Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,281 shares of the basic materials company’s stock after selling 100 shares during the period. Johnson Investment Counsel Inc.’s holdings in Steel Dynamics were worth $554,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in STLD. Achmea Investment Management B.V. grew its holdings in Steel Dynamics by 6.8% during the 2nd quarter. Achmea Investment Management B.V. now owns 124,323 shares of the basic materials company’s stock worth $16,100,000 after acquiring an additional 7,947 shares in the last quarter. American Century Companies Inc. grew its holdings in Steel Dynamics by 9.4% during the 2nd quarter. American Century Companies Inc. now owns 225,239 shares of the basic materials company’s stock worth $29,168,000 after acquiring an additional 19,348 shares in the last quarter. HHM Wealth Advisors LLC acquired a new position in Steel Dynamics during the 2nd quarter worth $52,000. Daiwa Securities Group Inc. grew its holdings in Steel Dynamics by 0.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 38,420 shares of the basic materials company’s stock worth $4,975,000 after acquiring an additional 195 shares in the last quarter. Finally, Choreo LLC acquired a new position in Steel Dynamics during the 2nd quarter worth $344,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

STLD has been the subject of several recent analyst reports. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. BMO Capital Markets reduced 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 report on Tuesday, June 18th. JPMorgan Chase & Co. upgraded shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $120.00 to $131.00 in a research report on Monday, September 9th. Jefferies Financial Group began coverage on shares of Steel Dynamics in a research report on Monday, May 20th. They issued a “hold” rating and a $150.00 price target on the stock. Finally, Morgan Stanley raised their price target on shares of Steel Dynamics from $134.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $143.43.

Steel Dynamics Stock Up 2.1 %

STLD stock opened at $112.84 on Friday. Steel Dynamics, Inc. has a 52 week low of $95.53 and a 52 week high of $151.34. The company has a market capitalization of $17.41 billion, a price-to-earnings ratio of 7.75 and a beta of 1.32. The firm’s 50-day moving average is $121.20 and its two-hundred day moving average is $129.56. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 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 for the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the previous year, the firm earned $4.81 EPS. Steel Dynamics’s revenue was down 8.8% on a year-over-year basis. On average, analysts forecast that Steel Dynamics, Inc. will post 10.81 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.63%. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Steel Dynamics 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.