Steel Dynamics, Inc. $STLD Shares Sold by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 68.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,052 shares of the basic materials company’s stock after selling 4,551 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Steel Dynamics were worth $286,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new stake in Steel Dynamics during the second quarter valued at about $339,769,000. Nordea Investment Management AB grew its holdings in shares of Steel Dynamics by 43.3% during the 2nd quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock worth $271,238,000 after purchasing an additional 630,935 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Steel Dynamics by 40.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock worth $214,541,000 after purchasing an additional 484,304 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in Steel Dynamics in the second quarter valued at approximately $48,746,000. Finally, AQR Capital Management LLC grew its stake in Steel Dynamics by 79.1% during the second quarter. AQR Capital Management LLC now owns 627,542 shares of the basic materials company’s stock worth $80,332,000 after buying an additional 277,166 shares during the period. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the completion of the sale, the senior vice president directly owned 117,068 shares in the company, valued at approximately $19,057,499.72. This trade represents a 6.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Steel Dynamics Price Performance

NASDAQ STLD opened at $181.32 on Friday. The company’s 50 day simple moving average is $169.72 and its 200 day simple moving average is $148.95. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.47. The firm has a market capitalization of $26.48 billion, a PE ratio of 24.02, a P/E/G ratio of 0.75 and a beta of 1.48. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $182.81.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were issued a $0.50 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.1%. Steel Dynamics’s dividend payout ratio is presently 26.49%.

Wall Street Analyst Weigh In

Several research analysts have commented on STLD shares. Jefferies Financial Group raised their price objective on Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. Citigroup raised their price target on shares of Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. BMO Capital Markets upped their target price on shares of Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Morgan Stanley restated an “equal weight” rating and set a $194.00 price objective (up previously from $173.00) on shares of Steel Dynamics in a research note on Friday, January 9th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $182.00.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.