Steel Dynamics, Inc. $STLD Shares Sold by Liberty One Investment Management LLC

Liberty One Investment Management LLC reduced its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,637 shares of the basic materials company’s stock after selling 262 shares during the period. Liberty One Investment Management LLC’s holdings in Steel Dynamics were worth $594,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in STLD. Victory Capital Management Inc. boosted its holdings in shares of Steel Dynamics by 433.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company’s stock valued at $227,211,000 after acquiring an additional 1,475,767 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Steel Dynamics by 25.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company’s stock valued at $883,854,000 after acquiring an additional 1,437,897 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Steel Dynamics by 531.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,191,669 shares of the basic materials company’s stock valued at $149,054,000 after acquiring an additional 1,002,813 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Steel Dynamics by 43.3% in the 2nd quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock valued at $271,238,000 after acquiring an additional 630,935 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Steel Dynamics in the 1st quarter valued at $62,470,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $153.82 on Wednesday. The company’s fifty day moving average price is $136.53 and its 200 day moving average price is $131.11. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $156.24. The company has a market capitalization of $22.64 billion, a PE ratio of 20.37, a price-to-earnings-growth ratio of 1.20 and a beta of 1.40. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Monday, October 20th. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.93%. The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the firm posted $2.05 earnings per share. The firm’s quarterly revenue was up 11.2% 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 business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 29.15%.

Analyst Ratings Changes

Several analysts have recently commented on STLD shares. JPMorgan Chase & Co. upped their price objective on shares of Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Wells Fargo & Company upped their price objective on shares of Steel Dynamics from $143.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, September 15th. UBS Group set a $158.00 price objective on shares of Steel Dynamics and gave the company a “buy” rating in a report on Tuesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Steel Dynamics in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Steel Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $150.89.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the stock in a transaction on Wednesday, July 30th. The shares were 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 of the company’s stock, valued at $8,456,371.98. This trade represents 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. 6.30% of the stock is currently owned by insiders.

Steel Dynamics 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.