FNY Investment Advisers LLC Sells 3,076 Shares of Steel Dynamics, Inc. $STLD

FNY Investment Advisers LLC decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 79.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 800 shares of the basic materials company’s stock after selling 3,076 shares during the quarter. FNY Investment Advisers LLC’s holdings in Steel Dynamics were worth $135,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. NewEdge Advisors LLC grew its holdings in Steel Dynamics by 307.5% in the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $102,000 after buying an additional 618 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of Steel Dynamics by 82.7% during the first quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after buying an additional 1,578 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Steel Dynamics by 14.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,694 shares of the basic materials company’s stock worth $217,000 after buying an additional 218 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Steel Dynamics by 14.5% in the second quarter. 1832 Asset Management L.P. now owns 18,735 shares of the basic materials company’s stock valued at $2,398,000 after acquiring an additional 2,379 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Steel Dynamics by 130.1% in the second quarter. EverSource Wealth Advisors LLC now owns 2,066 shares of the basic materials company’s stock valued at $264,000 after acquiring an additional 1,168 shares during the period. Institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

STLD has been the topic of a number of recent research reports. Morgan Stanley reaffirmed an “underperform” rating and set a $190.00 price target on shares of Steel Dynamics in a research report on Tuesday, March 17th. Wall Street Zen downgraded shares of Steel Dynamics from a “buy” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company decreased their target price on shares of Steel Dynamics from $210.00 to $196.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Steel Dynamics from $194.00 to $192.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Five research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $182.44.

Steel Dynamics Price Performance

Shares of STLD opened at $180.20 on Friday. The firm has a 50 day simple moving average of $184.81 and a two-hundred day simple moving average of $168.33. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $208.47. The company has a market cap of $26.08 billion, a P/E ratio of 22.50, a P/E/G ratio of 0.49 and a beta of 1.39.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.10. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.62 billion. During the same period last year, the firm posted $1.36 earnings per share. Steel Dynamics’s revenue was up 14.0% compared to the same quarter last year. Research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, March 31st. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s dividend payout ratio is 26.47%.

Steel Dynamics 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.