Liberty One Investment Management LLC Decreases Holdings in Steel Dynamics, Inc. $STLD

Liberty One Investment Management LLC trimmed its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 5.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 4,637 shares of the basic materials company’s stock after selling 262 shares during the quarter. Liberty One Investment Management LLC’s holdings in Steel Dynamics were worth $594,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC lifted its holdings in Steel Dynamics by 493.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 163 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Steel Dynamics in the first quarter valued at about $25,000. Trust Co. of Toledo NA OH acquired a new stake in shares of Steel Dynamics in the second quarter valued at about $30,000. Zions Bancorporation National Association UT acquired a new stake in shares of Steel Dynamics in the first quarter valued at about $32,000. Finally, WPG Advisers LLC acquired a new stake in shares of Steel Dynamics in the first quarter valued at about $32,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Steel Dynamics

In related news, SVP Christopher A. Graham sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the sale, the senior vice president directly owned 66,738 shares in the company, valued at approximately $8,456,371.98. This trade represents a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on STLD. JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Steel Dynamics in a research report on Wednesday, October 8th. UBS Group set a $158.00 target price on shares of Steel Dynamics and gave the company a “buy” rating in a research report on Tuesday. Finally, Wells Fargo & Company increased their target price on shares of Steel Dynamics from $143.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $150.89.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $153.82 on Wednesday. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $156.24. The stock has a market cap of $22.64 billion, a P/E ratio of 20.37, a PEG ratio of 1.20 and a beta of 1.40. The company has a 50-day moving average price of $136.53 and a 200 day moving average price of $131.11. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Monday, October 20th. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.11. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.93%. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period last year, the business earned $2.05 earnings per share. Steel Dynamics’s revenue was up 11.2% compared to the same quarter last year. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.3%. The ex-dividend date was Tuesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 29.15%.

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.