First Trust Advisors LP Has $46.89 Million Stake in Steel Dynamics, Inc. $STLD

First Trust Advisors LP lowered its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 63.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 366,302 shares of the basic materials company’s stock after selling 627,090 shares during the quarter. First Trust Advisors LP’s holdings in Steel Dynamics were worth $46,890,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Blair William & Co. IL bought a new stake in shares of Steel Dynamics in the 1st quarter worth approximately $214,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Steel Dynamics by 12.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 258,507 shares of the basic materials company’s stock valued at $32,334,000 after purchasing an additional 28,240 shares in the last quarter. Townsquare Capital LLC lifted its position in Steel Dynamics by 340.6% in the first quarter. Townsquare Capital LLC now owns 9,384 shares of the basic materials company’s stock worth $1,174,000 after purchasing an additional 7,254 shares during the period. Zions Bancorporation National Association UT acquired a new stake in Steel Dynamics during the first quarter worth $32,000. Finally, Cynosure Group LLC increased its holdings in Steel Dynamics by 10.5% in the 1st quarter. Cynosure Group LLC now owns 2,685 shares of the basic materials company’s stock valued at $336,000 after buying an additional 256 shares during the period. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Price Performance

STLD opened at $166.14 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.47. The stock has a market capitalization of $24.26 billion, a P/E ratio of 22.01, a price-to-earnings-growth ratio of 1.19 and a beta of 1.46. The company’s 50 day simple moving average is $154.24 and its 200-day simple moving average is $139.08. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $172.94.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.11. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.05 earnings per share. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Steel Dynamics’s dividend payout ratio is 26.49%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the sale, the senior vice president owned 117,068 shares of the company’s stock, valued at approximately $19,057,499.72. This represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

STLD has been the subject of a number of analyst reports. UBS Group set a $165.00 price objective on shares of Steel Dynamics in a report on Tuesday, November 4th. The Goldman Sachs Group set a $172.00 price target on shares of Steel Dynamics and gave the stock a “neutral” rating in a research note on Friday, October 31st. Wells Fargo & Company lifted their price objective on Steel Dynamics from $169.00 to $172.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 1st. Finally, Jefferies Financial Group raised their target price on Steel Dynamics from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.78.

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.