Sei Investments Co. Buys 21,204 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Sei Investments Co. lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 19.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 129,316 shares of the basic materials company’s stock after purchasing an additional 21,204 shares during the quarter. Sei Investments Co. owned 0.08% of Steel Dynamics worth $16,750,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Atomi Financial Group Inc. increased its holdings in Steel Dynamics by 3.1% in the 1st quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock valued at $395,000 after buying an additional 79 shares during the period. Csenge Advisory Group boosted its position in shares of Steel Dynamics by 2.8% during the 2nd quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock worth $381,000 after acquiring an additional 81 shares in the last quarter. Greenfield Savings Bank increased its stake in Steel Dynamics by 0.7% in the first quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock valued at $1,731,000 after acquiring an additional 85 shares during the last quarter. Stiles Financial Services Inc lifted its stake in Steel Dynamics by 0.5% during the second quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock worth $2,429,000 after purchasing an additional 99 shares during the last quarter. Finally, Resonant Capital Advisors LLC lifted its stake in Steel Dynamics by 3.4% during the second quarter. Resonant Capital Advisors LLC now owns 3,046 shares of the basic materials company’s stock worth $396,000 after purchasing an additional 99 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

STLD stock opened at $125.24 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. Steel Dynamics, Inc. has a 52-week low of $98.25 and a 52-week high of $151.34. The company has a market capitalization of $19.68 billion, a P/E ratio of 8.60 and a beta of 1.32. The company has a fifty day moving average price of $119.52 and a 200-day moving average price of $128.82.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.67 by $0.05. The firm had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.81 EPS. As a group, equities analysts expect that Steel Dynamics, Inc. will post 10.32 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a $0.46 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.47%. Steel Dynamics’s dividend payout ratio (DPR) is currently 12.64%.

Wall Street Analyst Weigh In

STLD has been the subject of a number of research analyst reports. BMO Capital Markets lowered their price target on Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a report on Tuesday, September 17th. Bank of America lowered their target price on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upgraded shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and raised their target price for the company from $120.00 to $131.00 in a research report on Monday, September 9th. Finally, Morgan Stanley lowered their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $141.29.

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.