Steel Dynamics, Inc. $STLD Shares Sold by Burney Co.

Burney Co. lessened its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 32.8% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,712 shares of the basic materials company’s stock after selling 1,808 shares during the period. Burney Co.’s holdings in Steel Dynamics were worth $475,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD boosted its stake in shares of Steel Dynamics by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company’s stock valued at $883,854,000 after acquiring an additional 1,437,897 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Steel Dynamics by 43.3% during the second quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock valued at $271,238,000 after acquiring an additional 630,935 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Steel Dynamics by 433.1% during the first quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company’s stock valued at $227,211,000 after acquiring an additional 1,475,767 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Steel Dynamics by 40.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock valued at $214,541,000 after acquiring an additional 484,304 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Steel Dynamics by 3.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,599,076 shares of the basic materials company’s stock valued at $200,012,000 after acquiring an additional 52,218 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on STLD shares. UBS Group set a $165.00 price objective on Steel Dynamics in a research note on Tuesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Steel Dynamics in a research note on Wednesday, October 8th. BMO Capital Markets upped their target price on Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Jefferies Financial Group upped their target price on Steel Dynamics from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Finally, The Goldman Sachs Group set a $172.00 target price on Steel Dynamics and gave the company a “neutral” rating in a research note on Friday, October 31st. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $170.11.

Insider Buying and Selling

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the transaction, the senior vice president owned 117,068 shares of the company’s stock, valued at $19,057,499.72. This trade represents a 6.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 6.30% of the stock is currently owned by corporate insiders.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $154.13 on Thursday. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $164.73. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.34. The firm has a market capitalization of $22.51 billion, a P/E ratio of 20.41, a P/E/G ratio of 1.39 and a beta of 1.45. The company’s fifty day moving average price is $142.38 and its two-hundred day moving average price is $134.17.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.11. The company had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the business earned $2.05 EPS. On average, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is currently 26.49%.

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.