Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 362,943 shares of the basic materials company’s stock after selling 8,376 shares during the quarter. AQR Capital Management LLC owned about 0.23% of Steel Dynamics worth $46,718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC acquired a new position in shares of Steel Dynamics during the 1st quarter worth approximately $25,000. LifeSteps Financial Inc. purchased a new stake in Steel Dynamics in the 1st quarter valued at $26,000. Security National Bank acquired a new stake in shares of Steel Dynamics in the 4th quarter worth $30,000. Innealta Capital LLC purchased a new position in shares of Steel Dynamics during the 2nd quarter worth $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Steel Dynamics during the 2nd quarter valued at about $41,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on STLD. 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 research report on Tuesday, September 3rd. Bank of America reduced their target price 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. 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. Morgan Stanley reduced their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. raised shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $120.00 to $131.00 in a research note on Monday, September 9th. Six 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.com, the stock has a consensus rating of “Hold” and a consensus price target of $141.29.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $125.98 on Friday. The stock has a market capitalization of $19.44 billion, a price-to-earnings ratio of 8.65 and a beta of 1.32. 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 business has a 50-day moving average of $119.47 and a 200 day moving average of $128.77. Steel Dynamics, Inc. has a 12 month low of $98.25 and a 12 month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $4.43 billion. During the same quarter last year, the firm posted $4.81 earnings per share. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 10.32 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Monday, September 30th. Steel Dynamics’s dividend payout ratio is currently 12.64%.

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.