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

Intech Investment Management LLC trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 15.5% in the third quarter, according to its most recent 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’s holdings in Steel Dynamics were worth $13,190,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in STLD. Commerce Bank grew its position in Steel Dynamics by 1.2% during the third quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock valued at $754,000 after purchasing an additional 73 shares in the last quarter. Csenge Advisory Group boosted its stake in shares of Steel Dynamics by 2.8% during the 2nd quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock valued at $381,000 after buying an additional 81 shares during the period. Covestor Ltd grew its holdings in shares of Steel Dynamics by 10.8% during the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock valued at $120,000 after acquiring an additional 93 shares in the last quarter. Dorsey Wright & Associates increased its stake in shares of Steel Dynamics by 0.4% in the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock worth $3,050,000 after acquiring an additional 96 shares during the last quarter. Finally, Greenleaf Trust raised its holdings in shares of Steel Dynamics by 2.1% during the third quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock worth $583,000 after acquiring an additional 96 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on STLD. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. BMO Capital Markets raised their price objective 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. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Morgan Stanley reduced their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. Finally, 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 research report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $144.29.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $145.54 on Friday. The firm has a market capitalization of $22.16 billion, a PE ratio of 13.17 and a beta of 1.31. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. The firm’s fifty day simple moving average is $131.63 and its 200 day simple moving average is $127.42.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates 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 in the previous year, the company posted $3.47 earnings per share. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Announces Dividend

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

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the sale, 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 10.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the transaction, the vice president now directly owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. This trade represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,591 shares of company stock worth $3,885,938. Insiders own 6.00% of the company’s stock.

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.