Steel Dynamics, Inc. $STLD Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 25.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,030 shares of the basic materials company’s stock after selling 12,144 shares during the period. Natixis Advisors LLC’s holdings in Steel Dynamics were worth $5,936,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fisher Asset Management LLC boosted its position in shares of Steel Dynamics by 47.2% during the third quarter. Fisher Asset Management LLC now owns 34,878 shares of the basic materials company’s stock worth $4,863,000 after buying an additional 11,183 shares during the period. Strs Ohio lifted its position in Steel Dynamics by 7.3% in the fourth quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock worth $26,075,000 after purchasing an additional 10,519 shares during the period. Concentric Capital Strategies LP acquired a new stake in Steel Dynamics in the third quarter worth approximately $24,349,000. Robeco Institutional Asset Management B.V. lifted its position in Steel Dynamics by 3.7% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock worth $340,289,000 after purchasing an additional 72,122 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ lifted its position in Steel Dynamics by 16.4% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 47,912 shares of the basic materials company’s stock worth $6,680,000 after purchasing an additional 6,738 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Trading Down 0.5%

NASDAQ STLD opened at $267.20 on Tuesday. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $280.49. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $38.67 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 0.57 and a beta of 1.50. The firm’s fifty day simple moving average is $222.85 and its 200-day simple moving average is $193.61.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same period last year, the company posted $1.44 earnings per share. The company’s revenue was up 19.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is presently 22.67%.

Wall Street Analysts Forecast Growth

STLD has been the subject of a number of research analyst reports. Wall Street Zen upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Citigroup upped their target price on Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Barclays started coverage on Steel Dynamics in a research report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 target price for the company. Finally, BMO Capital Markets increased their price objective on Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Steel Dynamics has an average rating of “Moderate Buy” and a consensus price target of $224.64.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, Director Kenneth W. Cornew sold 5,000 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the transaction, the director directly owned 31,299 shares of the company’s stock, valued at $7,038,206.13. This represents a 13.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the transaction, the senior vice president directly owned 28,618 shares in the company, valued at $6,699,759.98. The trade was a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 22,125 shares of company stock valued at $5,438,227. Corporate insiders own 6.60% of the company’s stock.

Steel Dynamics 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.