Steel Dynamics, Inc. $STLD Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 88.2% in the 4th quarter, Holdings Channel reports. The firm owned 9,367 shares of the basic materials company’s stock after selling 69,717 shares during the period. Intech Investment Management LLC’s holdings in Steel Dynamics were worth $1,587,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its holdings in Steel Dynamics by 1,636.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 180 shares during the last quarter. Sound Income Strategies LLC increased its holdings in Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 150 shares during the last quarter. Torren Management LLC acquired a new stake in Steel Dynamics in the 4th quarter valued at approximately $34,000. Nvest Wealth Strategies Inc. acquired a new stake in Steel Dynamics in the 4th quarter valued at approximately $42,000. Finally, Eagle Bay Advisors LLC acquired a new stake in Steel Dynamics in the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on STLD shares. Citigroup lifted their target price on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Wall Street Zen upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. JPMorgan Chase & Co. lifted their target price on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. KeyCorp lifted their target price on shares of Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a report on Wednesday, April 22nd. Finally, BMO Capital Markets boosted their price target on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Steel Dynamics has a consensus rating of “Moderate Buy” and an average target price of $224.64.

Insiders Place Their Bets

In other news, SVP Miguel Alvarez sold 4,825 shares of Steel Dynamics stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the completion of the sale, the senior vice president directly owned 122,257 shares of the company’s stock, valued at approximately $27,578,734.06. The trade was a 3.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of Steel Dynamics stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the sale, the senior vice president directly owned 28,618 shares of the company’s stock, valued at approximately $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,125 shares of company stock worth $2,751,227 over the last 90 days. Corporate insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $276.85 on Friday. The company has a fifty day simple moving average of $219.09 and a two-hundred day simple moving average of $192.02. The company has a market cap of $40.07 billion, a price-to-earnings ratio of 29.61, a price-to-earnings-growth ratio of 0.59 and a beta of 1.50. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $280.49.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). The business had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The business’s revenue was up 19.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.44 EPS. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be paid a $0.53 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. Steel Dynamics’s payout ratio is 22.67%.

Steel Dynamics 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.