Holocene Advisors LP Lowers Stock Holdings in Steel Dynamics, Inc. $STLD

Holocene Advisors LP lessened its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 8.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,305,675 shares of the basic materials company’s stock after selling 200,408 shares during the quarter. Steel Dynamics accounts for approximately 0.7% of Holocene Advisors LP’s portfolio, making the stock its 27th biggest position. Holocene Advisors LP’s holdings in Steel Dynamics were worth $321,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. NewEdge Advisors LLC lifted its holdings in Steel Dynamics by 307.5% during the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock worth $102,000 after buying an additional 618 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Steel Dynamics by 82.7% in the first quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock valued at $435,000 after purchasing an additional 1,578 shares during the period. PNC Financial Services Group Inc. grew its stake in Steel Dynamics by 3.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 24,411 shares of the basic materials company’s stock worth $3,125,000 after purchasing an additional 735 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its holdings in Steel Dynamics by 1.1% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 21,250 shares of the basic materials company’s stock worth $2,720,000 after purchasing an additional 241 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Steel Dynamics by 4.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 33,861 shares of the basic materials company’s stock worth $4,335,000 after purchasing an additional 1,482 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on STLD. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Wall Street Zen cut shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Wells Fargo & Company lifted their price target on shares of Steel Dynamics from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, March 2nd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $194.00 price target (up from $173.00) on shares of Steel Dynamics in a report on Friday, January 9th. Five analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $184.22.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $170.60 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $208.47. The company’s 50 day moving average price is $184.81 and its two-hundred day moving average price is $164.26. The company has a market capitalization of $24.72 billion, a P/E ratio of 21.30, a price-to-earnings-growth ratio of 0.45 and a beta of 1.43.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.10. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.62 billion. During the same quarter in the prior year, the firm earned $1.36 earnings per share. The firm’s revenue was up 14.0% compared to the same quarter last year. On average, analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be paid a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.12 annualized dividend and a dividend yield of 1.2%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s dividend payout ratio (DPR) is 24.97%.

About Steel Dynamics

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.