Uhlmann Price Securities LLC Reduces Position in Steel Dynamics, Inc. $STLD

Uhlmann Price Securities LLC trimmed its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 6.7% in the second quarter, Holdings Channel reports. The fund owned 4,108 shares of the basic materials company’s stock after selling 293 shares during the period. Uhlmann Price Securities LLC’s holdings in Steel Dynamics were worth $526,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. acquired a new stake in Steel Dynamics during the 1st quarter worth approximately $25,000. Cary Street Partners Investment Advisory LLC lifted its position in Steel Dynamics by 493.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 163 shares during the period. Trust Co. of Toledo NA OH acquired a new stake in Steel Dynamics during the 2nd quarter worth approximately $30,000. Zions Bancorporation National Association UT acquired a new stake in Steel Dynamics during the 1st quarter worth approximately $32,000. Finally, WPG Advisers LLC acquired a new stake in Steel Dynamics during the 1st quarter worth approximately $32,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $142.75 on Monday. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. The stock has a market cap of $21.01 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 1.17 and a beta of 1.40. The company’s 50-day moving average price is $135.49 and its 200 day moving average price is $130.69. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.04). Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same quarter in the prior year, the company earned $2.72 earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Steel Dynamics’s payout ratio is 29.15%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on STLD shares. Wells Fargo & Company raised their price target on Steel Dynamics from $143.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, September 15th. JPMorgan Chase & Co. raised their price target on Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Steel Dynamics in a report on Wednesday, October 8th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.89.

Insider Activity at Steel Dynamics

In related news, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the sale, the senior vice president owned 66,738 shares in the company, valued at approximately $8,456,371.98. This trade represents a 15.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.30% of the stock is currently owned by 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.