Steel Dynamics, Inc. $STLD Shares Sold by Boston Common Asset Management LLC

Boston Common Asset Management LLC lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 25.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 69,787 shares of the basic materials company’s stock after selling 24,050 shares during the period. Boston Common Asset Management LLC’s holdings in Steel Dynamics were worth $8,933,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Ritholtz Wealth Management increased its holdings in shares of Steel Dynamics by 24.4% in the first quarter. Ritholtz Wealth Management now owns 6,687 shares of the basic materials company’s stock valued at $836,000 after purchasing an additional 1,310 shares during the period. Farther Finance Advisors LLC grew its holdings in Steel Dynamics by 10.4% during the first 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 during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Steel Dynamics by 31.6% during the first 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 during the period. Golden State Wealth Management LLC grew its holdings in Steel Dynamics by 124.1% during the first quarter. Golden State Wealth Management LLC now owns 948 shares of the basic materials company’s stock worth $119,000 after acquiring an additional 525 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in Steel Dynamics by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 16,583 shares of the basic materials company’s stock worth $2,074,000 after acquiring an additional 435 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on STLD. Wells Fargo & Company upped their price objective on Steel Dynamics from $143.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Morgan Stanley upped their price objective on Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, June 20th. JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $138.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steel Dynamics in a report on Saturday, September 27th. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $148.78.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $145.09 on Friday. The business’s 50-day moving average price is $131.56 and its 200 day moving average price is $129.32. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The company has a market capitalization of $21.36 billion, a PE ratio of 21.15, a price-to-earnings-growth 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.

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

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors 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 annualized dividend and a yield of 1.4%. Steel Dynamics’s dividend payout ratio is 29.15%.

Insiders Place Their Bets

In related news, SVP Christopher A. Graham sold 12,000 shares of the stock in a transaction dated 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 directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 6.30% of the company’s stock.

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.