Columbus Macro LLC Sells 183 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Columbus Macro LLC lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 9.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,748 shares of the basic materials company’s stock after selling 183 shares during the period. Columbus Macro LLC’s holdings in Steel Dynamics were worth $259,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. bought a new position in shares of Steel Dynamics in the 3rd quarter valued at about $297,000. Envestnet Asset Management Inc. grew its holdings in Steel Dynamics by 5.6% during the third quarter. Envestnet Asset Management Inc. now owns 174,012 shares of the basic materials company’s stock worth $18,658,000 after purchasing an additional 9,294 shares during the period. Mariner LLC increased its position in Steel Dynamics by 3.1% during the third quarter. Mariner LLC now owns 21,503 shares of the basic materials company’s stock worth $2,306,000 after buying an additional 654 shares during the last quarter. Federated Hermes Inc. raised its stake in Steel Dynamics by 36.8% in the third quarter. Federated Hermes Inc. now owns 112,689 shares of the basic materials company’s stock valued at $12,083,000 after buying an additional 30,322 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Steel Dynamics in the third quarter valued at approximately $202,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Down 2.2 %

Shares of NASDAQ STLD traded down $2.75 during trading on Tuesday, hitting $123.59. 1,502,999 shares of the company traded hands, compared to its average volume of 1,222,105. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.55 and a current ratio of 2.87. The business’s fifty day moving average is $131.25 and its 200 day moving average is $128.51. The firm has a market capitalization of $19.42 billion, a price-to-earnings ratio of 8.68 and a beta of 1.40. Steel Dynamics, Inc. has a fifty-two week low of $95.53 and a fifty-two week high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.54 by $0.13. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.01 earnings per share. Equities research analysts predict that Steel Dynamics, Inc. will post 11.74 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Friday, June 28th. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Insider Transactions at Steel Dynamics

In related news, SVP Christopher A. Graham sold 21,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the completion of the sale, the senior vice president now directly owns 60,415 shares of the company’s stock, valued at approximately $8,265,376.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on STLD. Citigroup increased their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Jefferies Financial Group started coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They set a “hold” rating and a $150.00 target price for the company. BMO Capital Markets decreased their price target on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 18th. Finally, JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $127.43.

About Steel Dynamics

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.