MetLife Investment Advisors LLC Reduces Position in Steel Dynamics, Inc. (NASDAQ:STLD)

MetLife Investment Advisors LLC lowered its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 139,960 shares of the basic materials company’s stock after selling 3,773 shares during the period. MetLife Investment Advisors LLC owned approximately 0.06% of Steel Dynamics worth $4,204,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in STLD. Ffcm LLC increased its stake in Steel Dynamics by 59.3% during the 4th quarter. Ffcm LLC now owns 924 shares of the basic materials company’s stock valued at $28,000 after buying an additional 344 shares during the period. Valeo Financial Advisors LLC grew its stake in shares of Steel Dynamics by 36.4% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,124 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 300 shares during the last quarter. SRS Capital Advisors Inc. grew its stake in shares of Steel Dynamics by 183.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,126 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 729 shares during the last quarter. JOYN Advisors Inc. grew its stake in shares of Steel Dynamics by 34.7% in the 4th quarter. JOYN Advisors Inc. now owns 1,164 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 300 shares during the last quarter. Finally, Penserra Capital Management LLC grew its stake in shares of Steel Dynamics by 28.2% in the 4th quarter. Penserra Capital Management LLC now owns 2,071 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 455 shares during the last quarter. 82.58% of the stock is owned by institutional investors.

Shares of STLD traded down $0.21 during midday trading on Monday, hitting $33.66. The stock had a trading volume of 1,578,085 shares, compared to its average volume of 2,106,863. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.96 and a quick ratio of 2.13. The stock has a market cap of $7.55 billion, a price-to-earnings ratio of 6.13, a PEG ratio of 0.72 and a beta of 1.39. Steel Dynamics, Inc. has a fifty-two week low of $28.91 and a fifty-two week high of $52.10.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, January 22nd. The basic materials company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.25 by $0.06. The business had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Steel Dynamics had a net margin of 10.65% and a return on equity of 35.44%. The firm’s quarterly revenue was up 24.3% compared to the same quarter last year. During the same period last year, the company posted $0.54 earnings per share. Analysts anticipate that Steel Dynamics, Inc. will post 3.93 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, April 12th. Investors of record on Sunday, March 31st were issued a dividend of $0.24 per share. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.19. This represents a $0.96 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend was Friday, March 29th. Steel Dynamics’s dividend payout ratio (DPR) is currently 17.49%.

Several equities analysts have recently issued reports on STLD shares. Zacks Investment Research raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. BidaskClub raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. Cowen started coverage on shares of Steel Dynamics in a research note on Tuesday, January 8th. They issued a “market perform” rating and a $32.00 price objective on the stock. Credit Suisse Group raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Steel Dynamics from a “strong sell” rating to a “sell” rating in a report on Thursday, January 10th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $48.89.

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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.

Featured Article: Balance Sheet

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

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