Intech Investment Management LLC Lowers Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Intech Investment Management LLC lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 34.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 111,904 shares of the basic materials company’s stock after selling 58,972 shares during the period. Intech Investment Management LLC’s holdings in Steel Dynamics were worth $13,216,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. CVA Family Office LLC purchased a new position in Steel Dynamics in the 4th quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC purchased a new position in Steel Dynamics in the 4th quarter valued at approximately $29,000. Lindbrook Capital LLC boosted its position in Steel Dynamics by 117.5% in the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after buying an additional 134 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Steel Dynamics during the 4th quarter worth $44,000. Finally, Denali Advisors LLC lifted its position in shares of Steel Dynamics by 99.0% during the 4th quarter. Denali Advisors LLC now owns 406 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling

In related news, SVP Christopher A. Graham sold 21,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the sale, the senior vice president now owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on STLD. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, March 18th. Jefferies Financial Group assumed coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They set a “hold” rating and a $150.00 price target on the stock. Finally, Citigroup lifted their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $125.29.

Steel Dynamics Stock Performance

NASDAQ STLD traded down $0.23 during trading on Friday, reaching $133.34. The company’s stock had a trading volume of 628,884 shares, compared to its average volume of 1,052,721. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.55 and a current ratio of 2.87. The firm has a market cap of $20.95 billion, a price-to-earnings ratio of 9.16 and a beta of 1.47. Steel Dynamics, Inc. has a twelve month low of $90.55 and a twelve month high of $151.34. The business’s fifty day moving average price is $138.76 and its 200-day moving average price is $126.30.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.54 by $0.13. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. Steel Dynamics’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the business posted $4.01 earnings per share. As a group, analysts anticipate that Steel Dynamics, Inc. will post 12.44 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Friday, June 28th. 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.