Vanguard Group Inc. Has $2.95 Billion Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Vanguard Group Inc. lowered its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,872,502 shares of the basic materials company’s stock after selling 107,893 shares during the quarter. Vanguard Group Inc. owned 12.58% of Steel Dynamics worth $2,945,701,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC bought a new stake in Steel Dynamics during the first quarter worth about $25,000. LifeSteps Financial Inc. bought a new stake in shares of Steel Dynamics during the 1st quarter worth approximately $26,000. CVA Family Office LLC acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Steel Dynamics in the fourth quarter valued at $29,000. Finally, Lindbrook Capital LLC grew its holdings in Steel Dynamics by 117.5% during the fourth quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 134 shares during the period. 82.41% of the stock is owned by institutional investors.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the sale, the senior vice president now owns 60,415 shares of the company’s stock, valued at approximately $8,265,376.15. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 6.00% of the company’s stock.

Steel Dynamics Price Performance

Shares of STLD traded down $0.69 during trading hours on Friday, hitting $128.44. 1,226,004 shares of the company were exchanged, compared to its average volume of 1,507,770. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. Steel Dynamics, Inc. has a fifty-two week low of $95.53 and a fifty-two week high of $151.34. The company has a market cap of $20.18 billion, a price-to-earnings ratio of 8.82 and a beta of 1.35. The firm’s fifty day moving average is $128.83 and its 200 day moving average is $129.56.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the prior year, the company posted $4.81 earnings per share. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, equities analysts anticipate that Steel Dynamics, Inc. will post 11.44 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Sunday, June 30th were paid a $0.46 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.84 dividend on an annualized basis and a yield of 1.43%. Steel Dynamics’s dividend payout ratio (DPR) is 12.64%.

Wall Street Analyst Weigh In

Several analysts have issued reports on STLD shares. JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Tuesday, July 16th. Jefferies Financial Group started coverage on Steel Dynamics in a report on Monday, May 20th. They set a “hold” rating and a $150.00 price target for the company. Bank of America decreased their price objective on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Finally, BMO Capital Markets lowered their price target on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $133.86.

Steel Dynamics Company Profile

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.