Atlas Capital Advisors LLC Reduces Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Atlas Capital Advisors LLC lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 13.9% during the 2nd quarter, Holdings Channel reports. The fund owned 3,232 shares of the basic materials company’s stock after selling 522 shares during the quarter. Atlas Capital Advisors LLC’s holdings in Steel Dynamics were worth $419,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its position in Steel Dynamics by 68.7% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 71,541 shares of the basic materials company’s stock valued at $9,265,000 after purchasing an additional 29,125 shares during the period. Peregrine Capital Management LLC grew its holdings in shares of Steel Dynamics by 1.3% in the second quarter. Peregrine Capital Management LLC now owns 68,048 shares of the basic materials company’s stock valued at $8,812,000 after purchasing an additional 904 shares in the last quarter. Innealta Capital LLC acquired a new stake in Steel Dynamics during the 2nd quarter worth approximately $33,000. Center For Asset Management LLC grew its stake in shares of Steel Dynamics by 4.3% in the second quarter. Center For Asset Management LLC now owns 3,065 shares of the basic materials company’s stock worth $397,000 after acquiring an additional 127 shares in the last quarter. Finally, Hosking Partners LLP increased its position in shares of Steel Dynamics by 39.7% during the second quarter. Hosking Partners LLP now owns 215,365 shares of the basic materials company’s stock worth $27,890,000 after acquiring an additional 61,255 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $119.51 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. Steel Dynamics, Inc. has a fifty-two week low of $95.53 and a fifty-two week high of $151.34. The stock has a fifty day moving average of $124.11 and a two-hundred day moving average of $130.39. The company has a market capitalization of $18.44 billion, a price-to-earnings ratio of 8.21 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.67 by $0.05. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the previous year, the company earned $4.81 EPS. Steel Dynamics’s revenue for the quarter was down 8.8% on a year-over-year basis. On average, analysts anticipate that Steel Dynamics, Inc. will post 10.74 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed 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 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 (DPR) is 12.64%.

Analyst Upgrades and Downgrades

STLD has been the topic of a number of recent research reports. BMO Capital Markets cut their target price on shares of 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. JPMorgan Chase & Co. increased their target price on Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a report on Tuesday, July 16th. Morgan Stanley raised their target price on Steel Dynamics from $134.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Bank of America lowered their price target on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Finally, Jefferies Financial Group began coverage on shares of Steel Dynamics in a research report on Monday, May 20th. They issued a “hold” rating and a $150.00 target price on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $138.14.

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.