Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Inspire Investing LLC

Inspire Investing LLC reduced its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 34.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,076 shares of the basic materials company’s stock after selling 8,417 shares during the quarter. Inspire Investing LLC’s holdings in Steel Dynamics were worth $2,082,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Larson Financial Group LLC acquired a new position in shares of Steel Dynamics during the 1st quarter worth about $25,000. LifeSteps Financial Inc. acquired a new position in shares of Steel Dynamics during the 1st quarter worth about $26,000. Security National Bank acquired a new position in shares of Steel Dynamics during the 4th quarter worth about $30,000. Innealta Capital LLC acquired a new stake in shares of Steel Dynamics in the 2nd quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Steel Dynamics in the 2nd quarter valued at about $41,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STLD has been the subject of a number of research analyst reports. Bank of America decreased their target price on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. BMO Capital Markets decreased their target price on Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a research report on Tuesday. Morgan Stanley reduced their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. raised Steel Dynamics from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $120.00 to $131.00 in a research note on Monday, September 9th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $141.29.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $115.12 on Thursday. The company has a market cap of $17.76 billion, a price-to-earnings ratio of 7.91 and a beta of 1.32. The stock has a 50 day simple moving average of $120.74 and a 200-day simple moving average of $129.24. Steel Dynamics, Inc. has a 12-month low of $98.03 and a 12-month high of $151.34. 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 issued its 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. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the prior year, the business posted $4.81 EPS. On average, equities analysts forecast that Steel Dynamics, Inc. will post 10.57 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend is Monday, September 30th. 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.