Steel Dynamics, Inc. $STLD Stock Position Raised by Quantinno Capital Management LP

Quantinno Capital Management LP raised its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 19.1% during the first quarter, HoldingsChannel.com reports. The firm owned 81,255 shares of the basic materials company’s stock after buying an additional 13,042 shares during the quarter. Quantinno Capital Management LP’s holdings in Steel Dynamics were worth $14,626,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. SummitTX Capital L.P. raised its position in Steel Dynamics by 124.7% during the first quarter. SummitTX Capital L.P. now owns 38,768 shares of the basic materials company’s stock valued at $6,978,000 after acquiring an additional 21,516 shares in the last quarter. OMERS ADMINISTRATION Corp grew its position in Steel Dynamics by 33.4% in the first quarter. OMERS ADMINISTRATION Corp now owns 8,491 shares of the basic materials company’s stock worth $1,528,000 after acquiring an additional 2,125 shares in the last quarter. Lombard Odier Asset Management Switzerland SA grew its position in Steel Dynamics by 29.8% in the first quarter. Lombard Odier Asset Management Switzerland SA now owns 36,643 shares of the basic materials company’s stock worth $6,596,000 after acquiring an additional 8,410 shares in the last quarter. Lombard Odier Asset Management USA Corp acquired a new position in Steel Dynamics during the first quarter worth $301,000. Finally, Waverly Advisors LLC raised its holdings in Steel Dynamics by 36.4% during the first quarter. Waverly Advisors LLC now owns 2,935 shares of the basic materials company’s stock valued at $528,000 after buying an additional 783 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on STLD. Bank of America decreased their price target on Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. The Goldman Sachs Group began coverage on Steel Dynamics in a research note on Wednesday. They issued a “buy” rating and a $300.00 price objective on the stock. Morgan Stanley reduced their target price on Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. Citigroup upped their target price on Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. increased their price target on Steel Dynamics from $256.00 to $260.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $249.00.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $251.26 on Monday. The company has a market cap of $36.01 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 0.47 and a beta of 1.52. The business has a 50 day moving average price of $248.64 and a 200 day moving average price of $214.32. The company has a quick ratio of 1.45, a current ratio of 3.18 and a debt-to-equity ratio of 0.45. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $288.74.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, topping analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The company had revenue of $6.09 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same period in the previous year, the company earned $2.01 earnings per share. The company’s quarterly revenue was up 33.4% compared to the same quarter last year. Research analysts predict that Steel Dynamics, Inc. will post 17.16 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is presently 19.22%.

Insiders Place Their Bets

In other news, SVP James Stanley Anderson sold 10,000 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the transaction, the senior vice president owned 102,837 shares in the company, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the transaction, the senior vice president directly owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This represents a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 6.60% of the stock is 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.