AustralianSuper Pty Ltd Trims Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

AustralianSuper Pty Ltd decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 581,554 shares of the basic materials company’s stock after selling 10,701 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Steel Dynamics were worth $73,322,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Measured Wealth Private Client Group LLC increased its position in shares of Steel Dynamics by 5.7% during the 3rd quarter. Measured Wealth Private Client Group LLC now owns 7,040 shares of the basic materials company’s stock worth $888,000 after purchasing an additional 378 shares during the last quarter. Cornerstone Wealth Group LLC increased its position in shares of Steel Dynamics by 2.1% during the third quarter. Cornerstone Wealth Group LLC now owns 23,749 shares of the basic materials company’s stock valued at $2,994,000 after acquiring an additional 491 shares during the last quarter. SteelPeak Wealth LLC raised its stake in shares of Steel Dynamics by 118.0% in the 3rd quarter. SteelPeak Wealth LLC now owns 4,004 shares of the basic materials company’s stock valued at $507,000 after acquiring an additional 2,167 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in shares of Steel Dynamics by 18.9% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,957 shares of the basic materials company’s stock worth $877,000 after acquiring an additional 1,106 shares during the last quarter. Finally, Trajan Wealth LLC acquired a new stake in Steel Dynamics in the 3rd quarter valued at approximately $209,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction on Monday, October 21st. The shares were 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 directly owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction on Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the completion of the transaction, the vice president now owns 17,100 shares in the company, valued at approximately $2,306,106. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on STLD. BMO Capital Markets raised their price target on 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 reduced their price target on shares of 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 shares of 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. JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Steel Dynamics has an average rating of “Hold” and a consensus target price of $144.29.

Steel Dynamics Stock Down 1.0 %

Steel Dynamics stock traded down $1.33 during trading on Thursday, reaching $131.44. The stock had a trading volume of 144,163 shares, compared to its average volume of 1,255,730. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 52-week low of $104.08 and a 52-week high of $151.34. The stock has a market cap of $20.28 billion, a PE ratio of 12.02 and a beta of 1.31. The business has a 50 day moving average price of $123.25 and a 200 day moving average price of $126.61.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.07. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.47 EPS. On average, analysts predict that Steel Dynamics, Inc. will post 10.22 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.46 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.40%. Steel Dynamics’s payout ratio is currently 16.65%.

Steel Dynamics 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.