Steel Dynamics, Inc. $STLD Shares Sold by Denali Advisors LLC

Denali Advisors LLC trimmed its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 70.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,162 shares of the basic materials company’s stock after selling 7,508 shares during the quarter. Denali Advisors LLC’s holdings in Steel Dynamics were worth $405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of STLD. Financial Gravity Asset Management Inc. acquired a new stake in shares of Steel Dynamics in the 1st quarter valued at $25,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Steel Dynamics by 493.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock valued at $25,000 after buying an additional 163 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new position in shares of Steel Dynamics in the 2nd quarter valued at $30,000. Zions Bancorporation National Association UT purchased a new position in shares of Steel Dynamics in the 1st quarter valued at $32,000. Finally, WPG Advisers LLC purchased a new position in shares of Steel Dynamics in the 1st quarter valued at $32,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Jefferies Financial Group increased their target price on shares of Steel Dynamics from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steel Dynamics in a research report on Wednesday, October 8th. 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. BMO Capital Markets increased their target price on shares of Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, 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. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Steel Dynamics presently has an average rating of “Moderate Buy” and an average target price of $159.33.

Steel Dynamics Trading Down 3.4%

Shares of Steel Dynamics stock opened at $148.56 on Thursday. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $156.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. The company has a market capitalization of $21.87 billion, a P/E ratio of 19.68, a PEG ratio of 1.28 and a beta of 1.40. The company’s fifty day moving average is $136.91 and its two-hundred day moving average is $131.23.

Steel Dynamics (NASDAQ:STLD) last issued 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 company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the firm posted $2.05 EPS. Steel Dynamics’s revenue for the quarter was up 11.2% on a year-over-year basis. Analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.3%. Steel Dynamics’s payout ratio is presently 29.15%.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total value of $1,520,520.00. Following the sale, the senior vice president owned 66,738 shares of the company’s stock, valued at $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.30% of the stock is currently owned by insiders.

About Steel Dynamics

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.