Kennedy Capital Management LLC Sells 18,583 Shares of Steel Dynamics, Inc. $STLD

Kennedy Capital Management LLC lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 17.6% during the 4th quarter, Holdings Channel reports. The firm owned 86,847 shares of the basic materials company’s stock after selling 18,583 shares during the quarter. Kennedy Capital Management LLC’s holdings in Steel Dynamics were worth $14,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Jacobi Capital Management LLC grew its position in Steel Dynamics by 1.6% during the 4th quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock worth $599,000 after purchasing an additional 55 shares during the last quarter. Optas LLC grew its position in Steel Dynamics by 3.0% during the 4th quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock worth $335,000 after purchasing an additional 58 shares during the last quarter. Hohimer Wealth Management LLC grew its position in Steel Dynamics by 1.1% during the 4th quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock worth $967,000 after purchasing an additional 61 shares during the last quarter. Wright Investors Service Inc. grew its position in Steel Dynamics by 1.2% during the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock worth $941,000 after purchasing an additional 64 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Steel Dynamics by 4.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company’s stock worth $246,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $282.76 on Monday. The company’s fifty day moving average price is $230.74 and its 200 day moving average price is $196.94. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $285.88. The company has a market capitalization of $40.92 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 0.56 and a beta of 1.50. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period last year, the company posted $1.44 earnings per share. The business’s quarterly revenue was up 19.1% on a year-over-year basis. On average, research analysts predict that Steel Dynamics, Inc. will post 15.85 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.7%. Steel Dynamics’s dividend payout ratio is 22.67%.

Wall Street Analyst Weigh In

STLD has been the topic of several research analyst reports. Weiss Ratings raised shares of Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a research report on Wednesday, April 29th. KeyCorp boosted their target price on shares of Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Citigroup boosted their target price on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $224.64.

Insider Activity

In related news, Director Kenneth W. Cornew sold 5,000 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the sale, the director directly owned 31,299 shares of the company’s stock, valued at approximately $7,038,206.13. This represents a 13.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the sale, the senior vice president directly owned 122,257 shares in the company, valued at $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 22,125 shares of company stock valued at $5,438,227. 6.60% of the stock is currently owned by corporate insiders.

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.