Burney Co. Sells 8,797 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Burney Co. lessened its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 32.4% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 18,396 shares of the basic materials company’s stock after selling 8,797 shares during the quarter. Burney Co.’s holdings in Steel Dynamics were worth $2,727,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Franklin Resources Inc. grew its position in shares of Steel Dynamics by 12.0% during the 4th quarter. Franklin Resources Inc. now owns 344,569 shares of the basic materials company’s stock worth $40,694,000 after buying an additional 37,033 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Steel Dynamics by 2.5% during the 1st quarter. Nordea Investment Management AB now owns 1,034,133 shares of the basic materials company’s stock worth $153,290,000 after buying an additional 25,280 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Steel Dynamics by 1.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 17,321 shares of the basic materials company’s stock worth $2,046,000 after buying an additional 278 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Steel Dynamics by 15.3% during the 4th quarter. Schroder Investment Management Group now owns 743,697 shares of the basic materials company’s stock worth $87,831,000 after buying an additional 98,764 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of Steel Dynamics by 1,498.4% during the 1st quarter. SG Americas Securities LLC now owns 29,730 shares of the basic materials company’s stock worth $4,407,000 after buying an additional 27,870 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Analyst Ratings Changes

STLD has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $118.00 to $120.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 16th. BMO Capital Markets dropped their price objective on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 18th. Jefferies Financial Group started coverage on Steel Dynamics in a research report on Monday, May 20th. They set a “hold” rating and a $150.00 price objective on the stock. Finally, Bank of America dropped their price objective on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Steel Dynamics has a consensus rating of “Hold” and an average price target of $133.86.

Insider Transactions at Steel Dynamics

In other news, Director Gabriel Shaheen 1,825 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Christopher A. Graham sold 21,000 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now directly owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Gabriel Shaheen 1,825 shares of the business’s stock in a transaction on Tuesday, July 30th. The disclosure for this trade can be found here. Company insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Down 4.0 %

Steel Dynamics stock traded down $5.07 during midday trading on Friday, reaching $121.28. The company’s stock had a trading volume of 1,342,346 shares, compared to its average volume of 1,332,854. The stock’s 50-day simple moving average is $127.49 and its 200-day simple moving average is $130.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.35 and a quick ratio of 1.19. Steel Dynamics, Inc. has a 52-week low of $95.53 and a 52-week high of $151.34. The stock has a market capitalization of $19.06 billion, a P/E ratio of 8.33 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same period last year, the business posted $4.81 earnings per share. The firm’s revenue was down 8.8% compared to the same quarter last year. On average, sell-side analysts expect that Steel Dynamics, Inc. will post 11.35 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Sunday, June 30th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Friday, June 28th. Steel Dynamics’s payout ratio is 12.64%.

Steel Dynamics Company Profile

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.