Kapitalo Investimentos Ltda Reduces Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Kapitalo Investimentos Ltda lowered its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 40.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,918 shares of the basic materials company’s stock after selling 2,613 shares during the quarter. Kapitalo Investimentos Ltda’s holdings in Steel Dynamics were worth $463,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in shares of Steel Dynamics by 9.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock worth $126,000 after acquiring an additional 88 shares in the last quarter. Signaturefd LLC raised its position in shares of Steel Dynamics by 0.9% in the 4th quarter. Signaturefd LLC now owns 10,698 shares of the basic materials company’s stock worth $1,263,000 after acquiring an additional 93 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Steel Dynamics by 25.8% in the 4th quarter. Global Retirement Partners LLC now owns 478 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 98 shares in the last quarter. Allworth Financial LP raised its position in shares of Steel Dynamics by 2.2% in the 4th quarter. Allworth Financial LP now owns 4,853 shares of the basic materials company’s stock worth $573,000 after acquiring an additional 103 shares in the last quarter. Finally, Greenfield Savings Bank raised its position in shares of Steel Dynamics by 0.9% in the 4th quarter. Greenfield Savings Bank now owns 11,591 shares of the basic materials company’s stock worth $1,369,000 after acquiring an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on STLD. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Jefferies Financial Group began coverage on Steel Dynamics in a research report on Monday, May 20th. They set a “hold” rating and a $150.00 price objective for the company. BMO Capital Markets reduced their price objective on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research report on Tuesday. Finally, Citigroup raised their price objective on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics presently has an average rating of “Hold” and an average target price of $127.43.

Insider Transactions at Steel Dynamics

In other news, SVP Christopher A. Graham sold 21,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the transaction, the senior vice president now directly owns 60,415 shares in the company, valued at approximately $8,265,376.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.10% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD opened at $125.00 on Wednesday. The business’s fifty day simple moving average is $132.99 and its two-hundred day simple moving average is $128.18. The company has a current ratio of 2.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.29. Steel Dynamics, Inc. has a 12 month low of $95.53 and a 12 month high of $151.34. The company has a market cap of $19.64 billion, a price-to-earnings ratio of 8.59 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the business posted $4.01 EPS. The company’s revenue was down 4.1% compared to the same quarter last year. Research analysts anticipate that Steel Dynamics, Inc. will post 12.14 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.84 annualized dividend and a yield of 1.47%. Steel Dynamics’s dividend payout ratio is 12.64%.

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.