Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 17.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,595 shares of the basic materials company’s stock after selling 10,710 shares during the period. Wedge Capital Management L L P NC’s holdings in Steel Dynamics were worth $5,771,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STLD. Envestnet Asset Management Inc. boosted its stake in shares of Steel Dynamics by 9.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 230,922 shares of the basic materials company’s stock worth $29,904,000 after purchasing an additional 19,853 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Steel Dynamics by 10.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 19,487 shares of the basic materials company’s stock worth $2,524,000 after acquiring an additional 1,792 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in Steel Dynamics in the 2nd quarter worth approximately $1,498,000. Mercer Global Advisors Inc. ADV raised its holdings in Steel Dynamics by 46.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 67,503 shares of the basic materials company’s stock valued at $8,976,000 after acquiring an additional 21,563 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of Steel Dynamics by 11.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 19,271 shares of the basic materials company’s stock worth $2,496,000 after purchasing an additional 1,902 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

STLD has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their price objective on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research report on Friday. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective for the company. Jefferies Financial Group cut their target price on Steel Dynamics from $145.00 to $125.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Citigroup dropped their price target on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Steel Dynamics has an average rating of “Hold” and an average price target of $140.88.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at $16,723,707. This represents a 5.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the sale, the vice president now directly owns 17,100 shares of the company’s stock, valued at $2,306,106. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,591 shares of company stock valued at $3,885,938 in the last ninety days. Insiders own 6.10% of the company’s stock.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $125.83 on Friday. The firm has a market capitalization of $19.16 billion, a PE ratio of 11.39 and a beta of 1.36. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The stock’s 50 day moving average price is $129.13 and its 200 day moving average price is $126.45. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.47 earnings per share. As a group, sell-side analysts expect that Steel Dynamics, Inc. will post 9.78 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were issued a $0.46 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 1.46%. Steel Dynamics’s dividend payout ratio is currently 16.65%.

Steel Dynamics 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.