Orion Porfolio Solutions LLC Decreases Stock Holdings in Steel Dynamics, Inc. $STLD

Orion Porfolio Solutions LLC lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 34.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,222 shares of the basic materials company’s stock after selling 3,820 shares during the quarter. Orion Porfolio Solutions LLC’s holdings in Steel Dynamics were worth $924,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in shares of Steel Dynamics by 119.3% during the second quarter. Allworth Financial LP now owns 11,012 shares of the basic materials company’s stock valued at $1,410,000 after acquiring an additional 5,991 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Steel Dynamics by 21.9% during the second quarter. Nomura Asset Management Co. Ltd. now owns 88,558 shares of the basic materials company’s stock worth $11,336,000 after purchasing an additional 15,931 shares in the last quarter. Edgestream Partners L.P. raised its stake in Steel Dynamics by 477.1% in the 2nd quarter. Edgestream Partners L.P. now owns 32,427 shares of the basic materials company’s stock valued at $4,151,000 after purchasing an additional 26,808 shares during the last quarter. Korea Investment CORP raised its stake in Steel Dynamics by 17.7% in the 2nd quarter. Korea Investment CORP now owns 133,975 shares of the basic materials company’s stock valued at $17,150,000 after purchasing an additional 20,135 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Steel Dynamics by 1.2% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 163,399 shares of the basic materials company’s stock valued at $20,917,000 after purchasing an additional 1,954 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company increased their target price on shares of Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. Morgan Stanley upped their price objective on shares of Steel Dynamics from $145.00 to $173.00 and gave the company an “overweight” rating in a report on Friday, October 24th. The Goldman Sachs Group set a $172.00 target price on shares of Steel Dynamics and gave the stock a “neutral” rating in a research note on Friday, October 31st. UBS Group set a $165.00 price target on shares of Steel Dynamics in a research note on Tuesday, November 4th. Finally, KeyCorp raised their price target on shares of Steel Dynamics from $152.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $176.89.

Steel Dynamics Stock Up 0.8%

Shares of NASDAQ:STLD opened at $177.20 on Wednesday. The firm has a 50 day simple moving average of $160.48 and a 200-day simple moving average of $142.37. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $178.36. The company has a current ratio of 3.11, a quick ratio of 1.47 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $25.88 billion, a PE ratio of 23.47, a P/E/G ratio of 1.19 and a beta of 1.47.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the firm posted $2.05 EPS. The company’s revenue was up 11.2% on a year-over-year basis. On average, equities analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.1%. Steel Dynamics’s dividend payout ratio is 26.49%.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the sale, the senior vice president owned 117,068 shares in the company, valued at approximately $19,057,499.72. The trade was a 6.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.30% of the stock is owned by corporate insiders.

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.