Empowered Funds LLC Has $4.70 Million Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Empowered Funds LLC lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 7.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,286 shares of the basic materials company’s stock after selling 3,050 shares during the quarter. Empowered Funds LLC’s holdings in Steel Dynamics were worth $4,701,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Trustmark National Bank Trust Department lifted its position in Steel Dynamics by 126.6% in the first quarter. Trustmark National Bank Trust Department now owns 7,134 shares of the basic materials company’s stock worth $1,057,000 after purchasing an additional 3,986 shares during the period. Bessemer Group Inc. raised its stake in shares of Steel Dynamics by 2,679.3% in the 1st quarter. Bessemer Group Inc. now owns 10,867 shares of the basic materials company’s stock valued at $1,611,000 after buying an additional 10,476 shares in the last quarter. LBP AM SA boosted its position in shares of Steel Dynamics by 26.5% during the 1st quarter. LBP AM SA now owns 21,966 shares of the basic materials company’s stock valued at $3,256,000 after acquiring an additional 4,599 shares in the last quarter. UniSuper Management Pty Ltd increased its stake in Steel Dynamics by 372.0% in the first quarter. UniSuper Management Pty Ltd now owns 8,906 shares of the basic materials company’s stock valued at $1,320,000 after acquiring an additional 7,019 shares during the period. Finally, Envestnet Asset Management Inc. raised its position in Steel Dynamics by 9.4% in the second quarter. Envestnet Asset Management Inc. now owns 230,922 shares of the basic materials company’s stock worth $29,904,000 after purchasing an additional 19,853 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD opened at $139.41 on Monday. The business has a fifty day moving average of $128.98 and a 200-day moving average of $127.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56. The firm has a market cap of $21.22 billion, a PE ratio of 12.62 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter last year, the company posted $3.47 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts predict that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is 16.65%.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of the firm’s 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 transaction, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. This trade represents a 10.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the sale, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,591 shares of company stock worth $3,608,438. Insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on STLD. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their price target on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. Morgan Stanley lowered their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Finally, 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 report on Friday, October 18th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $144.29.

Steel Dynamics Company Profile

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.