Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors reduced its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,799 shares of the basic materials company’s stock after selling 1,547 shares during the period. Captrust Financial Advisors’ holdings in Steel Dynamics were worth $6,909,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Public Sector Pension Investment Board lifted its stake in shares of Steel Dynamics by 3.8% during the third quarter. Public Sector Pension Investment Board now owns 5,495 shares of the basic materials company’s stock valued at $693,000 after buying an additional 200 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Steel Dynamics by 6.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock valued at $194,933,000 after acquiring an additional 96,122 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Steel Dynamics by 4.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,115 shares of the basic materials company’s stock worth $3,923,000 after purchasing an additional 1,194 shares during the period. FORA Capital LLC acquired a new stake in shares of Steel Dynamics during the third quarter worth $563,000. Finally, CreativeOne Wealth LLC boosted its holdings in shares of Steel Dynamics by 17.3% during the third quarter. CreativeOne Wealth LLC now owns 2,091 shares of the basic materials company’s stock worth $264,000 after purchasing an additional 309 shares during the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the transaction, the senior vice president now owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the sale, the vice president now owns 17,100 shares in the company, valued at $2,306,106. This represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,591 shares of company stock valued at $3,885,938 over the last 90 days. 6.00% of the stock is owned by corporate insiders.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $144.81 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $22.05 billion, a P/E ratio of 13.10 and a beta of 1.31. The firm has a fifty day moving average of $135.06 and a 200-day moving average of $127.75. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating 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 company 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 earnings per share. The firm’s revenue was down 5.4% compared to the same quarter last year. As a group, analysts predict that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is presently 16.65%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on STLD. JPMorgan Chase & Co. increased their target price on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a report on Monday. They set a “neutral” rating and a $155.00 price objective on the stock. BMO Capital Markets raised their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Morgan Stanley dropped their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Finally, Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. Five 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, Steel Dynamics has an average rating of “Hold” and a consensus target price of $145.63.

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.