Steel Dynamics, Inc. $STLD Shares Sold by Inceptionr LLC

Inceptionr LLC decreased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 33.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,057 shares of the basic materials company’s stock after selling 1,013 shares during the period. Inceptionr LLC’s holdings in Steel Dynamics were worth $263,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Harbour Capital Advisors LLC increased its stake in shares of Steel Dynamics by 0.5% during the second quarter. Harbour Capital Advisors LLC now owns 14,828 shares of the basic materials company’s stock valued at $1,988,000 after acquiring an additional 80 shares during the period. Hemington Wealth Management boosted its stake in Steel Dynamics by 35.9% during the 1st quarter. Hemington Wealth Management now owns 318 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 84 shares in the last quarter. Blair William & Co. IL increased its position in shares of Steel Dynamics by 5.8% during the 2nd quarter. Blair William & Co. IL now owns 1,813 shares of the basic materials company’s stock valued at $232,000 after purchasing an additional 100 shares during the period. Lifeworks Advisors LLC increased its position in shares of Steel Dynamics by 6.6% during the 2nd quarter. Lifeworks Advisors LLC now owns 1,719 shares of the basic materials company’s stock valued at $220,000 after purchasing an additional 106 shares during the period. Finally, Forum Financial Management LP raised its stake in shares of Steel Dynamics by 2.5% in the 2nd quarter. Forum Financial Management LP now owns 4,524 shares of the basic materials company’s stock worth $579,000 after buying an additional 109 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Up 0.8%

Shares of NASDAQ:STLD opened at $167.88 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.11. The company has a market cap of $24.52 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 1.39 and a beta of 1.45. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $168.36. The firm has a 50 day simple moving average of $150.65 and a 200 day simple moving average of $137.62.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.63 by $0.11. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The company’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.05 EPS. As a group, research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Steel Dynamics’s dividend payout ratio is currently 26.49%.

Analyst Ratings Changes

Several research analysts recently weighed in on STLD shares. JPMorgan Chase & Co. raised their target price on Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, October 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Steel Dynamics in a research report on Tuesday. Citigroup lifted their price objective on shares of Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. BMO Capital Markets increased their target price on shares of Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Wells Fargo & Company lifted their price target on shares of Steel Dynamics from $169.00 to $172.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of “Moderate Buy” and an average target price of $170.44.

Insider Buying and Selling

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of Steel Dynamics stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the transaction, the senior vice president owned 117,068 shares of the company’s stock, valued at $19,057,499.72. The trade was a 6.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 6.30% of the company’s stock.

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.