Steel Dynamics, Inc. (STLD) Position Decreased by Peregrine Capital Management LLC

Peregrine Capital Management LLC lowered its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 673,140 shares of the basic materials company’s stock after selling 1,685 shares during the period. Peregrine Capital Management LLC owned approximately 0.28% of Steel Dynamics worth $24,105,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Advantage Investment Management LLC increased its stake in Steel Dynamics by 39.6% in the first quarter. Advantage Investment Management LLC now owns 3,350 shares of the basic materials company’s stock worth $116,000 after buying an additional 950 shares during the last quarter. James Investment Research Inc. bought a new stake in Steel Dynamics during the first quarter worth $145,000. Advisory Services Network LLC bought a new stake in Steel Dynamics during the first quarter worth $150,000. IFP Advisors Inc increased its stake in Steel Dynamics by 163.8% in the first quarter. IFP Advisors Inc now owns 4,366 shares of the basic materials company’s stock worth $152,000 after buying an additional 2,711 shares during the last quarter. Finally, Creative Planning increased its stake in Steel Dynamics by 36.3% in the second quarter. Creative Planning now owns 4,718 shares of the basic materials company’s stock worth $169,000 after buying an additional 1,256 shares during the last quarter. Hedge funds and other institutional investors own 83.59% of the company’s stock.

Steel Dynamics, Inc. (NASDAQ:STLD) traded up 0.37% during trading on Friday, reaching $37.83. The company’s stock had a trading volume of 738,929 shares. The stock has a 50-day moving average price of $35.13 and a 200 day moving average price of $35.27. The company has a market cap of $9.15 billion, a PE ratio of 17.86 and a beta of 1.25. Steel Dynamics, Inc. has a 52-week low of $22.79 and a 52-week high of $40.17.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. Steel Dynamics had a return on equity of 21.94% and a net margin of 6.07%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the previous year, the company posted $0.58 earnings per share. The company’s revenue was up 18.1% compared to the same quarter last year. On average, analysts expect that Steel Dynamics, Inc. will post $2.79 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 7th. Shareholders of record on Friday, June 30th were paid a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a yield of 1.64%. The ex-dividend date of this dividend was Wednesday, June 28th. Steel Dynamics’s dividend payout ratio (DPR) is currently 28.57%.

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A number of analysts have recently weighed in on the company. Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $38.00 target price for the company in a research report on Saturday, May 20th. Morgan Stanley reiterated a “buy” rating on shares of Steel Dynamics in a research report on Tuesday. Cowen and Company reiterated a “buy” rating and set a $42.00 target price on shares of Steel Dynamics in a research report on Wednesday. BidaskClub upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Finally, BMO Capital Markets reiterated a “buy” rating and set a $48.00 target price on shares of Steel Dynamics in a research report on Monday, April 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company. Steel Dynamics presently has a consensus rating of “Buy” and an average price target of $38.91.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

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