Steel Dynamics, Inc. $STLD Stock Holdings Reduced by Geode Capital Management LLC

Geode Capital Management LLC lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,672,896 shares of the basic materials company’s stock after selling 15,124 shares during the period. Geode Capital Management LLC’s holdings in Steel Dynamics were worth $619,988,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Life Cycle Investment Partners Ltd bought a new stake in shares of Steel Dynamics during the 4th quarter worth about $586,702,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of Steel Dynamics by 3.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock worth $340,289,000 after acquiring an additional 72,122 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Steel Dynamics by 1.0% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,046,791 shares of the basic materials company’s stock worth $145,953,000 after acquiring an additional 10,537 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Steel Dynamics by 34.7% during the 2nd quarter. Bank of America Corp DE now owns 1,028,947 shares of the basic materials company’s stock worth $131,715,000 after acquiring an additional 264,827 shares in the last quarter. Finally, Boston Partners bought a new stake in shares of Steel Dynamics during the 3rd quarter worth about $101,254,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

NASDAQ STLD opened at $260.15 on Friday. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $263.09. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The stock has a market capitalization of $37.65 billion, a PE ratio of 27.82, a P/E/G ratio of 0.55 and a beta of 1.48. The stock has a 50-day simple moving average of $210.75 and a 200 day simple moving average of $188.49.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same period in the prior year, the firm posted $1.44 EPS. Steel Dynamics’s revenue for the quarter was up 19.1% on a year-over-year basis. Research analysts anticipate that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics’s payout ratio is currently 22.67%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wells Fargo & Company upped their price target on Steel Dynamics from $207.00 to $235.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. Wall Street Zen upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Weiss Ratings upgraded Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. upped their price target on Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 14th. Finally, KeyCorp upped their price target on Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $219.36.

Insider Buying and Selling

In related news, Director Kenneth W. Cornew sold 5,000 shares of the business’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the completion of the transaction, the director owned 31,299 shares of the company’s stock, valued at approximately $7,038,206.13. The trade was a 13.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Miguel Alvarez sold 4,825 shares of the business’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total value of $1,088,423.50. Following the transaction, the senior vice president directly owned 122,257 shares of the company’s stock, valued at $27,578,734.06. This represents a 3.80% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 12,125 shares of company stock valued at $2,751,227. Insiders own 6.60% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.