Vista Investment Partners LLC Purchases 189 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Vista Investment Partners LLC lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,778 shares of the basic materials company’s stock after purchasing an additional 189 shares during the quarter. Steel Dynamics makes up about 2.3% of Vista Investment Partners LLC’s investment portfolio, making the stock its 8th largest position. Vista Investment Partners LLC’s holdings in Steel Dynamics were worth $6,835,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Steel Dynamics by 4.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock worth $534,295,000 after purchasing an additional 152,254 shares in the last quarter. Norges Bank acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at $221,817,000. Charles Schwab Investment Management Inc. raised its position in shares of Steel Dynamics by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,354,525 shares of the basic materials company’s stock worth $159,969,000 after acquiring an additional 21,143 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Steel Dynamics by 21.6% during the first quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock valued at $168,550,000 after acquiring an additional 202,312 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Steel Dynamics by 2.5% in the first quarter. Nordea Investment Management AB now owns 1,034,133 shares of the basic materials company’s stock valued at $153,290,000 after acquiring an additional 25,280 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Trading Down 1.1 %

Steel Dynamics stock traded down $1.35 during midday trading on Friday, hitting $116.70. 1,115,599 shares of the stock were exchanged, compared to its average volume of 1,247,463. The company has a fifty day simple moving average of $125.05 and a two-hundred day simple moving average of $130.74. 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 $18.01 billion, a PE ratio of 8.02 and a beta of 1.35. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.05. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter last year, the firm earned $4.81 EPS. Steel Dynamics’s quarterly revenue was down 8.8% compared to the same quarter last year. Equities research analysts anticipate that Steel Dynamics, Inc. will post 11.05 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.58%. Steel Dynamics’s payout ratio is 12.64%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Bank of America dropped their price objective on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. BMO Capital Markets reduced their price objective on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 18th. Jefferies Financial Group began coverage on shares of Steel Dynamics in a report on Monday, May 20th. They set a “hold” rating and a $150.00 target price for the company. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley lifted their price objective on Steel Dynamics from $134.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics has an average rating of “Hold” and a consensus target price of $138.14.

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.