Sterling Capital Management LLC Sells 3,167 Shares of Steel Dynamics, Inc. $STLD

Sterling Capital Management LLC lessened its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 42.6% in the first quarter, HoldingsChannel.com reports. The fund owned 4,262 shares of the basic materials company’s stock after selling 3,167 shares during the period. Sterling Capital Management LLC’s holdings in Steel Dynamics were worth $767,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in STLD. Fisher Asset Management LLC lifted its stake in Steel Dynamics by 47.2% during the third quarter. Fisher Asset Management LLC now owns 34,878 shares of the basic materials company’s stock worth $4,863,000 after purchasing an additional 11,183 shares during the last quarter. Strs Ohio increased its stake in shares of Steel Dynamics by 7.3% in the 4th quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock valued at $26,075,000 after purchasing an additional 10,519 shares during the last quarter. Concentric Capital Strategies LP acquired a new position in shares of Steel Dynamics during the 3rd quarter worth $24,349,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Steel Dynamics by 3.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock worth $340,289,000 after buying an additional 72,122 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Steel Dynamics by 1.0% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,046,791 shares of the basic materials company’s stock worth $145,953,000 after buying an additional 10,537 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

STLD has been the topic of several research analyst reports. Citigroup raised their price objective on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Morgan Stanley increased their target price on shares of Steel Dynamics from $227.00 to $270.00 and gave the stock an “equal weight” rating in a report on Monday, June 22nd. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Wells Fargo & Company lowered their price objective on shares of Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating for the company in a research report on Thursday, June 18th. Finally, BMO Capital Markets increased their price objective on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $236.36.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $221.76 on Thursday. The stock has a 50-day moving average price of $245.98 and a two-hundred day moving average price of $204.36. Steel Dynamics, Inc. has a 12 month low of $119.89 and a 12 month high of $288.74. The company has a market capitalization of $32.09 billion, a PE ratio of 23.72, a P/E/G ratio of 0.45 and a beta of 1.53. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the firm posted $1.44 earnings per share. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. Analysts expect that Steel Dynamics, Inc. will post 16.78 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 1.0%. Steel Dynamics’s dividend payout ratio (DPR) is currently 22.67%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the transaction, the senior vice president directly owned 102,837 shares in the company, valued at approximately $27,632,301.90. This represents a 8.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the transaction, the senior vice president directly owned 122,257 shares of the company’s stock, valued at $27,578,734.06. The trade was a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 22,125 shares of company stock valued at $5,438,226. 6.60% of the stock is owned by 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.