Bailard Inc. Decreases Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Bailard Inc. cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 92,882 shares of the basic materials company’s stock after selling 1,829 shares during the quarter. Bailard Inc. owned 0.06% of Steel Dynamics worth $12,028,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Steel Dynamics during the fourth quarter valued at approximately $221,817,000. Sapient Capital LLC purchased a new stake in Steel Dynamics during the 4th quarter valued at $38,750,000. Swedbank AB bought a new stake in Steel Dynamics in the first quarter worth $32,178,000. Acadian Asset Management LLC boosted its stake in Steel Dynamics by 21.6% during the first quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock worth $168,550,000 after buying an additional 202,312 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Steel Dynamics by 4.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock valued at $534,295,000 after acquiring an additional 152,254 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

STLD has been the subject of several analyst reports. BMO Capital Markets lowered their target price on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a research report on Tuesday, July 16th. Bank of America reduced their price target on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Morgan Stanley upped their price objective on Steel Dynamics from $134.00 to $138.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group began coverage on Steel Dynamics in a research report on Monday, May 20th. They set a “hold” rating and a $150.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $138.14.

Steel Dynamics Stock Up 1.5 %

Steel Dynamics stock traded up $1.85 during midday trading on Monday, hitting $122.73. 1,015,454 shares of the company’s stock were exchanged, compared to its average volume of 1,227,425. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The company has a market cap of $19.28 billion, a PE ratio of 8.41 and a beta of 1.35. The firm has a 50-day moving average of $124.71 and a two-hundred day moving average of $130.63. Steel Dynamics, Inc. has a 12 month low of $95.53 and a 12 month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The company’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period last year, the firm earned $4.81 earnings per share. As a group, analysts expect that Steel Dynamics, Inc. will post 10.74 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Monday, September 30th. Steel Dynamics’s payout ratio is 12.64%.

About Steel Dynamics

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.