Advisors Asset Management Inc. Has $3.04 Million Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Advisors Asset Management Inc. lowered its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 18.6% during the first quarter, Holdings Channel reports. The institutional investor owned 20,476 shares of the basic materials company’s stock after selling 4,669 shares during the quarter. Advisors Asset Management Inc.’s holdings in Steel Dynamics were worth $3,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Atomi Financial Group Inc. raised its holdings in shares of Steel Dynamics by 3.1% in the 1st quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock worth $395,000 after buying an additional 79 shares in the last quarter. Greenfield Savings Bank raised its stake in Steel Dynamics by 0.7% during the first quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock worth $1,731,000 after acquiring an additional 85 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Steel Dynamics by 9.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock valued at $126,000 after acquiring an additional 88 shares during the period. Global Retirement Partners LLC boosted its stake in shares of Steel Dynamics by 19.2% in the 1st quarter. Global Retirement Partners LLC now owns 570 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 92 shares in the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Steel Dynamics by 0.9% in the 4th quarter. Signaturefd LLC now owns 10,698 shares of the basic materials company’s stock worth $1,263,000 after purchasing an additional 93 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America reduced their price target on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Jefferies Financial Group started coverage on Steel Dynamics in a report on Monday, May 20th. They set a “hold” rating and a $150.00 price target for the company. BMO Capital Markets reduced their price objective on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. raised their target price on Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Steel Dynamics has an average rating of “Hold” and a consensus target price of $133.86.

Steel Dynamics Trading Up 2.3 %

Shares of NASDAQ STLD traded up $2.94 during midday trading on Friday, hitting $130.54. The stock had a trading volume of 1,064,732 shares, compared to its average volume of 1,321,850. The firm has a market cap of $20.51 billion, a P/E ratio of 8.97 and a beta of 1.35. 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 debt-to-equity ratio of 0.25, a current ratio of 2.35 and a quick ratio of 1.19. The company’s 50-day simple moving average is $128.03 and its 200 day simple moving average is $129.82.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period last year, the company earned $4.81 earnings per share. The company’s revenue was down 8.8% on a year-over-year basis. Research analysts anticipate that Steel Dynamics, Inc. will post 11.35 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Sunday, June 30th were issued a $0.46 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.84 annualized dividend and a yield of 1.41%. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Insiders Place Their Bets

In related news, SVP Christopher A. Graham sold 21,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the completion of the sale, the senior vice president now owns 60,415 shares in the company, valued at $8,265,376.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.00% of the company’s stock.

Steel Dynamics Company 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.