Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by SteelPeak Wealth LLC

SteelPeak Wealth LLC decreased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 85.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,689 shares of the basic materials company’s stock after selling 15,242 shares during the period. SteelPeak Wealth LLC’s holdings in Steel Dynamics were worth $400,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in STLD. Franklin Resources Inc. raised its holdings in Steel Dynamics by 12.0% in the 4th quarter. Franklin Resources Inc. now owns 344,569 shares of the basic materials company’s stock valued at $40,694,000 after acquiring an additional 37,033 shares during the last quarter. Nordea Investment Management AB lifted its position in Steel Dynamics by 1.1% during the fourth quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock worth $118,787,000 after buying an additional 11,026 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Steel Dynamics by 1.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 17,321 shares of the basic materials company’s stock worth $2,046,000 after buying an additional 278 shares during the last quarter. Schroder Investment Management Group grew its holdings in Steel Dynamics by 15.3% in the 4th quarter. Schroder Investment Management Group now owns 743,697 shares of the basic materials company’s stock valued at $87,831,000 after buying an additional 98,764 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Steel Dynamics in the 4th quarter valued at about $14,762,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In related news, SVP Christopher A. Graham sold 21,000 shares of the stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.10% of the company’s stock.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $129.50 on Monday. The firm has a market capitalization of $20.35 billion, a PE ratio of 8.89 and a beta of 1.35. Steel Dynamics, Inc. has a one year low of $95.53 and a one year high of $151.34. The stock’s 50 day moving average price is $130.28 and its 200 day moving average price is $128.83. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.55 and a current ratio of 2.87.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. The business had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $4.01 earnings per share. As a group, sell-side analysts expect that Steel Dynamics, Inc. will post 11.64 EPS 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. Stockholders 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 dividend yield of 1.42%. Steel Dynamics’s dividend payout ratio is presently 12.64%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on STLD. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Jefferies Financial Group initiated coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They set a “hold” rating and a $150.00 price objective for the company. Citigroup lifted their target price on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. Bank of America lowered their price target on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Finally, BMO Capital Markets cut their price objective on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a report on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and a consensus target price of $129.63.

Steel Dynamics Company 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.