Van Hulzen Asset Management LLC Decreases Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Van Hulzen Asset Management LLC reduced its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,375 shares of the basic materials company’s stock after selling 455 shares during the period. Van Hulzen Asset Management LLC’s holdings in Steel Dynamics were worth $3,157,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Atomi Financial Group Inc. increased its position in Steel Dynamics by 3.1% during the 1st quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock worth $395,000 after purchasing an additional 79 shares in the last quarter. Csenge Advisory Group increased its position in Steel Dynamics by 2.8% during the 2nd quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock worth $381,000 after purchasing an additional 81 shares in the last quarter. Greenfield Savings Bank increased its position in Steel Dynamics by 0.7% during the 1st quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock worth $1,731,000 after purchasing an additional 85 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Steel Dynamics by 9.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock worth $126,000 after purchasing an additional 88 shares in the last quarter. Finally, Global Retirement Partners LLC increased its position in Steel Dynamics by 19.2% during the 1st quarter. Global Retirement Partners LLC now owns 570 shares of the basic materials company’s stock worth $84,000 after purchasing an additional 92 shares in the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on STLD shares. Bank of America decreased 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. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. upgraded Steel Dynamics from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $120.00 to $131.00 in a research note on Monday. Morgan Stanley raised their price objective on Steel Dynamics from $134.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. Finally, 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. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $143.43.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $110.74 on Tuesday. Steel Dynamics, Inc. has a 1-year low of $95.53 and a 1-year 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 business’s fifty day moving average price is $122.53 and its two-hundred day moving average price is $130.13. The firm has a market capitalization of $17.09 billion, a PE ratio of 7.61 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The company’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period last year, the company earned $4.81 earnings per share. On average, research analysts expect that Steel Dynamics, Inc. will post 10.74 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Monday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is 12.64%.

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.