56%. The business had revenue of $2.82 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter last year, the company earned $0.96 EPS. The business’s revenue was up 8.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Steel Dynamics, Inc. will post 3.19 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Sunday, June 30th were paid a dividend of $0.24 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.96 annualized dividend and a yield of 3.05%. Steel Dynamics’s dividend payout ratio (DPR) is presently 17.49%.

STLD has been the subject of several recent research reports. UBS Group set a $70.00 target price on shares of Lumentum and gave the company a “buy” rating in a research report on Wednesday, May 8th. Deutsche Bank reiterated a “hold” rating on shares of Steel Dynamics in a research report on Thursday, June 27th. BidaskClub downgraded shares of Ames National from a “hold” rating to a “sell” rating in a report on Wednesday. Bank of America set a $77.00 price target on shares of Zscaler and gave the company a “neutral” rating in a research note on Friday, May 31st. Finally, Macquarie set a $36.00 target price on shares of Steel Dynamics and gave the company a “hold” rating in a research note on Tuesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Steel Dynamics has a consensus rating of “Buy” and a consensus price target of $42.54.

In other news, insider Russell B. Rinn bought 2,000 shares of the company’s stock in a transaction on Friday, May 31st. The stock was bought at an average cost of $25.58 per share, with a total value of $51,160.00. Following the transaction, the insider now directly owns 220,459 shares in the company, valued at approximately $5,639,341.22. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gabriel Shaheen acquired 5,000 shares of the stock in a transaction dated Friday, May 24th. The shares were bought at an average cost of $27.03 per share, with a total value of $135,150.00. Following the completion of the transaction, the director now owns 58,635 shares of the company’s stock, valued at approximately $1,584,904.05. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 12,740 shares of company stock worth $336,296. 4.90% of the stock is currently owned by corporate insiders.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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

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