Banque Cantonale Vaudoise Sells 2,793 Shares of Steel Dynamics, Inc. $STLD

Banque Cantonale Vaudoise decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 21.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,005 shares of the basic materials company’s stock after selling 2,793 shares during the period. Banque Cantonale Vaudoise’s holdings in Steel Dynamics were worth $1,801,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Jacobi Capital Management LLC increased its position in Steel Dynamics by 1.6% during the 4th quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock valued at $599,000 after buying an additional 55 shares in the last quarter. Optas LLC boosted its holdings in Steel Dynamics by 3.0% in the fourth quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock worth $335,000 after acquiring an additional 58 shares in the last quarter. Hohimer Wealth Management LLC grew its stake in shares of Steel Dynamics by 1.1% in the fourth quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock worth $967,000 after acquiring an additional 61 shares during the last quarter. Wright Investors Service Inc. increased its holdings in shares of Steel Dynamics by 1.2% during the fourth quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock valued at $941,000 after acquiring an additional 64 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Steel Dynamics by 4.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company’s stock valued at $246,000 after acquiring an additional 70 shares in the last quarter. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Price Performance

NASDAQ STLD opened at $245.49 on Friday. The company has a market capitalization of $35.53 billion, a PE ratio of 26.26, a price-to-earnings-growth ratio of 0.49 and a beta of 1.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The business’s fifty day moving average is $244.38 and its 200 day moving average is $202.86. Steel Dynamics, Inc. has a fifty-two week low of $119.89 and a fifty-two week high of $288.74.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly 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). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The company had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the company earned $1.44 EPS. The business’s quarterly revenue was up 19.1% compared to the same quarter last year. Sell-side analysts predict that Steel Dynamics, Inc. will post 16.78 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is presently 22.67%.

Insider Activity

In other news, Director Kenneth W. Cornew sold 5,000 shares of the firm’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the sale, the director directly owned 31,299 shares in the company, valued at $7,038,206.13. This trade represents a 13.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Miguel Alvarez sold 4,825 shares of Steel Dynamics 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 owned 122,257 shares in the company, valued at approximately $27,578,734.06. This trade represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 22,125 shares of company stock valued at $5,438,226. 6.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

STLD has been the topic of a number of analyst reports. KeyCorp upped their price target on shares of Steel Dynamics from $241.00 to $262.00 and gave the stock an “overweight” rating in a research note on Wednesday. Citigroup upped their target price on shares of 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. increased their price target on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. Weiss Ratings raised shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Finally, Bank of America decreased their price objective on shares of Steel Dynamics from $285.00 to $280.00 and set a “neutral” rating for the company in a report on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $236.36.

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.