SageGuard Financial Group LLC Trims Position in Steel Dynamics, Inc. $STLD

SageGuard Financial Group LLC decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 22.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 37,517 shares of the basic materials company’s stock after selling 10,830 shares during the quarter. Steel Dynamics makes up approximately 1.0% of SageGuard Financial Group LLC’s investment portfolio, making the stock its 29th largest position. SageGuard Financial Group LLC’s holdings in Steel Dynamics were worth $6,753,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Prosperity Bancshares Inc purchased a new stake in Steel Dynamics during the 4th quarter valued at approximately $25,000. MV Capital Management Inc. acquired a new stake in Steel Dynamics during the 4th quarter worth approximately $27,000. Sound Income Strategies LLC grew its stake in shares of Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 150 shares during the last quarter. DV Equities LLC purchased a new position in shares of Steel Dynamics in the 4th quarter valued at approximately $33,000. Finally, Torren Management LLC acquired a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $34,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Citigroup upped their price target on Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Barclays assumed coverage on shares of Steel Dynamics in a research report on Thursday, May 21st. They set an “overweight” rating and a $270.00 price objective for the company. Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of “Moderate Buy” and a consensus price target of $236.36.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $245.49 on Monday. The business’s fifty day moving average price is $244.38 and its 200 day moving average price is $203.12. The firm has a market capitalization of $35.53 billion, a PE ratio of 26.26, a P/E/G ratio of 0.48 and a beta of 1.50. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $288.74.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. Steel Dynamics’s revenue was up 19.1% compared to the same quarter last year. During the same period last year, the business posted $1.44 EPS. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 16.78 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be paid a $0.53 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. Steel Dynamics’s dividend payout ratio (DPR) is 22.67%.

Insider Activity at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the sale, the senior vice president owned 28,618 shares of the company’s stock, valued at approximately $6,699,759.98. The trade was a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the transaction, the senior vice president owned 102,837 shares in the company, valued at $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,125 shares of company stock worth $5,438,226 over the last three months. 6.60% of the stock is currently owned by company insiders.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.