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

Verdence Capital Advisors LLC lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 37.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,603 shares of the basic materials company’s stock after selling 3,964 shares during the period. Verdence Capital Advisors LLC’s holdings in Steel Dynamics were worth $845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of STLD. Farther Finance Advisors LLC raised its position in shares of Steel Dynamics by 10.4% during the 1st quarter. Farther Finance Advisors LLC now owns 1,535 shares of the basic materials company’s stock worth $190,000 after acquiring an additional 145 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Steel Dynamics by 47.9% during the 1st quarter. GAMMA Investing LLC now owns 3,579 shares of the basic materials company’s stock worth $448,000 after acquiring an additional 1,159 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Steel Dynamics by 13.2% during the 1st quarter. Fifth Third Bancorp now owns 6,956 shares of the basic materials company’s stock worth $870,000 after acquiring an additional 809 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Steel Dynamics by 31.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company’s stock worth $3,441,000 after acquiring an additional 6,604 shares in the last quarter. Finally, Ritholtz Wealth Management raised its position in shares of Steel Dynamics by 24.4% during the 1st quarter. Ritholtz Wealth Management now owns 6,687 shares of the basic materials company’s stock worth $836,000 after acquiring an additional 1,310 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on STLD shares. Morgan Stanley raised their target price on Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a research report on Friday, June 20th. Wells Fargo & Company lifted their price target on Steel Dynamics from $143.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. lifted their price target on Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steel Dynamics in a research report on Wednesday, October 8th. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, Steel Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $149.89.

Steel Dynamics Trading Up 1.0%

NASDAQ:STLD opened at $146.98 on Wednesday. The firm has a market cap of $21.64 billion, a P/E ratio of 21.43, a PEG ratio of 1.18 and a beta of 1.40. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. The stock’s 50 day simple moving average is $134.20 and its 200-day simple moving average is $130.21. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its 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 company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.82 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.72 EPS. Equities analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 1.4%. Steel Dynamics’s payout ratio is presently 29.15%.

Insider Activity

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