Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 15.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,617 shares of the basic materials company’s stock after selling 19,195 shares during the period. Intech Investment Management LLC owned about 0.07% of Steel Dynamics worth $13,190,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in STLD. Price T Rowe Associates Inc. MD boosted its stake in shares of Steel Dynamics by 4.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock valued at $534,295,000 after buying an additional 152,254 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Steel Dynamics by 7.0% during the 2nd quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock worth $276,891,000 after purchasing an additional 140,042 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Steel Dynamics by 1.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock worth $228,999,000 after purchasing an additional 22,390 shares during the period. LSV Asset Management increased its holdings in shares of Steel Dynamics by 3.9% in the 2nd quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock valued at $182,604,000 after purchasing an additional 53,532 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its holdings in Steel Dynamics by 1.8% during the second quarter. AustralianSuper Pty Ltd now owns 592,255 shares of the basic materials company’s stock worth $76,697,000 after buying an additional 10,701 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

STLD has been the subject of a number of research reports. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Morgan Stanley decreased their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price target for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $144.29.

Steel Dynamics Stock Up 1.0 %

Shares of NASDAQ:STLD opened at $145.54 on Friday. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The stock’s 50-day moving average price is $131.63 and its two-hundred day moving average price is $127.42. The firm has a market cap of $22.16 billion, a price-to-earnings ratio of 13.17 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same period last year, the company posted $3.47 EPS. The business’s quarterly revenue was down 5.4% on a year-over-year basis. On average, research analysts forecast that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s payout ratio is currently 16.65%.

Insider Buying and Selling

In related news, SVP Miguel Alvarez sold 6,650 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the sale, the senior vice president now directly owns 116,949 shares in the company, valued at approximately $16,723,707. This represents a 5.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,591 shares of company stock valued at $3,885,938. 6.00% of the stock is currently owned by corporate insiders.

About Steel Dynamics

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.