Steel Dynamics, Inc. $STLD Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP grew its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 19.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,255 shares of the basic materials company’s stock after buying an additional 13,042 shares during the quarter. Quantinno Capital Management LP owned 0.06% of Steel Dynamics worth $14,626,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Prosperity Bancshares Inc purchased a new stake in shares of Steel Dynamics during the fourth quarter worth about $25,000. MV Capital Management Inc. purchased a new stake in Steel Dynamics during the 4th quarter worth approximately $27,000. Sound Income Strategies LLC raised its position in shares of Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 150 shares in the last quarter. Cedar Mountain Advisors LLC acquired a new position in shares of Steel Dynamics in the 1st quarter valued at approximately $31,000. Finally, DV Equities LLC purchased a new position in shares of Steel Dynamics during the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Barclays increased their target price on Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Citigroup increased their target price on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Wells Fargo & Company cut their target price on shares of Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. upped their target price on Steel Dynamics from $256.00 to $260.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $249.00.

Insider Buying and Selling

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the transaction, the senior vice president owned 102,837 shares in the company, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the sale, the senior vice president owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This trade represents a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.60% of the stock is owned by insiders.

Steel Dynamics Stock Performance

STLD opened at $251.26 on Monday. The business has a 50 day moving average price of $248.64 and a two-hundred day moving average price of $214.32. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45. The company has a market capitalization of $36.01 billion, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 0.47 and a beta of 1.52. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $288.74.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The company had revenue of $6.09 billion for the quarter, compared to analysts’ expectations of $5.56 billion. During the same period last year, the firm earned $2.01 EPS. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. Research analysts predict that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were paid a $0.53 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. Steel Dynamics’s payout ratio is currently 19.22%.

Steel Dynamics Company 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.