Sterling Capital Management LLC Has $767,000 Stock Position in Steel Dynamics, Inc. $STLD

Sterling Capital Management LLC reduced its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 42.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,262 shares of the basic materials company’s stock after selling 3,167 shares during the quarter. Sterling Capital Management LLC’s holdings in Steel Dynamics were worth $767,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fisher Asset Management LLC boosted its stake in shares of Steel Dynamics by 47.2% during the 3rd quarter. Fisher Asset Management LLC now owns 34,878 shares of the basic materials company’s stock worth $4,863,000 after buying an additional 11,183 shares during the last quarter. Strs Ohio increased its position in shares of Steel Dynamics by 7.3% in the fourth quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock valued at $26,075,000 after acquiring an additional 10,519 shares during the last quarter. Concentric Capital Strategies LP bought a new stake in Steel Dynamics during the third quarter worth about $24,349,000. Robeco Institutional Asset Management B.V. raised its holdings in Steel Dynamics by 3.7% during the fourth 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 acquiring an additional 72,122 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 purchasing an additional 10,537 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $221.76 on Thursday. The stock has a 50 day simple moving average of $245.98 and a 200 day simple moving average of $204.36. The stock has a market cap of $32.09 billion, a P/E ratio of 23.72, a PEG ratio of 0.45 and a beta of 1.53. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $288.74. 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 posted its quarterly earnings data 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 in the previous year, the business earned $1.44 EPS. The firm’s quarterly revenue was up 19.1% on a year-over-year basis. Research analysts anticipate that Steel Dynamics, Inc. will post 16.78 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a yield of 1.0%. Steel Dynamics’s payout ratio is currently 22.67%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the transaction, the senior vice president owned 28,618 shares in the company, valued at $6,699,759.98. This represents a 7.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Miguel Alvarez sold 4,825 shares of the business’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total value of $1,088,423.50. Following the completion of the sale, the senior vice president owned 122,257 shares of the company’s stock, valued at approximately $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 22,125 shares of company stock worth $5,438,226. 6.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on STLD shares. Citigroup raised their target price on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. 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 cut their target price on shares of Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating for the company in a research note on Thursday, June 18th. Finally, Barclays started coverage on Steel Dynamics in a report on Thursday, May 21st. They set an “overweight” rating and a $270.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company’s 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 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.