Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 17.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 661 shares of the basic materials company’s stock after selling 135 shares during the quarter. Sentry Investment Management LLC’s holdings in Steel Dynamics were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC acquired a new position in shares of Steel Dynamics during the 1st quarter valued at $25,000. LifeSteps Financial Inc. purchased a new stake in Steel Dynamics during the 1st quarter worth $26,000. Security National Bank purchased a new stake in Steel Dynamics during the 4th quarter worth $30,000. Innealta Capital LLC purchased a new stake in Steel Dynamics during the 2nd quarter worth $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Steel Dynamics during the 2nd quarter worth $41,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Bank of America dropped their price target on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Jefferies Financial Group began coverage on shares of Steel Dynamics in a research report on Monday, May 20th. They issued a “hold” rating and a $150.00 target price for the company. JPMorgan Chase & Co. raised shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $120.00 to $131.00 in a research report on Monday, September 9th. Finally, Morgan Stanley boosted their target price on shares of Steel Dynamics from $134.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $143.43.

Steel Dynamics Trading Up 2.1 %

NASDAQ STLD opened at $112.84 on Friday. Steel Dynamics, Inc. has a one year low of $95.53 and a one year high of $151.34. The company has a 50-day simple moving average of $121.20 and a 200-day simple moving average of $129.58. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The firm has a market capitalization of $17.41 billion, a PE ratio of 7.75 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. Steel Dynamics’s revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the business posted $4.81 EPS. On average, equities analysts forecast that Steel Dynamics, Inc. will post 10.81 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Monday, September 30th. Steel Dynamics’s payout ratio is 12.64%.

About Steel Dynamics

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.