Kennedy Capital Management LLC Sells 20,824 Shares of Steel Dynamics, Inc. $STLD

Kennedy Capital Management LLC lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 16.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 105,430 shares of the basic materials company’s stock after selling 20,824 shares during the period. Kennedy Capital Management LLC’s holdings in Steel Dynamics were worth $14,700,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cornerstone Planning Group LLC lifted its position in Steel Dynamics by 1,636.4% during the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 180 shares during the period. Toth Financial Advisory Corp increased its holdings in Steel Dynamics by 50.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock valued at $42,000 after buying an additional 100 shares during the period. Covestor Ltd raised its position in shares of Steel Dynamics by 44.3% in the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after buying an additional 93 shares in the last quarter. CNB Bank acquired a new position in shares of Steel Dynamics in the 3rd quarter valued at approximately $43,000. Finally, Root Financial Partners LLC bought a new stake in shares of Steel Dynamics during the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on STLD. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. JPMorgan Chase & Co. raised their target price on Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Wall Street Zen cut Steel Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. KeyCorp reaffirmed an “overweight” rating and issued a $190.00 price objective on shares of Steel Dynamics in a research note on Wednesday, January 7th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $194.00 target price (up from $173.00) on shares of Steel Dynamics in a research report on Friday, January 9th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $184.22.

Steel Dynamics Trading Down 1.1%

STLD traded down $1.97 during midday trading on Friday, hitting $173.13. 166,360 shares of the company were exchanged, compared to its average volume of 1,297,708. The firm’s 50 day moving average price is $184.92 and its 200-day moving average price is $163.56. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $208.47. The firm has a market capitalization of $25.08 billion, a P/E ratio of 21.61, a P/E/G ratio of 0.50 and a beta of 1.43. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.10. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.62 billion. During the same quarter in the prior year, the firm posted $1.36 earnings per share. The business’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.12 dividend on an annualized basis and a yield of 1.2%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s payout ratio is currently 24.97%.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.