Kennedy Capital Management LLC Sells 20,824 Shares of Steel Dynamics, Inc. $STLD

Kennedy Capital Management LLC cut its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 16.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 105,430 shares of the basic materials company’s stock after selling 20,824 shares during the period. Kennedy Capital Management LLC owned approximately 0.07% of Steel Dynamics worth $14,700,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC grew its stake in Steel Dynamics by 1,636.4% in the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 180 shares in the last quarter. Toth Financial Advisory Corp raised its stake in shares of Steel Dynamics by 50.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 100 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Steel Dynamics by 44.3% in the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after buying an additional 93 shares during the last quarter. CNB Bank acquired a new stake in shares of Steel Dynamics in the 3rd quarter valued at approximately $43,000. Finally, Root Financial Partners LLC bought a new position in shares of Steel Dynamics in the third quarter valued at $48,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD traded down $1.97 during trading hours on Friday, reaching $173.13. 166,360 shares of the stock were exchanged, compared to its average volume of 1,297,708. The firm has a market capitalization of $25.08 billion, a price-to-earnings ratio of 21.61, a P/E/G ratio of 0.50 and a beta of 1.43. The stock’s fifty day simple moving average is $184.92 and its 200 day simple moving average is $163.56. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $208.47.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.10. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.62 billion. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.36 EPS. Sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, March 31st. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s dividend payout ratio (DPR) is currently 24.97%.

Analysts Set New Price Targets

Several analysts have issued reports on STLD shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. Morgan Stanley reissued an “equal weight” rating and issued a $194.00 price objective (up from $173.00) on shares of Steel Dynamics in a research report on Friday, January 9th. KeyCorp restated an “overweight” rating and set a $190.00 price objective on shares of Steel Dynamics in a research note on Wednesday, January 7th. Jefferies Financial Group raised their target price on shares of Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Finally, Wall Street Zen lowered Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. Five equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Steel Dynamics presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.22.

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.