Dimensional Fund Advisors LP Sells 260,849 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Dimensional Fund Advisors LP decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 6.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,646,108 shares of the basic materials company’s stock after selling 260,849 shares during the quarter. Dimensional Fund Advisors LP owned about 2.32% of Steel Dynamics worth $472,085,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Larson Financial Group LLC bought a new stake in shares of Steel Dynamics in the 1st quarter worth approximately $25,000. LifeSteps Financial Inc. bought a new stake in shares of Steel Dynamics in the 1st quarter worth approximately $26,000. Security National Bank bought a new stake in shares of Steel Dynamics in the 4th quarter worth approximately $30,000. Innealta Capital LLC bought a new stake in shares of Steel Dynamics in the 2nd quarter worth approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Steel Dynamics in the 2nd quarter worth approximately $41,000. Institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Jefferies Financial Group assumed coverage on Steel Dynamics in a research report on Monday, May 20th. They set a “hold” rating and a $150.00 target price for the company. Morgan Stanley raised their target price on Steel Dynamics from $134.00 to $138.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 15th. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. upgraded Steel Dynamics from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $120.00 to $131.00 in a research report on Monday, September 9th. Finally, Bank of America cut 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. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $143.43.

Steel Dynamics Trading Down 1.6 %

Shares of STLD opened at $111.01 on Tuesday. The stock has a fifty day moving average price of $120.93 and a two-hundred day moving average price of $129.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. Steel Dynamics, Inc. has a 52-week low of $95.53 and a 52-week high of $151.34. The company has a market cap of $17.44 billion, a price-to-earnings ratio of 7.62 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.05. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The firm 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 company posted $4.81 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. Analysts predict that Steel Dynamics, Inc. will post 10.81 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.66%. Steel Dynamics’s 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.