TD Asset Management Inc Has $6.37 Million Stock Position in Steel Dynamics, Inc. $STLD

TD Asset Management Inc decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.6% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 49,740 shares of the basic materials company’s stock after selling 1,307 shares during the period. TD Asset Management Inc’s holdings in Steel Dynamics were worth $6,367,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Steel Dynamics by 47.9% during the 1st quarter. GAMMA Investing LLC now owns 3,579 shares of the basic materials company’s stock worth $448,000 after purchasing an additional 1,159 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Steel Dynamics by 31.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company’s stock valued at $3,441,000 after acquiring an additional 6,604 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in Steel Dynamics in the 1st quarter valued at about $2,968,000. State of Alaska Department of Revenue lifted its stake in Steel Dynamics by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 16,583 shares of the basic materials company’s stock valued at $2,074,000 after purchasing an additional 435 shares during the last quarter. Finally, Praxis Investment Management Inc. lifted its position in Steel Dynamics by 63.5% during the first quarter. Praxis Investment Management Inc. now owns 3,090 shares of the basic materials company’s stock worth $386,000 after acquiring an additional 1,200 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $142.75 on Monday. The firm’s 50-day moving average price is $135.49 and its 200-day moving average price is $130.69. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56. The firm has a market capitalization of $21.01 billion, a P/E ratio of 20.81, a P/E/G ratio of 1.17 and a beta of 1.40. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Monday, July 21st. The basic materials company reported $2.01 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.04). Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the company posted $2.72 EPS. Steel Dynamics’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. Steel Dynamics’s payout ratio is presently 29.15%.

Wall Street Analysts Forecast Growth

STLD has been the subject of a number of analyst reports. Wells Fargo & Company lifted their price target on shares of Steel Dynamics from $143.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steel Dynamics in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, October 13th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.89.

Insider Activity at Steel Dynamics

In other news, SVP Christopher A. Graham sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the sale, the senior vice president directly owned 66,738 shares of the company’s stock, valued at $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.30% of the stock is currently owned by insiders.

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.