Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Kapitalo Investimentos Ltda

Kapitalo Investimentos Ltda cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 36.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,044 shares of the basic materials company’s stock after selling 1,725 shares during the period. Kapitalo Investimentos Ltda’s holdings in Steel Dynamics were worth $384,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Swedbank AB grew its holdings in shares of Steel Dynamics by 0.4% during the 3rd quarter. Swedbank AB now owns 209,614 shares of the basic materials company’s stock worth $26,428,000 after purchasing an additional 798 shares during the period. Creative Planning lifted its position in Steel Dynamics by 0.7% in the third quarter. Creative Planning now owns 27,324 shares of the basic materials company’s stock valued at $3,445,000 after buying an additional 186 shares during the last quarter. Wedge Capital Management L L P NC lifted its position in Steel Dynamics by 4.7% in the third quarter. Wedge Capital Management L L P NC now owns 61,305 shares of the basic materials company’s stock valued at $7,729,000 after buying an additional 2,730 shares during the last quarter. Stablepoint Partners LLC increased its position in shares of Steel Dynamics by 3.1% during the third quarter. Stablepoint Partners LLC now owns 9,644 shares of the basic materials company’s stock valued at $1,216,000 after acquiring an additional 288 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Steel Dynamics by 274.1% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,171 shares of the basic materials company’s stock valued at $148,000 after acquiring an additional 858 shares during the period. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on STLD. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. lowered their target price on Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Morgan Stanley cut their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. Finally, BMO Capital Markets raised their price objective on shares of Steel Dynamics from $127.00 to $130.00 and gave the company a “market perform” rating in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $142.86.

Steel Dynamics Stock Performance

Shares of STLD opened at $128.46 on Wednesday. Steel Dynamics, Inc. has a 1 year low of $98.25 and a 1 year high of $151.34. The stock has a market capitalization of $20.19 billion, a PE ratio of 8.82 and a beta of 1.31. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The stock has a 50-day simple moving average of $119.93 and a 200-day simple moving average of $127.53.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the previous year, the firm earned $4.81 earnings per share. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. On average, analysts predict that Steel Dynamics, Inc. will post 10.15 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.43%. Steel Dynamics’s payout ratio is currently 12.64%.

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.