Steel Dynamics, Inc. $STLD Shares Sold by Paradiem LLC

Paradiem LLC lowered its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 18.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,921 shares of the basic materials company’s stock after selling 16,664 shares during the period. Steel Dynamics makes up 2.9% of Paradiem LLC’s holdings, making the stock its 15th largest position. Paradiem LLC’s holdings in Steel Dynamics were worth $13,126,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in STLD. Prosperity Bancshares Inc acquired a new position in shares of Steel Dynamics during the fourth quarter valued at $25,000. MV Capital Management Inc. acquired a new stake in Steel Dynamics in the fourth quarter worth about $27,000. Sound Income Strategies LLC lifted its holdings in Steel Dynamics by 1,500.0% in the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 150 shares during the period. Cedar Mountain Advisors LLC bought a new position in Steel Dynamics in the 1st quarter valued at about $31,000. Finally, DV Equities LLC bought a new position in Steel Dynamics in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Buying and Selling

In other news, SVP Richard A. Poinsatte sold 2,300 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the transaction, the senior vice president directly owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Miguel Alvarez sold 4,825 shares of Steel Dynamics stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the completion of the transaction, the senior vice president directly owned 122,257 shares in the company, valued at approximately $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 22,125 shares of company stock worth $5,438,226. Company insiders own 6.60% of the company’s stock.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $228.42 on Monday. The company has a market capitalization of $33.06 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 0.44 and a beta of 1.53. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The stock has a fifty day moving average of $246.00 and a 200-day moving average of $206.96. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $288.74.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The business’s revenue was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.44 earnings per share. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 16.73 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were paid a $0.53 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. Steel Dynamics’s dividend payout ratio (DPR) is currently 22.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Bank of America lowered their target price on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday. Wells Fargo & Company decreased their price objective on shares of Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating for the company in a report on Thursday, June 18th. Morgan Stanley raised their price objective on shares of Steel Dynamics from $227.00 to $270.00 and gave the company an “equal weight” rating in a research note on Monday, June 22nd. Barclays assumed coverage on Steel Dynamics in a report on Thursday, May 21st. They set an “overweight” rating and a $270.00 target price on the stock. Finally, Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of “Moderate Buy” and a consensus price target of $234.55.

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.