Parametric Portfolio Associates LLC Buys 125,691 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

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Parametric Portfolio Associates LLC raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 20.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 738,125 shares of the basic materials company’s stock after purchasing an additional 125,691 shares during the quarter. Parametric Portfolio Associates LLC owned 0.33% of Steel Dynamics worth $22,291,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in STLD. MML Investors Services LLC increased its stake in shares of Steel Dynamics by 134.7% during the second quarter. MML Investors Services LLC now owns 15,845 shares of the basic materials company’s stock valued at $479,000 after buying an additional 9,094 shares during the period. Natixis increased its stake in shares of Steel Dynamics by 43.9% during the second quarter. Natixis now owns 459,645 shares of the basic materials company’s stock valued at $13,881,000 after buying an additional 140,180 shares during the period. South Dakota Investment Council increased its stake in shares of Steel Dynamics by 31.7% during the second quarter. South Dakota Investment Council now owns 315,330 shares of the basic materials company’s stock valued at $9,523,000 after buying an additional 75,970 shares during the period. D.A. Davidson & CO. grew its stake in Steel Dynamics by 7.5% in the second quarter. D.A. Davidson & CO. now owns 10,649 shares of the basic materials company’s stock valued at $322,000 after purchasing an additional 740 shares during the last quarter. Finally, Meadow Creek Investment Management LLC grew its stake in Steel Dynamics by 64.9% in the second quarter. Meadow Creek Investment Management LLC now owns 207,144 shares of the basic materials company’s stock valued at $6,256,000 after purchasing an additional 81,508 shares during the last quarter. Institutional investors and hedge funds own 79.78% of the company’s stock.

NASDAQ:STLD traded up $0.54 during trading hours on Thursday, reaching $31.06. The company had a trading volume of 114,326 shares, compared to its average volume of 2,095,634. Steel Dynamics, Inc. has a 1-year low of $25.02 and a 1-year high of $48.17. The firm has a market cap of $6.98 billion, a PE ratio of 5.63, a price-to-earnings-growth ratio of 0.84 and a beta of 1.64. The business’s 50 day moving average price is $28.47 and its 200-day moving average price is $30.83. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.35 and a quick ratio of 2.40.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Monday, July 22nd. The basic materials company reported $0.87 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.02). The company had revenue of $2.77 billion during the quarter, compared to analyst estimates of $2.78 billion. Steel Dynamics had a net margin of 9.11% and a return on equity of 28.50%. The company’s revenue was down 10.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.53 earnings per share. On average, analysts expect that Steel Dynamics, Inc. will post 3.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend is Friday, September 27th. Steel Dynamics’s payout ratio is 17.49%.

A number of equities research analysts recently commented on the company. Longbow Research downgraded Steel Dynamics from a “buy” rating to a “neutral” rating in a report on Monday, August 26th. Citigroup set a $34.00 target price on Steel Dynamics and gave the stock a “buy” rating in a report on Tuesday, June 11th. Deutsche Bank reissued a “hold” rating on shares of Steel Dynamics in a report on Thursday, June 27th. Credit Suisse Group downgraded Steel Dynamics from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $38.00 to $29.00 in a report on Thursday, May 23rd. Finally, Bank of America decreased their price target on Steel Dynamics from $34.00 to $30.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Ten research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Steel Dynamics currently has an average rating of “Hold” and a consensus price target of $37.27.

In other Steel Dynamics news, SVP Miguel Alvarez bought 8,920 shares of Steel Dynamics stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $27.72 per share, with a total value of $247,262.40. Following the purchase, the senior vice president now directly owns 700 shares in the company, valued at approximately $19,404. The acquisition was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 4.90% of the company’s stock.

Steel Dynamics Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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