Steel Dynamics, Inc. (NASDAQ:STLD) Stake Cut by BlackRock Inc.

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BlackRock Inc. cut its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 7.1% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 22,951,702 shares of the basic materials company’s stock after selling 1,744,766 shares during the period. BlackRock Inc. owned 0.10% of Steel Dynamics worth $693,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Signaturefd LLC lifted its stake in Steel Dynamics by 752.6% during the second quarter. Signaturefd LLC now owns 1,151 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 1,016 shares during the last quarter. Stonebridge Capital Advisors LLC acquired a new stake in Steel Dynamics in the second quarter worth $39,000. AdvisorNet Financial Inc acquired a new stake in Steel Dynamics in the second quarter worth $43,000. Zions Bancorporation N.A. increased its position in Steel Dynamics by 440.5% in the second quarter. Zions Bancorporation N.A. now owns 1,454 shares of the basic materials company’s stock worth $44,000 after buying an additional 1,185 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new stake in Steel Dynamics in the second quarter worth $66,000. Hedge funds and other institutional investors own 79.96% of the company’s stock.

Shares of NASDAQ STLD opened at $31.62 on Friday. Steel Dynamics, Inc. has a 1-year low of $25.02 and a 1-year high of $41.02. The business’s fifty day moving average price is $29.89 and its two-hundred day moving average price is $29.48. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.00 and a quick ratio of 2.24. The firm has a market capitalization of $6.77 billion, a PE ratio of 5.76, a P/E/G ratio of 0.86 and a beta of 1.66.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $0.69 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.01). Steel Dynamics had a return on equity of 22.08% and a net margin of 7.44%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.62 billion. During the same period last year, the business earned $1.69 earnings per share. Equities research analysts expect that Steel Dynamics, Inc. will post 3.03 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, September 27th. Steel Dynamics’s dividend payout ratio (DPR) is presently 17.49%.

In other news, SVP Miguel Alvarez purchased 8,920 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $27.72 per share, with a total value of $247,262.40. Following the purchase, the senior vice president now directly owns 700 shares of the company’s stock, valued at $19,404. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.90% of the stock is owned by company insiders.

Several equities research analysts have weighed in on the company. Longbow Research lowered Steel Dynamics from a “buy” rating to a “neutral” rating in a research report on Monday, August 26th. Bank of America dropped their target price on Steel Dynamics from $34.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. BidaskClub raised Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Tuesday, October 29th. BMO Capital Markets lowered Steel Dynamics to a “hold” rating and set a $30.00 target price on the stock. in a research report on Friday, September 13th. Finally, ValuEngine raised Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Steel Dynamics currently has an average rating of “Hold” and a consensus price target of $32.64.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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