Signaturefd LLC Has $1.31 Million Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Signaturefd LLC cut its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,135 shares of the basic materials company’s stock after selling 518 shares during the period. Signaturefd LLC’s holdings in Steel Dynamics were worth $1,312,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Franklin Resources Inc. raised its position in shares of Steel Dynamics by 12.0% in the fourth quarter. Franklin Resources Inc. now owns 344,569 shares of the basic materials company’s stock valued at $40,694,000 after buying an additional 37,033 shares in the last quarter. Nordea Investment Management AB increased its stake in Steel Dynamics by 2.5% in the first quarter. Nordea Investment Management AB now owns 1,034,133 shares of the basic materials company’s stock valued at $153,290,000 after acquiring an additional 25,280 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Steel Dynamics by 1.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 17,321 shares of the basic materials company’s stock worth $2,046,000 after buying an additional 278 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of Steel Dynamics by 15.3% during the fourth quarter. Schroder Investment Management Group now owns 743,697 shares of the basic materials company’s stock worth $87,831,000 after buying an additional 98,764 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Steel Dynamics by 1,498.4% during the first quarter. SG Americas Securities LLC now owns 29,730 shares of the basic materials company’s stock worth $4,407,000 after buying an additional 27,870 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on STLD. Morgan Stanley increased their price target on Steel Dynamics from $134.00 to $138.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. upped their price objective on shares of Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Tuesday, July 16th. 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 research note on Tuesday, June 18th. Jefferies Financial Group assumed coverage on Steel Dynamics in a research note on Monday, May 20th. They issued a “hold” rating and a $150.00 price target on the stock. Finally, Bank of America cut their target price on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $138.14.

Steel Dynamics Stock Up 0.6 %

STLD traded up $0.71 during trading on Friday, hitting $119.51. 1,174,151 shares of the company’s stock were exchanged, compared to its average volume of 1,222,835. The stock has a market cap of $18.44 billion, a P/E ratio of 8.21 and a beta of 1.35. The business’s 50 day moving average is $124.11 and its two-hundred day moving average is $130.39. 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 quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25.

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

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.54%. Steel Dynamics’s dividend payout ratio is presently 12.64%.

Steel Dynamics 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.