Orion Porfolio Solutions LLC Sells 3,820 Shares of Steel Dynamics, Inc. $STLD

Orion Porfolio Solutions LLC lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 34.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,222 shares of the basic materials company’s stock after selling 3,820 shares during the period. Orion Porfolio Solutions LLC’s holdings in Steel Dynamics were worth $924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of STLD. Raymond James Financial Inc. lifted its stake in shares of Steel Dynamics by 6.7% during the 1st quarter. Raymond James Financial Inc. now owns 154,357 shares of the basic materials company’s stock worth $19,307,000 after acquiring an additional 9,753 shares during the last quarter. 1832 Asset Management L.P. lifted its position in shares of Steel Dynamics by 5.6% during the first quarter. 1832 Asset Management L.P. now owns 16,356 shares of the basic materials company’s stock worth $2,046,000 after purchasing an additional 872 shares during the last quarter. Compound Planning Inc. boosted its stake in shares of Steel Dynamics by 16.7% during the first quarter. Compound Planning Inc. now owns 2,252 shares of the basic materials company’s stock valued at $282,000 after purchasing an additional 323 shares during the period. AlphaQuest LLC grew its holdings in shares of Steel Dynamics by 103.6% in the first quarter. AlphaQuest LLC now owns 3,494 shares of the basic materials company’s stock worth $437,000 after purchasing an additional 1,778 shares during the last quarter. Finally, Ieq Capital LLC bought a new position in shares of Steel Dynamics in the first quarter worth about $867,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Up 0.8%

Shares of STLD opened at $177.20 on Wednesday. The company has a market capitalization of $25.88 billion, a price-to-earnings ratio of 23.47, a PEG ratio of 1.19 and a beta of 1.47. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $178.36. The stock’s 50-day moving average price is $160.48 and its 200-day moving average price is $142.37. The company has a quick ratio of 1.47, a current ratio of 3.11 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the company posted $2.05 earnings per share. Steel Dynamics’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.1%. The ex-dividend date is Wednesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is currently 26.49%.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the transaction, the senior vice president owned 117,068 shares in the company, valued at approximately $19,057,499.72. This represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on STLD. Wells Fargo & Company upped their target price on shares of Steel Dynamics from $172.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. KeyCorp lifted their target price on Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. BMO Capital Markets increased their price target on Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Citigroup raised their price target on Steel Dynamics from $150.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Morgan Stanley upped their price objective on shares of Steel Dynamics from $145.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Steel Dynamics has an average rating of “Moderate Buy” and a consensus price target of $176.89.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.