Steel Dynamics, Inc. (NASDAQ:STLD) Shares Purchased by Acadian Asset Management LLC

Acadian Asset Management LLC increased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 21.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 1,137,230 shares of the basic materials company’s stock after purchasing an additional 202,312 shares during the quarter. Acadian Asset Management LLC’s holdings in Steel Dynamics were worth $168,550,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC purchased a new position in Steel Dynamics in the 1st quarter valued at about $25,000. LifeSteps Financial Inc. purchased a new stake in Steel Dynamics during the 1st quarter worth approximately $26,000. CVA Family Office LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Steel Dynamics during the 4th quarter valued at approximately $29,000. Finally, Lindbrook Capital LLC increased its stake in shares of Steel Dynamics by 117.5% in the fourth quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock worth $29,000 after buying an additional 134 shares during the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Christopher A. Graham sold 21,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the sale, the senior vice president now directly owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on STLD. BMO Capital Markets dropped their target price on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research report on Tuesday, June 18th. JPMorgan Chase & Co. increased their target price on Steel Dynamics from $118.00 to $120.00 and gave the stock an “underweight” rating in a report on Tuesday, July 16th. 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 assumed coverage on Steel Dynamics in a research note on Monday, May 20th. They set a “hold” rating and a $150.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Steel Dynamics presently has a consensus rating of “Hold” and a consensus target price of $133.86.

Steel Dynamics Price Performance

Steel Dynamics stock traded down $0.69 during trading hours on Friday, hitting $128.44. 1,226,004 shares of the company traded hands, compared to its average volume of 1,507,770. The firm’s 50-day simple moving average is $128.83 and its two-hundred day simple moving average is $129.64. The firm has a market cap of $20.18 billion, a P/E ratio of 8.82 and a beta of 1.35. Steel Dynamics, Inc. has a 1-year low of $95.53 and a 1-year high of $151.34. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.25.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating 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 posted $4.81 EPS. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. As a group, analysts forecast that Steel Dynamics, Inc. will post 11.44 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Investors of record on Sunday, June 30th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.43%. The ex-dividend date was Friday, June 28th. Steel Dynamics’s dividend payout ratio is presently 12.64%.

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.