Great Lakes Advisors LLC Has $4.37 Million Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Great Lakes Advisors LLC raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 5.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,031 shares of the basic materials company’s stock after purchasing an additional 2,076 shares during the period. Great Lakes Advisors LLC’s holdings in Steel Dynamics were worth $4,373,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. CVA Family Office LLC acquired a new position in shares of Steel Dynamics during the 4th quarter worth about $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $29,000. Lindbrook Capital LLC increased its position in shares of Steel Dynamics by 117.5% in the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after buying an additional 134 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in Steel Dynamics during the fourth quarter worth about $44,000. Finally, Denali Advisors LLC grew its stake in Steel Dynamics by 99.0% in the fourth quarter. Denali Advisors LLC now owns 406 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 202 shares during the period. Institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on STLD shares. BMO Capital Markets lifted their price objective on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Monday, March 18th. JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. Citigroup upped their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Finally, UBS Group cut their price target on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $121.17.

Read Our Latest Research Report on STLD

Insider Transactions at Steel Dynamics

In other news, SVP Christopher A. Graham sold 21,000 shares of the company’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 completion of the sale, the senior vice president now directly owns 60,415 shares in the company, valued at approximately $8,265,376.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 6.10% of the company’s stock.

Steel Dynamics Price Performance

NASDAQ:STLD opened at $133.93 on Monday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.55 and a current ratio of 2.87. The stock’s 50-day simple moving average is $138.72 and its 200 day simple moving average is $125.63. Steel Dynamics, Inc. has a 52-week low of $90.55 and a 52-week high of $151.34. The company has a market cap of $21.04 billion, a P/E ratio of 9.20 and a beta of 1.47.

Steel Dynamics (NASDAQ:STLDGet Free Report) last issued its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the firm earned $4.01 EPS. Steel Dynamics’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 12.36 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be given a dividend of $0.46 per share. The ex-dividend date is Friday, June 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.37%. Steel Dynamics’s payout ratio is presently 12.64%.

Steel Dynamics Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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