Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Fractal Investments LLC

Fractal Investments LLC lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 74.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,437 shares of the basic materials company’s stock after selling 16,235 shares during the quarter. Fractal Investments LLC’s holdings in Steel Dynamics were worth $642,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Ameriprise Financial Inc. raised its holdings in shares of Steel Dynamics by 165.4% in the third quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock worth $212,447,000 after buying an additional 1,255,751 shares during the last quarter. Assetmark Inc. lifted its position in Steel Dynamics by 105.7% during the 3rd quarter. Assetmark Inc. now owns 789,836 shares of the basic materials company’s stock worth $84,686,000 after acquiring an additional 405,836 shares during the period. Sapient Capital LLC acquired a new stake in Steel Dynamics during the 4th quarter worth about $38,644,000. Nordea Investment Management AB grew its stake in Steel Dynamics by 29.0% during the 3rd quarter. Nordea Investment Management AB now owns 997,827 shares of the basic materials company’s stock valued at $106,139,000 after purchasing an additional 224,226 shares during the last quarter. Finally, ING Groep NV increased its holdings in shares of Steel Dynamics by 832.8% in the third quarter. ING Groep NV now owns 213,975 shares of the basic materials company’s stock valued at $22,942,000 after purchasing an additional 191,036 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Price Performance

Shares of STLD stock traded down $4.24 during mid-day trading on Wednesday, hitting $129.92. 2,557,025 shares of the stock were exchanged, compared to its average volume of 1,199,661. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30. Steel Dynamics, Inc. has a 52-week low of $90.55 and a 52-week high of $151.34. The firm has a fifty day moving average of $136.80 and a 200 day moving average of $121.97. The company has a market cap of $20.52 billion, a PE ratio of 8.90 and a beta of 1.42.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the business earned $4.01 earnings per share. The business’s revenue was down 4.1% compared to the same quarter last year. Research analysts anticipate that Steel Dynamics, Inc. will post 11.79 earnings per share for the current year.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.42%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.61%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. UBS Group dropped their target price on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. BMO Capital Markets upped their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Monday, March 18th. Finally, Citigroup increased their price target on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Steel Dynamics has an average rating of “Hold” and an average target price of $121.17.

Steel Dynamics 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.