Brandywine Global Investment Management LLC Cuts Stock Position in Steel Dynamics, Inc. $STLD

Brandywine Global Investment Management LLC lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 27.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 120,300 shares of the basic materials company’s stock after selling 46,167 shares during the period. Brandywine Global Investment Management LLC’s holdings in Steel Dynamics were worth $20,385,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fisher Asset Management LLC grew its stake in shares of Steel Dynamics by 47.2% in the 3rd quarter. Fisher Asset Management LLC now owns 34,878 shares of the basic materials company’s stock worth $4,863,000 after buying an additional 11,183 shares during the last quarter. Strs Ohio grew its stake in shares of Steel Dynamics by 7.3% in the 4th quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock worth $26,075,000 after buying an additional 10,519 shares during the last quarter. Concentric Capital Strategies LP purchased a new stake in shares of Steel Dynamics in the 3rd quarter worth approximately $24,349,000. Robeco Institutional Asset Management B.V. lifted its position in Steel Dynamics by 3.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock valued at $340,289,000 after acquiring an additional 72,122 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ lifted its position in Steel Dynamics by 16.4% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 47,912 shares of the basic materials company’s stock valued at $6,680,000 after acquiring an additional 6,738 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

STLD has been the topic of a number of research reports. Wells Fargo & Company raised their price target on Steel Dynamics from $235.00 to $293.00 and gave the stock an “overweight” rating in a research note on Thursday. Bank of America cut Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 target price on the stock. in a report on Thursday, April 30th. Weiss Ratings raised Steel Dynamics from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. raised their target price on Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Finally, Barclays began coverage on Steel Dynamics in a report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Steel Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price of $224.64.

Steel Dynamics Trading Down 0.5%

Shares of STLD stock opened at $267.20 on Tuesday. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $280.49. 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 firm has a market capitalization of $38.67 billion, a PE ratio of 28.58, a PEG ratio of 0.57 and a beta of 1.50. The stock has a fifty day simple moving average of $222.85 and a two-hundred day simple moving average of $193.61.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $5.39 billion. During the same quarter in the previous year, the company posted $1.44 EPS. The company’s quarterly revenue was up 19.1% on a year-over-year basis. On average, analysts predict that Steel Dynamics, Inc. will post 14.77 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is presently 22.67%.

Insiders Place Their Bets

In other news, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the completion of the transaction, the senior vice president owned 122,257 shares in the company, valued at $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP James Stanley Anderson sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the transaction, the senior vice president owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. The trade was a 8.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 22,125 shares of company stock worth $5,438,227. 6.60% of the stock is currently owned by corporate insiders.

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.