Grantham Mayo Van Otterloo & Co. LLC Cuts Stock Position in Steel Dynamics, Inc. $STLD

Grantham Mayo Van Otterloo & Co. LLC trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 37.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 148,279 shares of the basic materials company’s stock after selling 87,050 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Steel Dynamics were worth $18,981,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Cary Street Partners Investment Advisory LLC grew its position in Steel Dynamics by 493.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 163 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new position in Steel Dynamics in the 2nd quarter worth $30,000. Zions Bancorporation National Association UT bought a new stake in Steel Dynamics in the first quarter worth $32,000. WPG Advisers LLC purchased a new stake in Steel Dynamics during the first quarter valued at about $32,000. Finally, Rosenberg Matthew Hamilton grew its stake in shares of Steel Dynamics by 306.2% during the second quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock valued at $34,000 after buying an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group set a $172.00 target price on Steel Dynamics and gave the company a “neutral” rating in a report on Friday, October 31st. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a research note on Tuesday. BMO Capital Markets lifted their target price on shares of Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Finally, Jefferies Financial Group raised their price target on shares of Steel Dynamics from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.44.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $167.88 on Friday. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. The company has a market cap of $24.52 billion, a PE ratio of 22.24, a P/E/G ratio of 1.39 and a beta of 1.45. The business has a 50 day moving average of $150.65 and a 200 day moving average of $137.60. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $168.36.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.11. The business had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 earnings per share. As a group, equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be issued a $0.50 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.00 annualized dividend and a yield of 1.2%. Steel Dynamics’s dividend payout ratio (DPR) is 26.49%.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Miguel Alvarez sold 8,251 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the sale, the senior vice president directly owned 117,068 shares in the company, valued at $19,057,499.72. The trade was a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.30% of the stock is owned by corporate insiders.

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.