Woodline Partners LP Increases Stock Holdings in Steel Dynamics, Inc. $STLD

Woodline Partners LP increased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 147,808 shares of the basic materials company’s stock after buying an additional 6,584 shares during the quarter. Woodline Partners LP’s holdings in Steel Dynamics were worth $18,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STLD. Cetera Investment Advisers grew its stake in Steel Dynamics by 6.2% during the 4th quarter. Cetera Investment Advisers now owns 18,308 shares of the basic materials company’s stock worth $2,088,000 after buying an additional 1,071 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of Steel Dynamics in the fourth quarter valued at about $654,000. NorthRock Partners LLC acquired a new position in shares of Steel Dynamics in the fourth quarter valued at about $349,000. Mufg Securities Americas Inc. acquired a new position in shares of Steel Dynamics in the fourth quarter valued at about $238,000. Finally, Quantinno Capital Management LP increased its holdings in shares of Steel Dynamics by 60.4% in the fourth quarter. Quantinno Capital Management LP now owns 12,904 shares of the basic materials company’s stock valued at $1,472,000 after purchasing an additional 4,857 shares during the period. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wells Fargo & Company raised Steel Dynamics to a “strong-buy” rating in a report on Thursday, August 14th. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $138.00 to $150.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Finally, Morgan Stanley upped their target price on Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Steel Dynamics presently has an average rating of “Moderate Buy” and a consensus price target of $148.70.

Steel Dynamics Stock Up 1.9%

Shares of STLD opened at $132.72 on Thursday. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $155.56. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $19.54 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.05 and a beta of 1.40. The stock’s 50-day moving average price is $129.57 and its 200-day moving average price is $128.08.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.04). The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.72 EPS. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. Steel Dynamics’s dividend payout ratio is currently 29.15%.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the transaction, the senior vice president owned 66,738 shares in the company, valued at approximately $8,456,371.98. This represents a 15.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

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.