Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,509 shares of the basic materials company’s stock after selling 815 shares during the quarter. Dana Investment Advisors Inc.’s holdings in Steel Dynamics were worth $4,080,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Atomi Financial Group Inc. lifted 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 acquiring an additional 79 shares during the last quarter. Csenge Advisory Group lifted its stake in Steel Dynamics by 2.8% during the second quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock valued at $381,000 after purchasing an additional 81 shares during the last quarter. Greenfield Savings Bank boosted its holdings in Steel Dynamics by 0.7% during the first quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock worth $1,731,000 after buying an additional 85 shares in the last quarter. Dorsey Wright & Associates boosted its holdings in Steel Dynamics by 0.4% during the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock worth $3,050,000 after buying an additional 96 shares in the last quarter. Finally, Stiles Financial Services Inc grew its position in Steel Dynamics by 0.5% in the second quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock worth $2,429,000 after buying an additional 99 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Up 2.5 %

NASDAQ:STLD opened at $129.23 on Wednesday. The stock’s 50-day moving average is $119.49 and its two-hundred day moving average is $128.63. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.35 and a quick ratio of 1.19. The stock has a market cap of $19.94 billion, a PE ratio of 8.88 and a beta of 1.32. Steel Dynamics, Inc. has a fifty-two week low of $98.25 and a fifty-two week high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (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 firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter last year, the firm earned $4.81 earnings per share. The business’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, equities research analysts forecast that Steel Dynamics, Inc. will post 10.32 earnings per share 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 issued a $0.46 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.42%. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. upgraded Steel Dynamics from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $120.00 to $131.00 in a research report on Monday, September 9th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the company from $140.00 to $155.00 in a research report on Tuesday. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. BMO Capital Markets reduced their price objective on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a research note on Tuesday, September 17th. Finally, Morgan Stanley dropped their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Five 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, the stock has a consensus rating of “Hold” and a consensus price target of $142.71.

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.