Genus Capital Management Inc. Decreases Holdings in Steel Dynamics, Inc. $STLD

Genus Capital Management Inc. lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 5.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,619 shares of the basic materials company’s stock after selling 2,835 shares during the period. Genus Capital Management Inc.’s holdings in Steel Dynamics were worth $6,352,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in STLD. Financial Gravity Asset Management Inc. purchased a new stake in Steel Dynamics during the first quarter worth about $25,000. Cary Street Partners Investment Advisory LLC increased 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 worth $25,000 after buying an additional 163 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new stake in Steel Dynamics during the second quarter worth about $30,000. Zions Bancorporation National Association UT purchased a new stake in Steel Dynamics during the first quarter worth about $32,000. Finally, WPG Advisers LLC purchased a new stake in Steel Dynamics during the first quarter worth about $32,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on STLD shares. UBS Group set a $165.00 price objective on shares of Steel Dynamics in a report on Tuesday. Wells Fargo & Company lifted their target price on shares of Steel Dynamics from $150.00 to $169.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. KeyCorp boosted their price target on shares of Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Steel Dynamics in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group set a $172.00 price target on shares of Steel Dynamics and gave the company a “neutral” rating in a research report on Friday. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of “Moderate Buy” and an average price target of $170.11.

Insider Buying and Selling

In related news, SVP Miguel Alvarez sold 8,251 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the completion of the transaction, the senior vice president owned 117,068 shares of the company’s stock, valued at approximately $19,057,499.72. The trade was a 6.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.30% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $151.62 on Wednesday. The company’s 50 day moving average is $141.95 and its 200-day moving average is $134.03. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $164.73. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. The firm has a market cap of $22.14 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 1.39 and a beta of 1.45.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.63 by $0.11. The company had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. Steel Dynamics’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.05 earnings per share. Sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.00 annualized dividend and a yield of 1.3%. Steel Dynamics’s payout ratio is currently 26.49%.

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.